How to Record an Altered Check on QBO

Recording an altered check on QuickBooks Online (QBO) is a crucial task for maintaining accurate financial records. Altered checks can occur due to various reasons, such as a change in the payee’s name or the amount to be paid. This article will guide you through the process of recording an altered check on QBO, ensuring that your financial records remain up-to-date and accurate.

Step 1: Access the Check Register

The first step in recording an altered check on QBO is to access the Check Register. To do this, click on the “Expenses” tab on the left-hand menu, then select “Check Register” from the drop-down menu.

Step 2: Locate the Altered Check

Once you are in the Check Register, scroll through the list of checks to find the altered check. You can use the search function to locate the check more quickly by entering the check number or date.

Step 3: Edit the Altered Check

Once you have found the altered check, click on the check number to open the check details. Here, you will need to edit the information related to the altered check. This may include changing the payee’s name, the amount, or both.

Step 4: Update the Check Register

After making the necessary changes to the altered check, click on “Save and Close” to update the Check Register. This will ensure that the altered check is reflected in your financial records.

Step 5: Record the Altered Check in the Bank Account

Next, you will need to record the altered check in the corresponding bank account. To do this, go to the “Banking” tab on the left-hand menu, then select “Bank Accounts” from the drop-down menu. Find the bank account where the altered check was written and click on “View Register.”

Step 6: Locate the Altered Check

In the bank account register, scroll through the list of transactions to find the altered check. Once you have located it, click on the check number to open the check details.

Step 7: Edit the Altered Check in the Bank Account

In the check details, make the necessary changes to the altered check, such as updating the payee’s name or the amount. After making the changes, click on “Save and Close” to update the bank account register.

Step 8: Reconcile the Bank Account

Finally, it is essential to reconcile the bank account to ensure that the altered check is accurately reflected in your financial records. To reconcile the bank account, go to the “Banking” tab, then select “Reconcile” from the drop-down menu. Follow the prompts to reconcile the bank account, ensuring that the altered check is included in the reconciliation process.

By following these steps, you can successfully record an altered check on QBO, maintaining accurate financial records and ensuring that your business’s financial health is well-documented.