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Mimmo Lax
Level 1

Bank Credit

Because of series of event my Bank issued a credit for a double charge.

This credit was entered in QBO.

Months later, when I was cleaning up my A/P Aging report I saw it still there, so I tried to delete since it was entered to maybe just balance things out.

But when I do that I get the warning that "this transaction is connected to a previous reconciliation and will throw things out of balance".

When I entered bank fees expenses the credit shows in the right column as un-applied.

 

How can I clean this out without messing with previous reconciliation?

Solved
Best answer September 30, 2020

Best Answers
MirriamM
Moderator

Bank Credit

Hello there, Mimmo Lax. I appreciate you providing detailed information about your concern. 

 

If the double charged was accounted to the Accounts Payable (A/P) account of the vendor. Then, the credit from the bank that is a deposit should also post to A/P. Doing so will match the transaction and offset. 

 

Before doing so, you can check this with your accountant to ensure your books are accurate. 

 

In case you need some tips when reconciling account in the future, visit these articles:

Feel free to click the Reply button below if you have other questions about managing your transactions in QuickBooks. I'm always here to help. 

View solution in original post

1 Comment
MirriamM
Moderator

Bank Credit

Hello there, Mimmo Lax. I appreciate you providing detailed information about your concern. 

 

If the double charged was accounted to the Accounts Payable (A/P) account of the vendor. Then, the credit from the bank that is a deposit should also post to A/P. Doing so will match the transaction and offset. 

 

Before doing so, you can check this with your accountant to ensure your books are accurate. 

 

In case you need some tips when reconciling account in the future, visit these articles:

Feel free to click the Reply button below if you have other questions about managing your transactions in QuickBooks. I'm always here to help. 

View solution in original post

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