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Accounting for a credit for an uncashed check
Hello. The bank credited our account for an uncashed check to one of our contractors. How should I enter this transaction to match the bank's credit to our account and credit our expense account.
Hi there, brussell2333.
Thank you for posting here in the Community. I'll be glad to help you record these transactions in QuickBooks Online (QBO).
You can create a bank deposit affecting the liability account. I also suggest reaching an accountant to get advice on what account to use when categorizing the transactions.
Here's how:
- Choose + New.
- Hit Bank Deposit.
- From the Account ▼ dropdown, choose the liability account you want to put the money into.
- Select the checkbox for each transaction you want to combine.
- Make sure the total of the selected transactions matches your deposit slip. Use your deposit slip as a reference.
- Tap Save and close or Save and new.
Once done, you can check this article to help you match transactions in QBO: Categorize and match online bank transactions in QuickBooks Online
Also, I've added this article for more information about running and customizing reports: Run reports in QuickBooks Online.
Please let me know if you have additional questions about recording uncashed checks in QBO. I'm always here to help. Take care!