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Accounting & Bookkeeping & Small Business Forum
Accounting, Bookkeeping, Marketing, and Small Business Resource
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| Posted: Fri Jan 21, 2005 8:32 pm Post subject: deposits not matching sales receipts |
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I have a client whose sales receipts don't match his deposits on his bank statement.
How do I record this in quickbooks pro? |
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Guest
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| Posted: Thu Jan 27, 2005 3:15 pm Post subject: RE: deposits not matching sales receipts |
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| There are several ways to handle this. The question is where is the over/short coming from. If the client is using the money pesonally before it gets to the bank, it should be counted as an Owner's Draw. If it is being used for incidentals, then they should be recorded. The Daily Cash Report in UAC's PB training, Module 3, helps to correct and understand this problem. If you need to record an Owner's Draw or an Over/Short you can add a line in the deposit window showing the correct account instead of undeposited funds. Recording shortages is taught in Exercize 36 of the UAC's guide to Quickbooks at www.knowquickbooks.com |
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