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I have a client that has created 4 expenses and associated them with the Chequing account when in fact they paid with personal funds. They then deposited an amount in the chequing account to cover the expenses, however, I did not realize the deposit was to cover the amount of the expenses.... I now have 4 unreconciled transactions and a deposit that I put to PD. Please help me if you can.
Hi Stacey!
The four transactions that are sitting in the bank rec need to be edited to make sure they no longer are "withdrawn" from the bank account, since that is not what happened in reality. You need to full edit each one. Does the client have an account set up for their personal bank account? If so, it is simply a matter of switching to the proper bank account. If not, then you have to edit the transaction so that the total of the transaction is 0.00, and the expense offsets to a personal draw account (or, shareholder's loan if the client is a corporation).
In regards to the deposit - I am unclear as to what exactly happened. Did the money actually get deposited to the bank account? And the client already made the entry? If this is the case, then simply reverse the deposit you made. If not, then you will need to clarify for me what exactly happened with the deposit.
I hope this helps out a bit!