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Brip77
Level 1

Deposit Correction

Hello quickbooks community,

 

Recently I brought a deposit to the bank. The deposit consisted of 13 checks and I forgot 2 of them at home. The bank still deposited the full amount of 2279.20 and then made a correction of -344.90 the next day. I deposited the other 2 checks the next day. So I have an incorrect deposit of 2279.20, a correction of -344.90 and a deposit of 344.90. I am wondering what I do with these to make everything match up and correct.

 

Thanks 

BR

1 Comment 1
john-pero
Community Champion

Deposit Correction

If they are all in the same month and you are not completely OCD then leave your single deposit alone in QB, and reconcile as if the bank did it all in one transaction.

 

If you absolutely wish to track the actual activity of the deposit or  it crosses a period or month end then here is what yo do.

 

  • enter the original 13 check deposit in quickbooks with cash back to your cash or other bank clearing account in amount of 344.90 and then the next day a deposit from cash of 344.90 this handles 2/3 of the transactions.
  • enter the original as you perceived it deposit. Enter a check or expense of 344.90 the next day to cash or clearing followed by deposit of same - this gives you all the transactions
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