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Old 07-19-2016, 06:03 AM
BlackRock BlackRock is offline
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Join Date: Jul 2016
Posts: 2
JE to correct recon

I have been using QB Pro for some time and I am pretty confident in the day to day use for my small business. However, several month ago a customer starting paying me via direct deposit / transfers into my business checking account. I did not know how to handle the transactions and eventually changed the deposits to a business savings account. I do have a handle on matters now, but it left a $719.68 mistake in the checking account register. I have reconciled the accounts by hand for several months and the same mistake amount comes up every time, so I know I am right. The question is how do I do a JE to correct this and get back to reconciling the checking account within QB. What account do I debit and what account do I credit? In advance, thanks.
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Old 07-19-2016, 05:39 PM
Lorin Browning Lorin Browning is offline
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Join Date: Apr 2004
Location: Landrum SC
Posts: 656
The easy solution (if you are not using the QuickBooks bank reconciliation functions) is to make a general journal entry to credit your business savings account and debit your normal bank account by the amount you want to adjust. The credit lowers the balance in one account; the debit increase the balance in the other.

Once you get the balance in the business savings account to zero, you may want to go into your chart of accounts and mark that account as inactive so it will disappear from your reports.

To make a general journal entry, click on Company on top menu bar, then click on Make General Journal Entries in the drop-down menu.

To change the status of an account to inactive, click on Lists in the top menu bar, then click on Chart of Accounts. When the account list appear, click on Account in the box at the bottom left of the screen. Right click on the account, then select Make Account Inactive.
Lorin Browning, Ph. D.
Fellow -- National Tax Practice Institute
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Old 07-19-2016, 05:55 PM
BlackRock BlackRock is offline
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Join Date: Jul 2016
Posts: 2
JE for recon

Thank you very much for the response. I should have explained more clearly.
Soon after finding I had this problem I changed the account into which all the transfers are made to the savings account. My savings account is always in balance as of that change. The problem is with the business checking. I need to reduce the amount by $719.68.
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