Bank Rec

TomD227 · ‎June 06, 2025

I made a cash deposit into Quickbooks in August of 2024 for1 months office rent and it was never accounted for in that year thus my accountant only entered 11 months of rent for that year. It is still showing up as a deposit on my August 2024 bank reconciliation with no account to associate this with. If I associate it to office rent which is really where it should be, I will be upsetting the 2024 Balance Sheet, P&L, and Tax Return for that year which has already been filed. How do I fix this

Rainflurry

@TomD227

I forgot to mention that if the deposit was recorded using a payment receipt (Customers > Receive Payments), it needs to be applied to an invoice. If you're on cash basis and there's an open invoice from last August, apply the payment to that invoice, and it will record the income in 2025. If you're on accrual basis, create an invoice dated 2025 and apply the credit created by the payment/deposit to that invoice. Either way, you will show 13 months of rental income in 2025.

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Rainflurry

@TomD227

"It is still showing up as a deposit on my August 2024 bank reconciliation with no account to associate this with."

If the deposit was recorded in August 2024 and it's on your bank rec, then it must have an account associated with it. QB works based on double-entry accounting, so in addition to the deposit hitting your bank account, it must also be hitting another account; otherwise, your balance sheet wouldn't balance. Pull up the August bank rec screen and double-click on the deposit. That will pull up the transaction used to record the deposit. What account is assigned to it?

Rainflurry

@TomD227

I forgot to mention that if the deposit was recorded using a payment receipt (Customers > Receive Payments), it needs to be applied to an invoice. If you're on cash basis and there's an open invoice from last August, apply the payment to that invoice, and it will record the income in 2025. If you're on accrual basis, create an invoice dated 2025 and apply the credit created by the payment/deposit to that invoice. Either way, you will show 13 months of rental income in 2025.

TomD227

Thank You

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