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Level 1

My bank entered a transaction incorrectly . How can I fix it?

I need to complete reconciliation . don't know what to do?
3 Comments
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QuickBooks Team

My bank entered a transaction incorrectly . How can I fix it?

Hi there, jackietreen. 

 

Thanks for dropping by the Community, I'm happy to help. First off, let's check if the uploaded transaction is excluded from the company file. This will ensure that there aren't incorrect transactions left in your register. Follow along below to do so:

  1. Go to the Transactions/Banking menu.
  2. Under the Banking section, select the account where you've uploaded the transaction into.
  3. Click the Categorized tab and look for the incorrect transaction.
  4. If you still find one, hit the Undo button. Then, Exclude them in the For Review tab.
  5. If none, navigate to the Excluded tab to check if there is still an incorrect transaction left. Then, delete it.

When finished I would make sure that your QBO balance is correct, if it's incorrect, you can refer to this article for the steps on how to fix your beginning balance issues. Also, I'm including a link to our Reconcile hub. There, you can find everything you need to know about Reconciling as well as ensuring your QuickBooks balance matches with your real-life bank. 

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Level 1

My bank entered a transaction incorrectly . How can I fix it?

No it did not help me. 

The information in Quick books is correct the bank cashed a check for  the wrong amount.

Highlighted
QuickBooks Team

My bank entered a transaction incorrectly . How can I fix it?

It's nice to have you again here in the Community, @jackietreen.

 

I've got the steps that you need to get this bank account issue sorted out so you can have a smooth reconciliation.

 

QuickBooks Online is dependent on the transactions on your bank account. That said, the data on your actual bank will be followed in QBO. To fix this matter, you'll need to edit the posting account that was selected on the check and enter the account where the amount has been taken out.

  1. From the Accounting menu, select Chart of Accounts.
  2. Choose the account where the check is incorrectly posted and click View register.
  3. Tap the check and select Edit.
  4. Change the posting account in the Bank Account drop-down.
  5. Hit Save and close.

 

 

Right after, match the manually added entry to the downloaded one. Once done, you can start the reconciliation process. See Reconcile an account in QuickBooks Online for reference.

 

However, if there will be a remaining balance to be cashed or deposited to the bank, you'll need to create a new expense transaction to match them. The date that will be used in this entry will be applied to the next reconciliation period. 

 

I'll be right here to help if you have any other questions. Feel free to drop a reply below. Take care!

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