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Eve2019
Level 4

customers payments

Hi,
What is the right way to enter this transaction in QB Desktop:
I invoiced my customer for $1,764.60. I deposited the check in my bank and payed the invoice in QB. This happened last year and has been reconciled. When I reconciled my monthly statements I noticed that there was and adjustment/correction of $700 from my bank statement. I called the my bank to get more info and they told me that this happens when written and amount on check do not match, so they go by the written words on check.

The check my customer gave me in the amount was $1,764.60 but he wrote "one thousand sixty four 60/100" on the check (,1064.60) meaning the bank use the difference of  $700  from my account-my own money to process this check. 


Now how can I tell QB this happen?


Customer payed me the difference $700  this year 2020 

how do i enter this transaction (adjustment/correction of $700 on my bank statement) to quick books desktop, which account? Thanks

1 Comment 1
ReymondO
QuickBooks Team

customers payments

Let me help you record these transactions in QuickBooks Desktop (QBDT), @Eve2019.

 

We can create a check to record the adjustment from your bank statement. Just follow these steps:

 

  1. Go to Banking and select Write Checks.
  2. Fill out the information and click Save & Close.


To make sure you choose the correct expense account, I recommend reaching out to your accountant.

 

Once done, you can create another customer payment to record the amount your customer paid you.

In addition, you can run the Customer Balance Summary report to review how much each customer owes you. Just go to Reports and select Customers & Receivables. Then, click Customer Balance Summary.

That's it! Please let me know if there's anything else I can do to be of assistance. Wishing you and your business continued success in all that you do.

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