Bank error for my deposit

1. Go to the Banking menu and select Write Checks.
2. Choose the appropriate account and filter the Date.
3. Select the appropriate Payee and enter $50 difference.
4. Fill in the other information and click Save and Close.

It sounds like the bank made an error when processing your deposit. Since your customer paid the correct amount ($550), you don’t want to adjust your receivable or sales records. Instead, you’ll need to record the $50 discrepancy as a temporary item until the bank corrects it.

Here’s how you can handle it in QuickBooks:

1. Go to your Chart of Accounts and create an account called something like “Bank Errors” (type: Other Current Asset).

2. Record a Journal Entry for the difference:

   • Debit: Bank Account $50

   • Credit: Bank Errors $50

3. This keeps your books accurate and matches your records to the actual amount your customer paid.

4. Once the bank corrects the $50 and deposits it, you can simply reverse the entry by debiting Bank Errors and crediting your Bank Account.

If the bank refuses to correct it, you can write it off later as a small bank charge or loss, but ideally, the bank should fix the error.

If you’d like, feel free to message me, I’m a professional bookkeeper and QuickBooks freelancer based in the UK, and I can help you review your file or make the adjustment properly.