Stuck somewhere? What will you do if your accounts in QuickBooks Desktop don’t match with your bank statements at the end of reconciliation? Whenever you are reconciling an account, you match the transactions in QuickBooks with the one which are available on your bank statements. At the end, the difference between the two records should be zero $0.00. Not to worry, freely call QuickBooks Customer Care to get you away with such issues of QuickBooks Desktop.

Why ending balances does causes error?

• When someone typed a wrong ending balance at the start of the reconciliation.
• When someone edited or deleted transactions that were already reconciled
• When there are missing or duplicate transactions in QuickBooks company file
• When entered transactions into QuickBooks which are not matched with bank.
• When someone made an adjustment to your last reconciliation with a journal entry.

Method 1: Review your opening and beginning balances

If you haven’t seen balance, make sure your opening and beginning balances are exact. Once you know that these are accurate, you can start looking for other issues to resolve. Feel free to contact QuickBooks Customer Care.

Method 2: Search for changed, deleted, or added transactions

There are several reports in QuickBooks that show you if anything has been changed, deleted, or added.

Run a Reconciliation Discrepancy report
This report shows those transactions which were changed since your last reconciliation. They’re sorted by statement dates.
• In the Reports menu. Scroll over Banking and choose Reconciliation Discrepancy.
• Click on to the account you’re reconciling and then choose OK.
• Review the report. Look for any discrepancies.
• Talk with the person who modified the changes.
• Edit the transaction as needed.

Run a Missing Checks report
This report shows number of missing checks. These may be throwing off the ending balance of your reconciliation.
• In the Reports menu. Scroll over Banking and choose Missing Checks.
• Choose the account you’re reconciling and then choose OK.
• Review the report. Search for any transactions on the report that aren’t available on your bank statement.
• If they aren’t on your bank statement, then no Reconcilation is done.

Run a Transaction Detail report
You can use this for any modified transactions
• Click on to the Reports menu.
• Scroll over Custom Reports and
• Then choose Transaction Detail.
• Click on to the Display tab.
• In the Date From field, choose the earliest date in QuickBooks for the account.
• In the Date to field, choose the date of your last reconciliation.
• Move to the Filters tab.
• In the Account field, click on to the account you’re matching
• In the Entered/Last Modified field, match the Date from to the date of your last reconciliation. Then again match the Date to field to today’s date.
• Click on OK to run the report.

Method 3: Look for reconciliation adjustments

Sometimes users create an adjustment to force an account in QuickBooks to reconcile with their bank records. You shouldn’t do a reconciliation adjustment without your accountant’s guidance. When doing adjustments errors can’t be resolved. And if you resolve the errors afterwards, an adjustment causes problems in QuickBooks Company file.

To evaluate the account and make sure no one made an inappropriate adjustment.
• Click on to the Lists menu and choose Chart of Accounts.
• Click on Open to view the Reconciliation Discrepancies account.
• In the Dates field, adjust dates for your last little reconciliation.
• If there are adjustments which is making the account balance inaccurate. Make sure your corrections should not conflict with the adjustments.

Method 4: Finish reconciling

Want hurdle-free guidance to make yourself free from such issues with QuickBooks? If your answer is yes, then feel free to remain in touch with QuickBooks customer care executives through 24*7 helpline. Our team of technical experts is always there to make the users free from all sorts of technical glitches that they face with QuickBooks software on a daily basis. We always try our best to make our worldwide QuickBooks’ users happy in terms of resolving their issues or queries so that they can easily carry out their accounting tasks without many complications or you can also drop us a mail at support@helpdeskaccounting.com.

When we know how to create upfront retainers or deposits you must also be aware of how to apply or cancel upfront deposit or retainers. Not to worry, QuickBooks Error Support is always available at your place to guide you completely so that you can get rid of QuickBooks issues with QuickBooks desktop.

Type A: Enter upfront deposits or retainers as line items

When you are applying an upfront deposit or retainer to a customer’s invoice, you must enter it as a line item on the invoice, by reducing the total amount of the invoice by the amount of the deposit you made.

To type an upfront deposit or retainer as a line item on an invoice:

• Click on Open to open the customer invoice.
• In the Detail sections, on the next available line, choose the Upfront Deposit item you created from the Item drop-down menu.
• Type the amount of deposit to be applied on to the invoice in the Amount column.
• Click on Save and Close to save the file and exit from the file.

The deposit is entered on the invoice and reduces the amount which is due.

Type B: Apply upfront deposits or retainers as credits

When you are applying an upfront deposit or retainer to a customer’s invoice, you can now enter the amount as a credit to pay the invoice.

To apply an upfront deposit or retainer to an invoice as a credit:

• In the Customers menu, click on to the Create Credit Memos/Refunds.
• In the Customer: Job drop-down menu, choose the customer or job.
• In the Detail section, choose the Upfront Deposit item you created from the drop-down menu of Item list
• In the Amount field, type the amount of the deposit or retainer.
• Click on Save and Close.
• In the Available Credit pop-up dialog, choose Apply to an invoice and then click on OK.
• In the Apply Credit to Invoice dialog that is viewed, choose the invoice in which you want to apply the upfront deposit or retainer and
• Click on Done.

