Hello, apologies if this is a second post but I changed the username from the former bookkeeper and I can’t find the post.
The last bookkeeper incorrectly recorded two “payments” to the credit card as credits rather than payments. I have no idea how she reconciled statements and didn’t catch this but she did something. I’m trying to unravel this mess, but not sure the easiest method to fix. The payments due are showing up in my pay bills window. I have confirmed we did make the 2 payments. Can I void these credits and make the payments dating them correctly?
thanks!
Solved! Go to Solution.
Thank you for bringing this matter to our attention, ktomari. We appreciate your patience regarding the duplicate post and understand the frustration you're experiencing with the incorrectly recorded credit card payments. I'm here to guide you through resolving this situation efficiently and accurately.
Yes, you can void the incorrect credit entries and record the correct payments using the write checks feature with the proper dates in QuickBooks Desktop (QBDT). Let me walk you through the process step by step.
To void the incorrect credit entries, here's how:
Next, let's record the correct payments by creating a write check:
Finally, let's perform a mini reconciliation up to the date before the error. Before proceeding, please ensure you have the ending balance from your last successful reconciliation. This will provide us with a clean starting point.
Additionally, refer to this article to learn what to do if your accounts don't match your bank statements at the end of reconciliation: Fix issues when you're reconciling in QuickBooks Desktop.
I hope this guidance helps you resolve the issue with your credit card payments. Remember, accuracy in financial records is crucial, and we're here to support you in maintaining that accuracy. If you encounter difficulties following these steps or have further questions, please don't hesitate to reach out. We're committed to ensuring your QuickBooks experience is smooth and precise.
Thank you for bringing this matter to our attention, ktomari. We appreciate your patience regarding the duplicate post and understand the frustration you're experiencing with the incorrectly recorded credit card payments. I'm here to guide you through resolving this situation efficiently and accurately.
Yes, you can void the incorrect credit entries and record the correct payments using the write checks feature with the proper dates in QuickBooks Desktop (QBDT). Let me walk you through the process step by step.
To void the incorrect credit entries, here's how:
Next, let's record the correct payments by creating a write check:
Finally, let's perform a mini reconciliation up to the date before the error. Before proceeding, please ensure you have the ending balance from your last successful reconciliation. This will provide us with a clean starting point.
Additionally, refer to this article to learn what to do if your accounts don't match your bank statements at the end of reconciliation: Fix issues when you're reconciling in QuickBooks Desktop.
I hope this guidance helps you resolve the issue with your credit card payments. Remember, accuracy in financial records is crucial, and we're here to support you in maintaining that accuracy. If you encounter difficulties following these steps or have further questions, please don't hesitate to reach out. We're committed to ensuring your QuickBooks experience is smooth and precise.
Thank you (both) for your assistance. I tried this today and I am unable to clear the reconciliation as there is nothing to reconcile that payment against (all those charges are cleared). Suggestions?
Let's get to the bottom of these discrepancies so your books are accurate and precise, JSHalleck.
Once you've completed the process my colleague has provided, QuickBooks may see a mismatch due to the voided credits. You may notice a discrepancy in the beginning balance in the reconcile window. To fix this, let's use the reconciliation discrepancies report and create a journal entry to match the reconciled amount.
Before proceeding, I recommend consulting an accountant to ensure accurate adjustments. Having the correct entries in your books is crucial, and an accountant's professional guidance can help you achieve that.
Here's how to pull up a Reconciliation Discrepancies report:
In the report, identify the affected entries and create a journal entry to correct the reconciliation. After completing these steps, your QuickBooks ledger should reflect the accurate financial picture.
I'll also leave this guide to ensure you're all set for the year ahead and make the transition as smooth as possible: Year-end guide for QuickBooks Desktop.
It's my goal to ensure you're on top of your bookkeeping tasks in QuickBooks. If you have any other questions about reconciling your accounts, feel free to drop them below. I've always got your back.
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