My bank made an error, and posted 2 overdraft fees to my account. After correcting this, they refunded the charges. How do I record this?

Recording a bank fee reversal is easy, Larry. I'm here to walk you through the steps:

In QuickBooks Online, you can make a bank deposit to account for the bank fee reversal.

Here's how:

1. Click the + New icon.
2. Select Bank Deposit.
3. From the Account drop-down menu, select the appropriate bank account.
4. Go to the Add funds to this deposit section, then select the expense account you use for tracking bank fees.
5. Enter the credit amount as a positive number.
6. Click Save and close.

To learn more about tracking a deposit, you can read this article: Record and make bank deposits in QuickBooks Online.

Additionally, check out this article for detailed steps in placing payments into the Undeposited Funds (UF) before combining them into a deposit: Deposit payments into the Undeposited Funds account in QuickBooks Online.

We're all ears if you have follow-up questions about bank fee reversals. Just hit reply, and we'll get back to you.