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Remove previously deposited items from Undeposited Funds
You may have deposited a customer's check and then recorded a separate Payment. This will overstate your income because income is recorded by both the Invoice and the Deposit. If the Deposit was in a previous accounting period and cannot be changed, you can remove the Payment from the Payments to Deposit window. Create a zero deposit using the overstated income account.
Before proceeding with the instructions below:
Consult your accountant. You need to be certain that income and tax effects from previous fiscal years are recorded properly.
Create a backup of your data file without overwriting any other back ups.
To remove Payments from the Undeposited Funds account:
In the menu bar, select
and then select
In the Payments to Deposits window, select the payment(s)that was deposited separately and click
In the Make Deposits window, click the drop-down arrow on the first blank line in the
Select the overstated income account.
Enter the negative amount in the
column. Insure the Deposit total is zero.
Save & Close
KB ID# HOW13208
12/1/2015 3:43:09 PM
QYPPRDQBKSWS10 9132 Pro 2016 aeb701