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LabyDen
Level 1

Refund from bank

Good day,

 

My business operates on a CASH BASIS (so no accounts payable/receivable etc.). The bank overcharged me for bank charges so they corrected the error by directly depositing the over-charged amount into my bank account. How do I record such a transaction in QB so that my books match the bank statement in this regard?

 

Thanks

Denver

1 Comment 1
RCV
QuickBooks Team
QuickBooks Team

Refund from bank

Let me help you record the overcharged bank transaction in QuickBooks Online (QBO), LabyDen.

 

We can create a deposit to record the overcharged amount back to your bank account in QBO. Each bank deposit creates a separate record in QuickBooks. Just make deposits one at a time for each of your deposit slips. Here's how: 

  1. Click the + New Plus icon. 
  2. Select Bank Deposit.
  3. From the Account dropdown, choose the account you want to put the money into.
  4. Choose the checkbox for each transaction you want to combine.
  5. Make sure the total of the selected transactions matches your deposit slip. Use your deposit slip as a reference.
  6. Press Save and close.

 

To learn more about this one, see the Record and make bank deposits in QuickBooks Online article. Also, you may incur bank charges when receiving payments from your customers. To handle this one, follow the steps and details in the Record bank charges when receiving payment from customer article.

 

Feel free to visit our Banking page for more insights about managing your bank feeds and reconciling accounts.

 

You can always update us after performing the steps in the comment below. I'd like to ensure this is resolved for you. You have a good one.