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M
Micki V
March 17, 2024
Question

QBDT Lost All Credit Card Reconciliations 2015 through last reconciliation of Sept of 2022.

  • March 17, 2024
  • 1 reply
  • 0 views

QuickBooks Desktop, my A/P dept merged some duplicate Credit Card Accounts together and lost years of all credit card reconciliations, from American Express C/C.

These all had once been reconciled, and now back to 2015 to present are all gone.

 

I did need to reconcile 2023 for this new company I am at. I found out there were 2 to 3 different duplicate credit card accounts, with different varying transactions in each. I needed to take a moment to think what was best to be able to make move these 7 difference accounts back into the original 3 credit card accounts. Before decision was made, I just find out that those just were merged by the A/P Department. Now I see that all the reconciliations are lost back to 2015. I do not even have all the statements dating back to then.

 

The last known reconciliation that was correct was in September 2022 before the duplicates and merge. Can I actually enter the amount of that last known reconciliation and run it for all years past at the same time?

And if anything is different, can I adjust.? Or can I just restart from October of 20212, or just start a new from 2023, to complete for taxes?

 

One Big question I have is, what if there where duplicates in the other those accounts, as in you have 2 duplicate credit card accounts in QuickBooks, and then two of the same transactions where in both accounts, and this may have happened more than once, who do I fix this? 

 

Any suggestions are helpful!! I am waiting for more advice before I go the CFO and CEO to determine how we are going to go about fixing this, before I move forward with the rest of the 2023, workup.

1 reply

R
RheaMaeH
March 17, 2024

Hello there, Micki V. Let me share some insights about reconciliations in QuickBooks Desktop (QBDT) and provide a solution to rectify this.

 

If the company file is backed up regularly, starting from the last correct reconciliation, it's recommended to restore the September 2022 data. This way, you can reconcile everything accurately without including the duplicates and incorrect account merges.

 

Here's how to restore a backup company file:

 

  1. In your QBDT, go to the File menu and choose Open or Restore Company.
  2. Click Restore a backup copy and then Next.
  3. Select Local Backup and then Next.
  4. Browse your computer for your backup company file. It should look like this: [Your company name].qbb.
  5. Choose a folder to decide where to save your restored company file, then click Open.
  6. Last, click Save.

 

However, if you don't have a backup, you can create a new one using your latest banking data. To include past transactions in QuickBooks, you can request an old statement from your bank and enter the transactions manually.

 

When reconciling your bank, it's important to undo all reconciled transactions from 2022 up to the latest reconciliation. Then, reconcile the deleted transactions entered in QuickBooks until they match your latest bank statements.

 

In case of duplicates or any other issues, it's best to seek help from your accountant. They can assist you in reconciling transactions and handling duplicates.

 

I'll add this article if you encounter issues in your reconciliation process: Fix issues when you're reconciling in QuickBooks Desktop.

 

Please let me know if you have any questions or need further assistance with reconciliation in QuickBooks Desktop. I'm always here to help. Take care, and have a lovely day.

M
Micki VAuthor
March 17, 2024

Thank you so much. I do know they use Right-Works (used to be right-Networks) a servicer/host, and the CEO informed me that they do their backups. I am assuming I can get this information from them. How would I update this information only and not anything else, as in does QBDT actually update different sectors of the software? Like just the Credit Card reconciliations for just the credit cards in questions. 

 

My question is concerning the credit card merge that was done to combine 6 credit card accounts back to just the 3 credit card accounts. As each of these credit cards had two accounts in QBDT, (One account name was Amex #101, the other American Express #101, and finally Am-X# 101), with the actual account was supposed to be Amex #101. (there is card #'s 101, 102, 103).

 

Yet there had been different people who created these different accounts, entering c/c transactions into one account or the other. Not sure if or how many transactions were entered in twice, by one person entering in one account and another one entering in another account. 

 

I was trying to reconcile transactions for the Credit Cards for 2023, I noticed this issue above, I was told that the last reconciliation was done Sept 2022. I would have to start at the October 01, 2022. The day before I was going to begin with this cleanup, the A/P Dept did a merge for all those duplicate accounts and merged to the one correct for each credit card. And have since then completed all new charges and feeds to current date into those corrected accounts. 

 

Now I see that all transactions on all 3 of those credit card accounts, were no longer reconciled since 2015, when they started using QuickBooks. How would I solve this? Do I have to go back and reconcile all those years, or can I start at October or even January of 2023? So, I that I may complete these books from last year. 

J
jeanbiverly_
March 17, 2024

Hi, Micki.

 

To ensure the accuracy of your financial records, it's important to consult your accountant for guidance on the records that you need to keep in the reconciliation process. 

 

If you don't have an accountant, you can find one through this link: https://quickbooks.intuit.com/find-an-accountant/.

 

Additionally, we recommend you visit the following articles for guidance on reconciling your accounts in QuickBooks Desktop (QBDT):

 

 

Please let us know if you have any other concerns related to QBDT. We're always here to help you in any way we can.

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