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Sparqitecture
Level 1

Bank Service Fees

When I add a bank service fee while reconciling the account, an equal deposit entry is also created reversing the fee.  How do I remove that wrongful "ghost" deposit?

3 Comments 3
Jen_D
Moderator

Bank Service Fees

Thanks for coming here and posting your banking concern, @Sparqitecture,

 

I'll be right here to help you resolve the duplicate entry. Before that, are you seeing this ghost deposit during the reconciliation? Also, how did you record the service fee? I want to make sure we're on the same page.

 

To find this entry, try to look into the register and see if a duplicate transaction shows in there. To do that, go to the Company menu, then click Chart of Accounts. Double-click the name of an account to open the register. You can also use the Open Register option the bottom of the COA.

 

For your guide, see this user manual for QuickBooks Mac: QuickBooks Desktop for Mac User’s Guide 

 

Please update me on the result. I want to make sure your reconciliation is complete. Have a good one!

Sparqitecture
Level 1

Bank Service Fees

The service charges were entered at reconciliation.  For the past several months, when the $3 service charge is entered in the reconciliation, an equal $3 deposit has been automatically entered in the register.  The deposit is also noted as “Service Charge” in the register.  The service charge payment is checked as reconciled, while the equal deposit remains unchecked.

MirriamM
Moderator

Bank Service Fees

Hello again, @Sparqitecture.

 

Thanks for getting back to us and providing additional details. I'm here to point you in the right direction so you can correct your bank records.

 

The reason why bank fee is showing both as payment and deposit in the register or when reconciling is when the bank account is incorrectly assigned twice. 

 

To fix the issue, re-categorize the bank fee as an expense on the Reconcile screen or Bank Register. You'll need to change the account from Bank to the Expense account your use for bank fees. Doing so will automatically remove the duplicate and corrects the bank balance. 

 

To avoid this problem to happen in the future, ensure the account selected when categorizing transactions. 

 

For guidance when reconciling, feel free to visit this article: Reconcile bank and credit card accounts (Mac).

 

In case you'd encounter issues in the reconciliation process, check out this link for a fix: Find reconciliation discrepancies (Mac).

 

Please let me know how it goes by clicking the Reply button. I want to make sure that everything is taking care of. Have a nice day.

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