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julia8
February 9, 2023
Question

Bank Reconciliation

  • February 9, 2023
  • 1 reply
  • 0 views

I am missing a reconciliation from September 2022. The items are showing as uncleared but when I click on them to edit, it says they are already reconciled. The October 2022 through January 2023 reconciliations are complete and correct. Can you help me?

1 reply

R
Rasa-LilaM
February 10, 2023

Let me help and guide you on how to handle your reconciliation concern, julia8.

 

When you reconcile, you compare your bank statement to what’s in QuickBooks for a specific period of time. Ideally, the previous month's ending balance should match the next month's beginning balance. Your QuickBooks Online (QBO) register balance and the balance on your bank account should have matched at the end of the previous month.

 

It appears that the account has already been reconciled based on the information provided (though it shows as uncleared). Let's review your bank statement and compare each transaction to those recorded in QBO.

 

If everything matches, your accounts are balanced and accurate. If the reconciliation is incorrect, you can undo the reconciled entries. As always, I recommend consulting your accountant first before proceeding with the troubleshooting steps. They can offer advice on how to handle your concern and ensures the accuracy of your records.

 

In the event that you need to undo your reconciliation, take the following steps:

 

  1. Go to the Accounting menu on the left panel and select Chart of Accounts.
  2. Find the account and choose View register.
  3. Look for the entries you're working on.
  4. In the reconcile status column (indicated by a checkmark), repeatedly click the top line of the transaction to change the status, then Save.
    C - Cleared.
    R - Reconciled.
    Blank - Not cleared or reconciled.

 

For your reference, you can also check out this article for further guidance: How to unreconcile a transaction or undo a reconciliation.

 

If your business uses QuickBooks Online Accountant  (QBOA), you can also use the special reconciliation tool. With the help of this feature, you can change or remove numerous transactions from a previous reconciliation.

 

You can save the following link in your browser for future reference: Banking Hub. It includes a list of topics that will assist you in managing your deposits, troubleshooting reconciliation problems, and online banking.

 

Fill me in if you have any clarifications about reconciling your account or questions about the product. I'm more than happy to respond to them, julia8.

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