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bookkeeper@cease
September 2, 2021
Question

Can I categorize transactions from last fiscal year that were mistakenly pulled into a new quickbooks account that started in the new fiscal year?

  • September 2, 2021
  • 1 reply
  • 0 views
I opened a new quickbooks account at the start of our fiscal year (July) but it appears that it pulled in transactions back to April (last fiscal year) and now my bank balance and quickbook balance are way off and will not reconcile. The transactions from last fiscal year are all currently excluded. Should I undo them and categorize them?

1 reply

Candice C
Candice C
September 2, 2021

Greetings, @bookkeeper@cease. 

 

It's great to see a new face here in the Community. I appreciate you coming here with your question about banking. 

 

First, let's clarify where the last fiscal year transactions are in your QuickBooks Online? A screenshot would be the best way to show where these transactions are. 

 

Next, you won't need to add your transaction from before July (you can keep them excluded).

 

In the end, I recommend running through the steps in the article if you haven't already: Fix issues the first time you reconcile an account in QuickBooks Online. 

 

Hit the Reply button when ready. I'll be just around the corner! 

B
bookkeeper@ceaseAuthor
September 2, 2021

The transactions from last year are only visible under the excluded tab.  I went in and I checked both accounts and the opening balance for quickbooks and the bank were the same.  Most everything is categorized and the discrepancy between the quickbooks balance and the bank balance is about $100,000 each - it looks like it is because of all of the excluded transactions.  I called in to quickbooks and the person I spoke with said that was what he *thought* as well - but wasn't really sure.

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