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Old 01-17-2018, 03:03 PM
laurenBST laurenBST is offline
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Unreconciled Deposits

I've inherited a bookkeeping position for a small theater a few months ago and ran across an issue.

Here's some background: We use a ticket broker (BPT) to sell tickets online for us, they get a cut for a processing fee and then send us a check. Every month we record the amount they say we have earned in ticket sales (via our online account with them) and enter that in QB. At a later time (whenever the treasurer makes it to the bank) he deposits the checks from BPT and I reconcile this with the bank reconciliation every month. When I took this job over in October, I did notice there were some unreconciled things from the past still in there, but I didn't have time to research them, and everything was balanced at least for that month.

In November, the treasurer made a deposit in the bank with the note that 6 checks from BPT from June/July 2017 had to be re-issued (we never received them or they got lost), so he deposited them all together. I didn't know about this. When I went to enter the deposit in QB, I saw that the entries for these deposits had been made for June/July but never reconciled (obvs because we never got the money in the bank).

Sorry for being long-winded, but my question is how to handle this. How do I clear out that un-reconciled deposit from June/July so I can enter this one? I hesitate to ever delete anything, should I do a "fake" payment in QB to zero it out? Thankfully it all happened in the same year, but we view our year-budget on a per-show basis a lot so I don't want to mess anything up.

I have a lot of accounting experience but this is my first time using QB.
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Old 01-18-2018, 09:12 AM
BooksInVA BooksInVA is offline
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If it didn't happen then it is the same as being completely made up and should be deleted. If that isn't how they want it done, a reversing entry with notes in the memo of each explaining that the original deposit never happened may be even cleaner.
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