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pvking
Level 1

How to correct a banking deposit error?

I made a manual deposit in the check register. At a later time when I actually recorded   receiving the payments I went to deposit them, but since the deposit had been made manually  the deposit would be double what it should be. How can I assign the deposit to the invoices, but not double up on the deposit amount in the register?

1 Comment 1
JonpriL
Moderator

How to correct a banking deposit error?

Glad to have you here, @pvking!

 

You'll have to change the account assigned to the manual deposit you've created. I'm here to help you accomplish this and get your customer's invoice paid.

 

First, you'll have to change the account of your deposit to accounts receivable. Here's how:

  1. Go to Home.
  2. Choose Check Register.
  3. Select the bank account where you deposited your manual check.
  4. Find and change the account of your manual deposit.
  5. Choose your Accounts Receivable account.
  6. Click Record to save the changes you've made.

From there, you can go back to your customer's open invoice. Then, apply the manual deposit you've recently updated as a credit to the invoice.

 

Let me show you how:

  1. Go to Customers.
  2. Select Receive Payments.
  3. Choose your customer who you want to apply the credit.
  4. Select the open invoice.
  5. Choose Apply Credits from the UNUSED CREDITS box.
  6. Click Save & Close.

Once completed, I'm confident you'll be able to link the deposit to your customer's invoice without making it a double entry transaction.

 

Lastly, here's a couple of screenshots for your visual reference. In addition, I've also included our detailed guide in applying an advance deposit to invoice.

 

 

Feel free to leave a comment below by clicking the Reply button if you have any other questions about your deposits and invoices. I'll be always happy to help.

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