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K
kg_consulting
May 25, 2024
Question

Bank Reconcilliation

  • May 25, 2024
  • 1 reply
  • 0 views

Good morning,

There's a first time for everything....

I have been doing this a long time and here's a new issue. I have a client who has reconciled checks and deposits from years ago that just showed up in their current bank reconciliation. How is that possible? They are using QuickBooks Desktop Pro 2024. Please help if you can.

Thanks, KG 

1 reply

G
GenmarieM
May 25, 2024

Welcome to the Community space, Kg. I'm here to assist you, and I'd like to gather a bit more detail to better understand the issue you're facing.

 

The reconciled transactions may have been unreconciled, causing them to appear on your current bank reconciliation. Here are some possible reasons for this:

 

  • Someone undid the last reconciliation.
  • The reconciled transactions were modified or removed by someone.
  • In the account register, cleared transactions were unchecked (uncleared).
  • Funds were moved from a previously reconciled bank account to a sub-account.
  • Converting company files (from QuickBooks for Mac to Windows or QuickBooks Online to Desktop) may cause issues (in the US only).
  • In the company's records, the transactions were never reconciled. This could be due to the file being restored from a backup, resulting in the data and reconciliations being overwritten.

 

You can consider doing a special reconciliation that uses an off-cycle strategy to correct.

 

Here's how:

 

  1. Go to the Banking menu and click Reconcile.
  2. Please select the bank account containing the transactions you need to reconcile.
  3. In the Date of Statement field, input the date for an "off-cycle reconciliation." This date is adjustable between your last reconciliation and the next scheduled one.
  4. In the Ending Balance field, enter the balance of your last successful reconciliation, then select Continue.
  5. Please ensure to mark the transactions you are correcting and re-reconciling in the Reconcile window.
  6. Make sure the Difference field shows $0.00.
  7. Once everything appears correct, click on Reconcile Now.

 

For detailed steps in performing special reconciliation, you can visit this article for guidance: Special Reconciliation.

 

I also suggest consulting your accountant for guidance and accuracy, as they can provide expert advice in handling this type of situation.

 

Remember, I'm here to support you throughout this process. If you have any other questions related to bank reconciliation or any aspect of QuickBooks Desktop, feel free to ask. Your success is my priority.

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