Skip to main content
J
JTD-in-TX
March 10, 2023
Question

Balance sheet transactions not appearing in bank reconciliation

  • March 10, 2023
  • 2 replies
  • 0 views

I’m new to QBO and am setting up a new Company, an LLC partnership with a lot of balance sheet activity.

 

I connected the bank and downloaded transactions beginning January 2022, then added the transactions to the books through the Banking section of QBO.

 

I went to reconcile the bank accounts — and found that several of the transactions are not coming through to the reconciliation with an amount. In other words, I see the transaction, but no dollar amount - which is throwing off the reconciliation.

 

In each of these instances, it’s an “expense” hitting a balance sheet account. Do I need to go back into these transaction and reconfigure as a “check?” Is this the fix to pull the transaction into the reconciliation?

 

2 replies

Daniela_A
Daniela_A
March 10, 2023

Hello there, @JTD-in-TX.

 

Allow me to share some insights when you reconcile your accounts.

 

Normally, the dollar sign won't show up in the reconciliation page however, you can verify the currency by checking the payment column. You can pull out your bank statement and check if it matches your reconciled transactions to the missing amounts. If so, you can exclude them and enter these transactions manually or import them to the missing amount on that date.  As always, I would recommend working with your accountant to keep your books accurate.

 

For additional reference, I've attached some articles you can use to learn more about fixing the account balances:

 

I want to make sure that you're able to get your problem fixed as soon as possible. I'm always here to lend a helping hand. Have a nice day ahead!

J
JTD-in-TXAuthor
March 10, 2023

Hi there @Daniela_A 

 

Not worried about a dollar sign, but do need the transactions to show up in the bank rec.

 

Please see below. The first 9/6 transaction with no amount is opened in the next photo - the $249,997.43 transaction posted as an expense to a balance sheet account.

 

Looking for and needing a fix.

Is the fix to treat this as a check? Will the transaction be reconcilable if treated as a check posted to the ballance sheet account?

 

Thanks!?

M
MadelynC
March 10, 2023

To get this resolved, let's get this check with accounting professionals, @JTD-in-TX.


I know how crucial this matter is. To ensure reconciliation is accurate, balanced, and has no difference, it would be best to contact your accountant for assistance. They can give you information and advice on what type of transaction would help to pull the entries into the reconciliation.


If you don’t have an accountant yet, you can visit our ProAdvisor website to find one. Our ProAdvisors can also guide you further from technical and accounting perspectives. Just simply enter your city or ZIP code.


I’ve got you an article that provides insights on how to make sure the amount matches your bank statements and how to handle mistakes when managing your financial records: Learn the reconcile workflow in QuickBooks.


You can count on me if you have any other questions or concerns besides these balance sheet transactions. Just let me know by adding a comment below. I’ll do my best to get back with a resolution. Keep safe always!

J
JTD-in-TXAuthor
March 11, 2023

@MadelynC , I’m a CPA. 

Q
QueenC
March 11, 2023

Thanks for replying back here in the Community forum, @JTD-in-TX.

 

Getting your issue resolved is my main priority.  In order to resolve this and have the balance sheet transactions show up in bank reconciliation, let me now direct you to our QuickBooks Online Customer Help. They have the resources to safely access your account, identify the underlying reason of this behavior, and offer you a permanent fix.

 

Here's how to get in touch with them:

 

  1. Go to the Help icon and select Contact us in the Search tab.
  2. From the What can we help you with field, enter your question.
  3. Click on Continue.
  4. Choose either Appointment, Callback, or Chat.

 

Moreover, I've added a helpful resource that'll guide you on what to do in case you've reconciled a transaction by mistake in the future: Undo or remove transactions from reconciliations in QuickBooks Online.

 

If you require any additional queries about the bank reconciliations in QuickBooks Online, don't hesitate to reach out to us again. Keep safe.

Terms & ConditionsAccessibility statement