Canceled Job: Manage upfront deposits or retainers

What will you do when a customer cancels a job for which you accepted an upfront deposit or retainer, the deposit doesn’t remain as a debt. There are two methods available for upfront deposits for cancelled orders, on the basis of your business process:
• Keep small or complete part of the deposit
• Refund the complete deposit to the customer
Below mentioned are the steps to discuss for each method.

Option A: Keep small or complete part of the deposit

When the job is canceled, to keep all or a portion of the deposit:
• To generate an invoice for the customer.
• In the Detail section, choose the exact items for the canceled project
• On the next line, choose the item you created for Upfront Deposits in the Item drop-down menu.
• Type the amount of the deposit you are keeping as a negative value in the Amount field.
• In the Description field, type a note to make it easier to track this transaction in reports.
• Choose Save and Close to save the file and close it.

The portion of the upfront deposit or retainer you are carying is recorded as income, and the part you are not keeping is recorded as refunded to the customer.

Option B: To Issue a refund of an upfront deposit or retainer

To issue a refund:

• In the Customers menu, choose Create Credit Memos or Refunds.
• In the Customer: Job drop-down menu, choose the customer or job.
• In the Detail section, choose the Upfront Deposit item you created from the Item drop-down menu.
• Type the amount to be refunded in the Amount field.
• Choose Save and Close.
• In the Available Credit pop-up dialog that is appeared, click on Give a refund and choose OK to close the dialog.
• In the Issue a Refund dialog box, choose the bank account the upfront deposit or retainer was originally deposited in from the Account drop-down list
• Choose OK to close the dialog box.
• Click on Save and Close.

The refund is issued for the full amount of the upfront deposit or retainer.

We really expect till now you are over with entering or applying an upfront deposits or retainers on your own for advanced functioning. If still you face any issue or error be free to contact us at QuickBooks Error support for error free guidance. You can also drop us a mail us at support@helpdeskaccounting.com

Contact QuickBooks Support USA to deal with various types of issues, errors you come across. In this post we will study how to set up, record and manage upfront deposits in QuickBooks Desktop. There are various types of errors which occur in QuickBooks Desktop and some error occurs in QuickBooks Online.
There are various steps for products or services which need to be managed upfront deposits and retainers. In this post, we will take you to the complete glimpse of QuickBooks Desktop.

Method 1: To Set up an account for upfront deposits or retainers
While you are accepting upfront deposits or retainers, you must set up a current liability account for company because upfront deposits and retainers are debts, not income, even after deposition of money into your bank account.

To generate a liability account:

• In the Lists menu, click on to the Chart of Accounts.
• In the Chart of Accounts window, double-click and choose New from that specified pop-up menu.
• Choose Other Current Liability as the account Type.
• Type a name for the account in the Name field.
• Click on Ok.

Once the account is been created, you must create an item to use when recording upfront deposits or retainers.

Method 2: To create an upfront deposit item

To accept upfront deposits or retainers, you must set up an item to use when you record the specified transactions. To record upfront deposit you must connect to liability account.
To generate an item, follow below mentioned steps:

• In the Lists menu, click on Item List.
• Double-click on Item List window, and choose New in the pop-up menu.
• In the Type drop-down menu, click on the purpose of the deposits you want to collect.
• You can choose Service if you collect upfront deposits for services,
• Other Charge if you collect upfront deposits for products.
• Type a name for the item in the Item Name/Number field.
• Choose the Upfront Deposit liability account you created from the Account drop-down menu.
• Click on Ok.

You can now access this item to record upfront deposits or retainers you accepted.

Method 3: How to Record upfront deposits or retainers you receive

• In the Customers menu, choose Enter Sales Receipts.
• In the Customer: Job drop-down menu, choose the customer or job.
• If the Deposit To field is appeared to you, choose the account into which funds is to be deposited.
• If this field does not appear, the funds are categorized as Undeposited Funds which can be deposited later.
• Choose the payment method you want to pay.
• Type necessary information, such as the Date and Sale No, in the accurate fields.
• In the Detail section, choose the Upfront Deposit item you created from the Item drop-down menu.
• In the Amount field, type the amount of the deposit or retainer.
• Click on Save and Close.

The deposit or retainer is recorded as a liability.

Method 4: How to Create invoices

When you receive a retainer or an upfront deposit for a product or service, you are required to create an invoice for the product or service.

To create an invoice:

• In the Customers menu, click on to the Create Invoices.
• In the Customer: Job drop-down menu, choose the customer or job.
• Type required information such as the Date, Invoice number, Bill to, Sold to, and Terms in the exact fields on the form.
• In the Detail section, choose the items which must be included in the sale.
• Click on Save and Close.

Method 5: To Apply upfront deposits or retainers to invoices

QuickBooks Support USA will provide you all details. When you have given the product or service for which you had already accepted upfront deposit or retainer, and it’s already days for payment collection.
Hope we made clear to you regarding the management of upfront deposits and retainers in QuickBooks Desktop. If you need any kind of support you are free to ask for help to get away with these issues. You can anytime contact us at our QuickBooks Support USA; our team of technical experts are always on their foot to help you out and you can also drop us a mail at support@helpdeskaccounting.com.