I have a way here to settle these amounts in QuickBooks, @VincentHS.
Since the transfer method didn’t work and doesn't change your balance sheet, you can create an expense transaction for 10,000 PHP and a 1250 RMB deposit instead. These will reflect the amounts accurately to your respective accounts.
You can follow the steps below to record an expense:
- Open your QuickBooks account.
- Go to the + New option.
- Click Expense.
- You can leave the Payee blank.
- Select the date and accounts you used.
- In the Category details section, enter the expense info.
- Enter the amount, then press Save and close.
For making a bank deposit in the program, please refer to the instructions listed below:
- Select the + New button again.
- Choose a Bank deposit.
- From the Account dropdown, select the account you want to put the money into.
- Enter and select the needed details.
- Hit Save and close when you’re done.
Check out these resources for more info and complete processes:
You can generate a report right after to track the transaction and see the changes. Then, you can use this guide to make sure the amounts are balanced and match your actual statements: Learn the reconcile workflow in QuickBooks.
Don’t hesitate to add a comment if you need more help managing your foreign transactions. I’ll be here to assist you. Have a good day!
