Bank Error on Check Amount - Can't Match

Thanks for your help!  I just assumed that every check I create needs to have an online bank match.  I just modified the check I already created in the amount of $1,000.00 to $1,800.00 and then created another line item amount of a -$800.00, so the check amount still equates to $1,000.00.  Thanks again and Happy New Year!

Lisa

Hi @LisaMac1.

Thanks for circling back to let us know it all worked out. Please feel free to drop into the Community any time we can be of help. 

Getting ready to close your books for the year? Check out our year-end resource page!

Happy New Year

What if it is a payroll check that was cashed for the incorrect amount?

I'll share two scenarios regarding your concern about matching an incorrect bank transaction amount to a payroll check, Brewer.

Suppose you want to keep a record of the payroll check transaction. In that case, you can simply exclude the bank transaction and manually clear the payroll created in your QuickBooks Online (QBO) account. Once the records are good, you can settle the amount difference with your employee personally or outside the QBO program.

On the other hand, if you want to keep the recorded bank transaction, you'll have to delete and recreate the payroll check in QBO to match the cashed amount. Then, you may adjust the next payroll run.

Additionally, you can check out this article to learn more about managing your income and expenses effectively and any possible errors accordingly: Learn the reconcile workflow in QuickBooks.

Keep me posted if you have questions or concerns about managing your bank transactions in QBO. I'll be here to lend a helping hand. Have a great day ahead!

how can I correct this same scenario in Quickbooks desktop

Hello there, @lauralynn87.

I'd love to help you with your concern on your QuickBooks Desktop (QBDT), but can you provide more information about it? Are you trying to exclude bank transactions in QBDT? Any additional information could help us provide the best resolution.

Please know that the Community forum is always open to help you with all of your QuickBooks concerns. Have a good one.

Hi There, I have the same issue and need a fix for QBDT as well. I'm on 2023 version. 

Problem: Customer wrote a check for $2,848.75 but the written amount is only $2,048.75. Naturally the bank deposited the full amount and then noticed the error, debiting my account by $800 a few days later. In order to reconcile my checking account I need to reflect the full deposit and then show a debit for $800, leaving a balance due for a customer's invoice. How do I go about that? TIA

Thanks for chiming in on this thread to ask for assistance, @BossLadyJatGHA. Let's work together to reflect the full deposit in QuickBooks Online (QBO) and record the amount debited from your Checking account. 

First, let's create a check to record the $800 taken back from your account. Then, utilize the Accounts Receivable so the amount will show as an open balance in your customer's invoice.

Here's how:

1. Go to Banking and select Write Checks.
2. Under the Account column, choose Accounts Receivable.
3. Enter the amount and select the customer's name.
4. Hit Save & Close.
   

Once done, proceed to reconcile the account to check for any discrepancies.

For your future guide, here's an article that suggests what to do if your accounts in QBDT don't correspond with your bank statements at the end of reconciliation: Fix issues when you're reconciling in QuickBooks Desktop.

Keep me posted in the comment section below whenever you have any follow-up concerns about recording the incorrect check amount in QBDT. We're always around 24/7 to assist you further. Keep safe and have a nice day ahead.

Hello,

Thank you for the response. I entered the transaction as you said and it posted an open balance of $800 to my client--all good so far. However, after I apply the makeup payment for the $800's owed, it shows the client has paid $3,648.75 total on the account, which is incorrect. He's technically only paid the original $2,848.75. That may not matter, but it's going to reflect a higher accounts receivable for the month than what we actually took in and this will effect my end of the year audits. It also only shows up as having billed him for $2,848.75.

Thanks for updating us on this @BossLadyJatGHA, and following the steps provided by my peer above. There might be some confusion in recording transactions that may have caused the total to be inflated. Don't worry, I can help you sort this out.

Creating a check to record the $800 will not increase the income but will correct your bank and Accounts Receivable balance. However, recording the repayment received, determines why the income account was overstated with the same amount of $800. To rectify this, I recommend deleting the repayment.

Once done, create a receive payment first for the recorded check amount. Make sure to put a checkmark on the amount due. I'll guide you on how:
 

1. Go to the Customers menu.
2. Select Receive Payments.
3. Tick the amount due.
   
   
    
4. Then Click Save & Close.

Then, create a Bank Deposit and include the repayment. Here's how:
 

1. Go to the Banking menu, then select Make Deposits.
2. Select the repayment from the Payments to Deposit window, then click OK.
   
   
    
3. Once done, select Save & Close.

That should do it. You can also reconcile your account to check for any discrepancies.

Moreover, I'm adding this helpful article to learn the different ways you can track customer transactions in QuickBooks Desktop: Get started with customer transaction workflows.

Let me know if you have additional clarifications or concerns. I'll be around to lend a hand. 

This is exactly what I already did. It will show the customer has paid $800 more than what they were invoiced even though there is zero balance due.

You just did it correctly, @BossLadyJatGHA. Let me share additional details about your recorded QuickBooks Desktop (QBDT) transactions.

Thanks for following the suggestions made by my peers above. The screenshots you've added are correct, as they just don't include the Check transaction you've created that has been used to offset the debited amount ($800).

You'll want to pull up some of your financial reports and review the amounts to check if they're recorded correctly.

See this screenshot, for example:

Additionally, please check out this article to view various workflows for recording customer transactions in QBDT: Get started with customer transaction workflows in QuickBooks Desktop. You can efficiently track your cash flow in this manner while keeping track of sales, receivables, and profitability.

Please let me know in the comment below if you have additional questions about recording check errors or anything related to QuickBooks. I'll be here to assist. Have a good one!