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keepyourbooks
February 14, 2021
Question

Clearing closed bank account with no statements

  • February 14, 2021
  • 2 replies
  • 0 views

I have a client who has a closed bank account that was previously connected to QBO. He no longer has access to statements, the bank is not being helpful and the balance shows a negative. This account has never been reconciled, the transactions are showing in 2017/2018. His previous person told him to ignore it, each month she would send him manuHow do I clear this account.

2 replies

C
Charies_M
February 14, 2021

I'm glad you made it here, ceejaydoubleu.

 

Let me shed some light on how to handle negative balance in QuickBooks Online Accountant.

 

Since the accounts were never reconciled with transactions from the years 2017 and 2018, you can ignore it or delete the transactions that are causing the negative balance.

 

Let's open the bank account from your register and change the filter to All dates. 

  1. Go to Accounting.
  2. Select Chart of Accounts.
  3. Click on the View register link for this equity account.
  4. Select All from the Reconcile Status drop-down option.
  5. Choose All dates from the Date drop-down option.
  6. Click on Apply.

Select the transaction that's causing the negative balance and click on Delete.

 

As for the actual reconciliation process, please view this article: Reconcile an account in QuickBooks Online.

 

If ever you encounter any issues during this process, have this article handy so you'll know how to resolve reconciliation problems: Fix issues when you're reconciling accounts in QuickBooks Online.

 

The Community is always open if you have other questions. I'll be around to help. Wishing you a great day ahead.

C
Charies_M
February 15, 2021

Hi there, ceejaydoubleu.

 

Hope you’re doing great. I wanted to see how everything is going about clearing the closed bank accounts you had yesterday. Was it resolved? Do you need any additional help or clarification? If you do, just let me know. I’d be happy to help you at any time.


Looking forward to your reply. Have a pleasant day ahead!

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