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mrbill0626
Joined: 12 Apr 2008
Posts: 17
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| Posted: Wed Sep 03, 2008 2:05 pm Post subject: Recording checks to vendors |
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Hello out there:
Another quick question: When a client writes several checks to the same vendor during a month, and I'm using QuickBooks, would it be advisable to enter the total of all of them, as one transaction or better to list each one separately? Because some of them were written with starter checks without check numbers and the rest have numbers.
Thanks
Bill |
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dp1903
Joined: 23 Sep 2005
Posts: 170
Location: Wichita Falls, Texas
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| Posted: Wed Sep 03, 2008 2:29 pm Post subject: |
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| Think about what will appear on the bank statement. Each check will be listed seperately. If you combine the checks then it will be more difficult to reconcile the bank statement. Just imagine if you did this [combined checks for the same vendor] for a number of vendors monthly. Bank statement reconciliation would be a nightmare. |
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mrbill0626
Joined: 12 Apr 2008
Posts: 17
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| Posted: Wed Sep 03, 2008 3:06 pm Post subject: Writing checks to vendors |
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Can someone tell me if there is a way to delete transactions either in the check register or elsewhere on QuickBooks? I entered a check by mistake that wasn't actually used by the client.
Thanks
Bill |
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stasia2003
Joined: 25 Feb 2008
Posts: 199
Location: FL
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| Posted: Wed Sep 03, 2008 3:25 pm Post subject: Re: Writing checks to vendors |
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mrbill0626 wrote: Can someone tell me if there is a way to delete transactions either in the check register or elsewhere on QuickBooks? I entered a check by mistake that wasn't actually used by the client.
Thanks
Bill
To delete a transaction, you just go to that particular transaction, click on the Edit menu, and then you should see an option to delete a line/check. |
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Richard Noot
Joined: 20 Aug 2005
Posts: 912
Location: Minnesota
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| Posted: Wed Sep 03, 2008 9:32 pm Post subject: Re: Writing checks to vendors |
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mrbill0626 wrote: Can someone tell me if there is a way to delete transactions either in the check register or elsewhere on QuickBooks? I entered a check by mistake that wasn't actually used by the client.
Thanks
Bill Yes there is but you do NOT want to delete them Instead you should void them |
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dp1903
Joined: 23 Sep 2005
Posts: 170
Location: Wichita Falls, Texas
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| Posted: Tue Sep 16, 2008 8:16 pm Post subject: |
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| I agree with Richard on this one. |
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dp1903
Joined: 23 Sep 2005
Posts: 170
Location: Wichita Falls, Texas
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| Posted: Tue Sep 16, 2008 9:37 pm Post subject: |
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The reason it is better to void transactions is to avoid the "appearance" of any type of fraud or theft involved with the accounting and sometimes you may need to look at a voided transaction for various reasons. You can't do that if it is deleted. Most CPAs will recommend voiding rather than deleting transactions.
There is an area in QuickBooks which shows what transactions were deleted, if the audit function is turned on. |
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