How to Correct a Payment Applied to the Wrong Customer in a Prior Month that has been Reconciled

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1.      Find the deposit in question, print it anddelete it. You need to be sure that you know what checks comprise the deposit,the final totally, and the actual date of the deposit.
2.      If there are any line additions to the depositthat were not customer payments, you will have to re-enter those as QB will notstore that info
3.      Once you have printed and deleted, go to thepayment that was mis-applied
4.      Change the customer from the current incorrecton to the correct one, then apply the payment
5.      Double-check that the date remains the same
6.      Save & close
Then return to Make Deposits:
1.      Select the items that comprise the originaldeposit noting that the corrected customer payment now appears
2.      Verify the amount of the deposit and theoriginal date
3.      Save & close
To “fix” the now-altered Bank Reconciliation
1.      Get your last bank statement out
2.      Go to reconcile and select the bank account youwish to correct
3.      Enter the ending balance from the statement intothe ending balance window in QuickBooks
4.      CHANGE the reconcile date back to the date ofthe last statement (5.31.12, for example)
5.      CHANGE the date of the bank statements and theinterest earned windows down below
6.      Select continue
7.      Clear the deposit that you just corrected
8.      If you are in balance, select reconcile now
These steps will correct the application error, correct thedeleted deposit required to fix the error and re-reconcile the bank account sothat your beginning balance on your next statement will be accurate.If you still have questions, feel free to give the QuickBooks Gal a call! 775-348-9225