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julie39
August 31, 2022
Question

Reconciliation error

  • August 31, 2022
  • 1 reply
  • 0 views

Hi

 

I am desperately trying to counteract an error on reconcilation of a bank account, but am struggling to do so.  The bank had been reconciled by a previous person but then had alterations made to entries some of which were deleted.  Each month that has been reconciled has the correct cleared amounts for amounts paid in and out, however, there appears to be a uncleared amount of £8.75 that is creating a mis-match on the register and what has been cleared on the bank statement which has carried through for several months.  This amount appears to have been deleted but is still showing as uncleared.  How do I remove this from the reconcilation to enable me to balance the books.  When I go to reconcile it also indicates that the beginning balance is off by -£16.20, which I also cannot seem to account for.  Any help would be gratefully received.

 

 

 

 

 

 

1 reply

K
Kevin_C
August 31, 2022

Hello there, @julie39.

 

It's great to see you posting here in the Community space. I'd be glad to provide details to help you fix the bank reconciliation error you've encountered.

 

I suggest double-checking if all of your transactions match your bank statements. You'll want to start by reviewing the original opening balance. Simply go to your Chart of Accounts and make changes from there if necessary. Here's how:

 

  1. Go to the Gear icon at the right top.
  2. Select Chart of Accounts under Your Company.
  3. Locate the account, then click Account history under Action.

  4. Find the opening balance.
  5. Edit the date, then the amount if needed. Just click Edit to make your changes. 
  6. Select Save and close.

 

Moreover, you'll get a message before you start reconciling if anyone makes a change that affects your beginning balance.

 

  1. Click We can help you fix it link to open your discrepancy report.

  2. Review the discrepancy report. 
  3. Before editing anything, talk with whoever made the changes.
  4. Select View to see the history of changes to the transaction.
  5. See the Change Type column as it tells you what changed.  

  6. Make edits based on the message in the Change Type column: Amount changed, Unreconciled in register, Reconciled in error, Deleted.

 

For the steps you need to take regarding the specific message, simply go to Step 4 in this article: Fix issues for accounts you've reconciled in the past in QuickBooks Online.

 

Furthermore, I'd recommend seeking assistance from your accountant to ensure that your books are accurate and to avoid messing up the data. They'll be able to help and provide more expert ways of dealing with this situation.

 

I've also added these references as your guide to view various guidelines that will guide you in reconciling the transactions:

 

 

Please keep us updated on how it goes or if you have other questions in mind, don't hesitate to reach back out. I'll be here to lend a hand. Keep safe!

D
david-lewis
February 7, 2023

Mary Jane at Quickbooks advised me how to synchronise the opening balance in Reconciliation with the displayed balance in the Banking Register.  This works if the register balance is correct and the reconciliation balance is wrong.

Open the Reconciliation window and enter the date of the day immediately following the one offered to you with the incorrect balance. 

Ensure that there are no entries in the Banking Register.  If there are redate them one day following the selected day so that that day is empty. 

Then hit the Reconcile button and follow the instructions that QB gives you to the bitter end regardless of what it shows.

Don't approve any data entries which the program shows you. Ignore them and close the window.

Reopen Reconciliation to reconcile the next period which will start on the day after your imposed date with the correct opening balance.

Without the advice I'd never have thought of this trick which makes a period of the single day without any activity except importing the closing balance from the Banking Register to use as the opening balance of the next period. TahDah!

 

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