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Bermuda1
November 13, 2020
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Deleting or "clearing" uncleared payments/deposits from previous and current period.

  • November 13, 2020
  • 1 reply
  • 0 views

Hello there, 

My bank reconciliations are all reconciled and up-to-date until Oct 2020.

However, when I generated the reconciliation report, I see more than $530K in uncleared cheques and $80K in uncleared deposits. 

Just a bit of background:

The previous bookkeeper migrated data from Sage to QBO at end of Oct 2019.

Banking transactions (mostly cheques/wire payments and some sales deposits) were posted via general journal entries to enter some Oct2019 and Nov2019 transactions. The year end is Nov 2019.

These entries are still showing as uncleared (uncleared payments total $531,000!!!). Yet, he reconciled the Dec2019 bank accounts. 

I am not sure how to go about "clearing" these items. Hoping someone can save me, as I'm nearing the Nov 2020 year end and need to resolve this soon!

Thank you in advance.

    Best answer by AileneA

    Hi there, Bermuda1. 

     

    Thank you for reaching out to the Community. In most cases, we don't recommend voiding/deleting transactions. Deleting previous unclear transactions may cause serious complications. What we can do is you can mark these transactions as cleared. Go to the Chart of Accounts, select the bank, and locate these transactions. Select it repeatedly click on the check column until you see the letter C. Then Save it. 

     

     

     

    I've added these articles for your reference about reconciliation: 

     

     

    You can refer to this article for future reference: Year-end guide and checklist. 

     

    Please don't hesitate to visit us here in the Community if you have other questions. I'm always here to answer your inquiries. Take care!

    1 reply

    A
    AileneAAnswer
    November 13, 2020

    Hi there, Bermuda1. 

     

    Thank you for reaching out to the Community. In most cases, we don't recommend voiding/deleting transactions. Deleting previous unclear transactions may cause serious complications. What we can do is you can mark these transactions as cleared. Go to the Chart of Accounts, select the bank, and locate these transactions. Select it repeatedly click on the check column until you see the letter C. Then Save it. 

     

     

     

    I've added these articles for your reference about reconciliation: 

     

     

    You can refer to this article for future reference: Year-end guide and checklist. 

     

    Please don't hesitate to visit us here in the Community if you have other questions. I'm always here to answer your inquiries. Take care!

    B
    Bermuda1Author
    November 13, 2020

    Hello AileneA,

     

    Thank you for the advice. By do this, it will not change the amounts in my completed bank reconciliations, right?

     

    Thanks again!

      MaryLurleenM
      MaryLurleenM
      November 14, 2020

      Hello there, Bermuda1,

       

      You're right. This will not affect previously reconciled transactions.

       

      Check out the articles provided by my colleague above for more reference on managing transactions in QuickBooks Online.

       

      Let me know if you have other questions.

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