Bank deposit - too much deposited
I had a cash payment of $1,353 which I intended depositing via the bank teller.
Very long queue for the teller so I did it via the ATM - took out the $3 in coins and added a $5 note of my own. (small family business).
But of course now I have an amount of $1,355 in Bank Deposits but only $1,353 showing in undeposited funds account and I can't think of any way to make it balance and get the $2 back to me.
With thanks for your assistance.
Hi Limor,
In your situation, you will need to create a transaction for the additional $2 and add it to the cash payment to match it with the bank feeds.
Here are the steps you can follow.
- Record the cash payment of $1,353 to the undeposited funds.
- Create a transaction for the additional $2 and record it against the undeposited funds.
- Create a bank deposit to move the total amount of $1,355 to the bank account.
Following this will match what happened in real life. Feel free to read through this link to understand the process of adding 2 or more transactions into one bank deposit.
Let us know if you need any other help.
Thanks,
Genreve
