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sharonmorrison
Level 1
posted
‎September 28, 2020 11:54 AM
last updated ‎October 05, 2020 9:12 PM

NEGATIVE DEPOSIT

I refunded a customer and another customer paid.  So I have a negative in my banking.  how do i reconcile that so "match or add"  when it won't let me put the larger amount of refund when i go to make my bank deposit.

 

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3 Comments 3
Rasa-LilaM
QuickBooks Team
QuickBooks Team
‎September 28, 2020 12:58 PM

NEGATIVE DEPOSIT

Thanks for reaching out to the Community about your concern, sharonmorrison.


I want to make sure you can make a bank deposit and reconcile transactions seamlessly. However, I need to gather more details about your concern.


May I know what comprises the negative deposit? Did you get an error when entering the refund on the Bank Deposit page? Any additional information you can share ensures a timely solution to the issue.

 

For future reference, these resources cover all the information about the reconciliation process and instructions to create refunds in QBO.

 

I’m looking forward to hearing from you soon. Thanks in advance.  Have a great day ahead.

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sharonmorrison
Level 1
‎October 01, 2020 10:38 AM

NEGATIVE DEPOSIT

I have 1 customer who we refunded $3950.00 and a second customer who paid us $250.   This created a debit in my bank account that I need to match but QB wont let you make a deposit less than zero.

The total on the debit is now $-3700.  I need to make a "bank deposit" from undeposited funds to match that amount.  How do I make this reconcile?

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JenoP
Moderator
Moderator
‎October 01, 2020 12:17 PM

NEGATIVE DEPOSIT

QBO will only consider them a match if transactions have the same amount, sharonmorrison.

 

You're also right that QuickBooks does not allow making a negative deposit. No worries, I have some workarounds to share that can help you reconcile these transactions. 

 

You can exclude the downloaded transactions from your bank. Then, manually clear or record the two transactions in your bank register in QuickBooks Online. Here's how:

  1. Go back to the Banking menu and proceed to the For Review tab.
  2. Select all personal transactions that you need to exclude.
  3. Click Exclude.

Once done, you can go proceed to your bank register and manually clear them if the transactions are already recorded. Here's how:

 

  1. Open your bank register and look for the transactions.
  2. Select View Register from the Action column.
  3. Under the reconcile status column, select C for cleared. 
  4. Click Save.

You can then proceed to reconciling your bank afterwards. Let me also share these articles for additional reference:

 

The Community is always here if you need anything else. 

 

 

 

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