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Hi! A customer sent us a check back in December but it never showed up. The customer then cancelled the check and issued us another check which we deposited and cleared the invoice. Months later, the December check shows up and my boss deposited the check along with our other checks. On our bank feed, it shows that we have that deposited amount. Five days later, our bank feed showed that there is a charge back item for the same amount of the check. Here are my questions:
1. With the remote bank deposit in the bank feed, I usually just match it to all the received payments. Since the check in question got returned and is not part of my received payments items, obviously I won't be able to match the checks this way. How do I go about recording the bank deposit and will I still be able to match it to the bank fee?
2. How do I record the charge back item (which is the check that already got cancelled by our client)?
Thanks,
YiMing
Hello there, @Ymtsenglee.
For the canceled check that shows up months later, you can undo or exclude the transactions from the bank feed. This keeps your accounts and data accurate.
You'll need to go to the Banking menu on the left panel and within the Banking tab, put a checkmark for each transaction you want to exclude from the For Review section. Then, select Exclude. Let's take a look at the sample screenshot below:
The excluded transactions will be moved to the Excluded tab. They won’t be added to QuickBooks or downloaded again. Then, create a check for the chargeback item.
You can refer to these articles for additional information about managing your bank transactions and recording checks in the program:
Still, I recommend working with your accountant to make sure your transactions and accounts are properly recorded and handled.
Let me know if you have other questions as you go along with the steps I've shared above or any concerns related to QuickBooks. Take care and stay safe always.
Hi Ymtsenglee,
Hope you’re doing great. I wanted to see how everything is going about handling transactions from the bank feed that's coming the returned check. Was it resolved? Do you need any additional help or clarification? If you do, just let me know. I’d be happy to help you at anytime.
Looking forward to your reply. Have a pleasant day ahead!
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