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Buy nowI have several uncleared bank deposits from previous periods which have been determined to be duplicate accruals of actual bank deposits (client recorded a sales/bank deposit accrual, and also recorded the actual sales/bank deposit but never reversed the accrual). But when I create a journal entry against the bank account to clear these, then my bank balance in Quickbooks Online will be incorrect. How do I reverse these duplicates?
Welcome to the Community, @ktchipthompson.
Let me guide you on how to handle duplicate transactions in QuickBooks Online (QBO).
We can either Delete or Exclude them. However, if you delete them, they will be marked as missing transactions and you might need to download them again. If you choose to exclude, they won't show up again in your bank feeds and as duplicates. Here's how:
Also, we can match transactions to remove duplicates. Yet, it would help if you took note of these reasons why some users are unable to find a match:
You can still find a match when you select the Find other matches section. For more info, you can read this article: Match online bank transactions in QuickBooks Online.
For future reference, if you encounter issues while performing reconciliation, you can read this article on what to do: Fix issues at the end of a reconciliation in QuickBooks Online.
Come back here if you have additional banking-related concerns. I'll be willing to lend a hand. Have a good one.
Hi, thanks but this has nothing to do with bank feeds. The transactions are in the ledger and I need to reverse them; but if I do so I believe it will make my bank account balance incorrect. The transactions are sitting as uncleared deposits. And deleting them would be improper accounting as they reside in a closed period. I guess this is more of an accounting question than a quickbooks question...
Hi there, @ktchipthompson.
Before we dig deeper into your query, please know we appreciate you providing further details about your current situation inside QuickBooks Online (QBO). Also, you're right that transactions that belong to a closed period shouldn't be touched because it can mess up your books.
In this situation, it's best to work with an accountant so they can guide you on how to handle this case using a Journal Entry or provide other ways to get through this. If you don't have an accountant, we can help you find one. Feel free to visit this page to find an accountant for your business: Find a QuickBooks ProAdvisor.
In addition, we got these articles to help you review your business data inside the program:
We're always ready to help you out if you need assistance managing bank transactions or performing specific tasks inside QuickBooks. Keep safe.
If you have duplicate deposits, reversing them won't cause your bank balance to be incorrect because it's currently overstated by the amount of those deposits because those deposits never happened. You should be able to reverse them in the current period and clear them against each other the next time you reconcile.
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