Quickbooks online refund check cashed at later date

Priscilla-fdsf · ‎December 09, 2020

I issued 2 refunds in September for purchases made on the organization from personal funds.

This is what I did: I clicked the "+", then under 'vendors' I clicked 'check.' I entered all the information then printed the check. The check was cashed the following day. My bank is connected to QBO so it showed up in bank feed. How do I record the cashed check with the one i printed from QBO?

Thank you

Jessica_young · ‎December 09, 2020

Hey there, @Priscilla-fdsf.

Sounds like what you'll need to do here is match your check recorded in QuickBooks with the transaction coming from the bank feed! Match means QuickBooks matched the downloaded transaction with the one you already entered. This links them together so you don't get duplicates. Here's how:

Find a downloaded transaction with the Match option in the Action column.
Note the Date, Description, Payee, and amount spent or received.
Select the downloaded transaction to expand the view.
Review the Matching records found. This is the possible matching transaction you already entered in QuickBooks.
Select the link next to each match to get more details.
Make sure this is the correct match. In particular, review the Deposit to, Payment method, and Bank account fields on forms for the existing transaction in QuickBooks.
If this is the correct match, close the open transaction.
Select Match.

QuickBooks now knows the downloaded transaction is the same one you already entered. It connects the two so there are no duplicates. Tada, that's it!

To read about this process in its entirety, check out this article: Categorize and match online bank transactions in QuickBooks Online.

Let me know if there's anything else I can answer for you, I'm always happy to help!

View solution in original post

GlinetteC · ‎December 09, 2020

Glad to have you back, Priscilla-fdsf. I'm here to share additional information on how to handle this in Quickbooks Online.

If the period is reconciled, then the check that was matched will turn unreconciled, and transactions from the banking will return to pending. You can add this back and categorize this correctly as to the original without matching to the check where it incorrectly matched. Then, manually Reconcile it on the Bank register.

Once done, match the unreconciled check to the newly posted/cashed check.

These references are sure to help you succeed while reconciling:

Please let me know if there's anything else I can do to help you with banking issues. I'll be right here to assist you further.

View solution in original post

JamesDuanT · ‎December 09, 2020

We're glad that the steps provided by Glinette worked, Priscilla-fdsf.

Now, we can deal with the differences between your bank and In QuickBooks balances. There are different reasons why the balances have different amounts. It could be that there are:

duplicates in your QuickBooks register.
transactions are not yet recorded in QBO.
previously reconciled transactions were edited or deleted.
transactions are manually reconciled.

If the affected account was previously reconciled, you can follow the steps in this article on how to correct the balances: Fix issues for accounts you've reconciled in the past in QuickBooks Online.

If this will be your first time to do a reconciliation, you can follow this article instead: Fix issues the first time you reconcile an account in QuickBooks Online.

Aside from those links, you might find these additional articles helpful:

We'll be right here if you have additional queries on how to correct the account balances.

View solution in original post

Jessica_young · ‎December 09, 2020

Hey there, @Priscilla-fdsf.

Sounds like what you'll need to do here is match your check recorded in QuickBooks with the transaction coming from the bank feed! Match means QuickBooks matched the downloaded transaction with the one you already entered. This links them together so you don't get duplicates. Here's how:

Find a downloaded transaction with the Match option in the Action column.
Note the Date, Description, Payee, and amount spent or received.
Select the downloaded transaction to expand the view.
Review the Matching records found. This is the possible matching transaction you already entered in QuickBooks.
Select the link next to each match to get more details.
Make sure this is the correct match. In particular, review the Deposit to, Payment method, and Bank account fields on forms for the existing transaction in QuickBooks.
If this is the correct match, close the open transaction.
Select Match.

QuickBooks now knows the downloaded transaction is the same one you already entered. It connects the two so there are no duplicates. Tada, that's it!

To read about this process in its entirety, check out this article: Categorize and match online bank transactions in QuickBooks Online.

Let me know if there's anything else I can answer for you, I'm always happy to help!

Priscilla-fdsf · ‎December 09, 2020

Thank you.

So because this transaction happened in September, it's already "matched" but I think it did so incorrectly. In the action column, it only gives me the option to "Undo." If I undo, won't that affect my books when I want to reconcile? Or is there another way around that?

GlinetteC · ‎December 09, 2020

Glad to have you back, Priscilla-fdsf. I'm here to share additional information on how to handle this in Quickbooks Online.

If the period is reconciled, then the check that was matched will turn unreconciled, and transactions from the banking will return to pending. You can add this back and categorize this correctly as to the original without matching to the check where it incorrectly matched. Then, manually Reconcile it on the Bank register.

Once done, match the unreconciled check to the newly posted/cashed check.

These references are sure to help you succeed while reconciling:

Please let me know if there's anything else I can do to help you with banking issues. I'll be right here to assist you further.

Priscilla-fdsf · ‎December 09, 2020

Thank you Glinette.

I did those things and it worked! But my QBO balance and bank balance difference increased. QBO balance is higher than my bank balance. How can I correct that?

JamesDuanT · ‎December 09, 2020

We're glad that the steps provided by Glinette worked, Priscilla-fdsf.

Now, we can deal with the differences between your bank and In QuickBooks balances. There are different reasons why the balances have different amounts. It could be that there are:

duplicates in your QuickBooks register.
transactions are not yet recorded in QBO.
previously reconciled transactions were edited or deleted.
transactions are manually reconciled.

If the affected account was previously reconciled, you can follow the steps in this article on how to correct the balances: Fix issues for accounts you've reconciled in the past in QuickBooks Online.

If this will be your first time to do a reconciliation, you can follow this article instead: Fix issues the first time you reconcile an account in QuickBooks Online.

Aside from those links, you might find these additional articles helpful:

We'll be right here if you have additional queries on how to correct the account balances.

Priscilla-fdsf · ‎January 08, 2021

Thank you for this response.

I am having a hard time adding back the deleted transaction. When i recreated the expense and went to chart of accounts to mark it with the "R" the error message below popped up. Should I click "yes?"

MirriamM · ‎January 08, 2021

Hello again, @Priscilla-fdsf.

You're correct. To save the transactions you've made manually, click Yes to confirm.

In the future, to reconcile bank transactions, go the Gear icon at the top then choose Reconcile under TOOLS column.

You can visit this Reconcile hub link where you can find everything you need to know about Reconciling, as well as ensuring your QuickBooks balance matches with your real-life bank.

For future help, here's a resource to help you get ready during tax season: QuickBooks Online Year End Prep and Resources.

I'll be right here to help if you have any other questions. Feel free to drop a reply below. Have a great day.

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Quickbooks online refund check cashed at later date