Correcting an earlier posting error of a check

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Subject Author Date Correcting an earlier posting error of a check PT 02-24-2009  Re: Correcting an earlier posting error of a check N Owen 02-25-2009  Re: Correcting an earlier posting error of a check N Owen 02-25-2009  Re: Correcting an earlier posting error of a check PT 02-25-2009  Re: Correcting an earlier posting error of a check Haskel LaPort 02-25-2009  Re: Correcting an earlier posting error of a check Laura 02-25-2009
Posted by PT on February 24, 2009, 11:57 pm Please log in for more thread options QB 2008 Pro In September, I mistakenly posted a check from a customer to a miscellaneous income account, rather than to the related Account Receivable. Since then, the bank accounts have all gone through several months of bank reconciliations. What's the easiest way to fix this: that is, to clear the still open A/R, remove the bogus revenue figure and keep the bank account reconciliations intact? -- PT Posted by N Owen on February 25, 2009, 10:12 am Please log in for more thread options >QB 2008 Pro > >In September, I mistakenly posted a check from a customer to a miscellaneous >income account, rather than to the related Account Receivable. > >Since then, the bank accounts have all gone through several months of bank >reconciliations. > >What's the easiest way to fix this: that is, to clear the still open A/R, >remove the bogus revenue figure and keep the bank account reconciliations >intact? Open up the original deposit. Be sure the correct customer's name is on the misc income line. Change the misc income acct to your "accounts receivable" asset acct. Save & close the deposit. Check your customer balance, should be "-0-", if that is al that was showing open. Also, you will need to go into "receive payments" for that customer. Clear that invoice against the "available credits" that will be shown. Hoep this helps! N Owen Posted by N Owen on February 25, 2009, 10:15 am Please log in for more thread options >QB 2008 Pro > >In September, I mistakenly posted a check from a customer to a miscellaneous >income account, rather than to the related Account Receivable. > >Since then, the bank accounts have all gone through several months of bank >reconciliations. > >What's the easiest way to fix this: that is, to clear the still open A/R, >remove the bogus revenue figure and keep the bank account reconciliations >intact? 2nd note to my previous reply - only do what I've suggested if you have not closed your 2008 books & turned over to your tax preparer. If you have closed your 2008 books, then do a current year JE debiting misc income & crediting your accounts receiveble, being sure that the correct customers name is on that line. Then, follow other instructions to rec payments & clear that invoice with the available credit. N Owen Posted by PT on February 25, 2009, 2:36 pm Please log in for more thread options I had thought about it and came up with this sequence (which I haven't tried yet) 1. Make a backup of the QB file 2. Delete the original deposit which includes the affected check (as well as several others). 3. In the original sale receipt (which includes several other items) delete the affected check. 4. In Receive Payments (A/R) locate the affected receivable, and enter the check deleted in step 3 5. Make a new deposit which now should include all the original checks as were in the deposit deleted in step 2 plus the A/R receipt 6. In Banking | Reconcile, check off the new deposit. 7. If somewhere there's a screw-up, reload the backup of step 1, have cup of coffee, and do some more thinking How's that? -- PT > >>QB 2008 Pro >> >>In September, I mistakenly posted a check from a customer to a >>miscellaneous >>income account, rather than to the related Account Receivable. >> >>Since then, the bank accounts have all gone through several months of bank >>reconciliations. >> >>What's the easiest way to fix this: that is, to clear the still open A/R, >>remove the bogus revenue figure and keep the bank account reconciliations >>intact? > 2nd note to my previous reply - only do what I've suggested if you have > not > closed your 2008 books & turned over to your tax preparer. If you have > closed your 2008 books, then do a current year JE debiting misc income & > crediting your accounts receiveble, being sure that the correct customers > name is on that line. Then, follow other instructions to rec payments & > clear that invoice with the available credit. > N Owen > Posted by Haskel LaPort on February 25, 2009, 4:59 pm Please log in for more thread options >I had thought about it and came up with this sequence (which I haven't >tried yet) > > 1. Make a backup of the QB file > 2. Delete the original deposit which includes the affected check (as well > as several others). > 3. In the original sale receipt (which includes several other items) > delete the affected check. > 4. In Receive Payments (A/R) locate the affected receivable, and enter the > check deleted in step 3 > 5. Make a new deposit which now should include all the original checks as > were in the deposit deleted in step 2 plus the A/R receipt > 6. In Banking | Reconcile, check off the new deposit. > 7. If somewhere there's a screw-up, reload the backup of step 1, have cup > of coffee, and do some more thinking > > How's that? If you are a glutton for punishment then by all means go ahead with your idea. In my experience end users usually take the most difficult and convoluted route when confronted with simple problems. Haskel's solution is to enter a credit note for the customer and code it to misellaneous income. End of story. > -- > > PT > >> >>>QB 2008 Pro >>> >>>In September, I mistakenly posted a check from a customer to a >>>miscellaneous >>>income account, rather than to the related Account Receivable. >>> >>>Since then, the bank accounts have all gone through several months of >>>bank >>>reconciliations. >>> >>>What's the easiest way to fix this: that is, to clear the still open >>>A/R, >>>remove the bogus revenue figure and keep the bank account reconciliations >>>intact? >> 2nd note to my previous reply - only do what I've suggested if you have >> not >> closed your 2008 books & turned over to your tax preparer. If you have >> closed your 2008 books, then do a current year JE debiting misc income & >> crediting your accounts receiveble, being sure that the correct customers >> name is on that line. Then, follow other instructions to rec payments & >> clear that invoice with the available credit. >> N Owen >> > > Similar Threads Posted Correcting payment method error October 28, 2006, 7:20 pm Correcting Bank Deposit Error December 4, 2007, 12:57 pm Posting One Check Between Two Customers May 14, 2007, 1:45 pm Correcting sales tax payments February 10, 2009, 2:20 pm Strategy for correcting s-corp QB initialization - Will it work August 17, 2009, 11:37 am Re: Am I on the right track - second posting June 21, 2006, 12:28 pm Re: Am I on the right track - second posting June 21, 2006, 1:42 pm Posting a refund May 12, 2009, 9:29 pm "Posting Account is Invalid" March 8, 2007, 9:57 am Cost of Goods Sold not posting after a certain date? August 29, 2006, 12:59 am