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Grimayoj
Level 3

Monthly Bank fee Reversed

Our bank accidently charged me twice for a monthly bank fee.. They reversed one of them...

How do I record the reversal? Assuming I do a bank deposit...

Please walk me thru..
Thanks

Solved
Best answer March 28, 2023

Best Answers
ChristineJoieR
QuickBooks Team

Monthly Bank fee Reversed

Let's get started right away, @Grimayoj. I'll show you the reversing process of the bank fees in QuickBooks Online.

 

We need to deposit money into a bank fee reversal account. This action offsets the transactions.

 

Here's how:

 

  1. At the top right, click the Plus icon.
  2. Select Bank Deposit.
  3. From the Choose an account field. Then, select the bank account to deposit funds.
  4. Select the check boxes of the transactions to deposit in the Select the payments included in this deposit.
  5. In the Add funds to this deposit table, enter all necessary information.
  6. Make sure to use the same expense account offsetting the expense transaction.
  7. Click Save and close.

 

You'll want to record the deposit to undeposited funds and combine them. See this article for more information: Deposit payments into the Undeposited Funds account in QuickBooks Online.

 

If you need more help accomplishing your other tasks, please let me know by adding a comment below. Have a pleasant day ahead.

View solution in original post

1 Comment 1
ChristineJoieR
QuickBooks Team

Monthly Bank fee Reversed

Let's get started right away, @Grimayoj. I'll show you the reversing process of the bank fees in QuickBooks Online.

 

We need to deposit money into a bank fee reversal account. This action offsets the transactions.

 

Here's how:

 

  1. At the top right, click the Plus icon.
  2. Select Bank Deposit.
  3. From the Choose an account field. Then, select the bank account to deposit funds.
  4. Select the check boxes of the transactions to deposit in the Select the payments included in this deposit.
  5. In the Add funds to this deposit table, enter all necessary information.
  6. Make sure to use the same expense account offsetting the expense transaction.
  7. Click Save and close.

 

You'll want to record the deposit to undeposited funds and combine them. See this article for more information: Deposit payments into the Undeposited Funds account in QuickBooks Online.

 

If you need more help accomplishing your other tasks, please let me know by adding a comment below. Have a pleasant day ahead.

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