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Level 2

Matching Transactions That Split

Last month we cut a reimbursement check to an employee for some supplies they had to purchase last minute. When the check cleared the amount was wrong, which turned out to have been a clerical error by the bank that handled the deposit for our employee when they cashed the check. Since then it has been corrected, however the original transaction amount wasn't corrected but rather our bank issued an account credit for the difference.

 

My issue is recording this in Quickbooks, since the check is entered as having been cut for one amount, the check came through the bank feed for another amount, and a (seemingly random) deposit has come through as a result of the banks correction credit and I can't seem to find a way to make any of these things match one another.

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QuickBooks Team

Matching Transactions That Split

Hello there, @branholm.

 

My priority is to ensure your reimbursement transactions are recorded properly in QuickBooks. Let's get this started!

 

To avoid messing up your account during the reconciliation process, QuickBooks records your transactions the same way it is posted on your bank account's website or bank statement.

 

Thus, you have two options in reimbursing your employee for a business expense paid using their personal funds.

  • Pay your employee now.
  • Record the expense and pay your employee later.

On the other hand, since there was no actual overpayment that happens, you can exclude the downloaded transaction from the bank. To clear out the reimbursement record on the system, you manually clear it by putting C on it during the reconciliation process.

 

Let me know how it goes on your end. I'm always here to help you in recording your reimbursement transactions.

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