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H
HRS2
February 2, 2024
Question

Fixing a Reconciliation and Reconciliation Adjustment

  • February 2, 2024
  • 1 reply
  • 0 views

I made an error when reconciling my banking account several months ago and inadvertently accepted the automatic Reconciliation Adjustment that QBO generated. I have located the erroneously reconciled transaction and changed the status to unreconciled (blank). I also unreconciled the Adjustment entry. Am I correct in assuming the adjustment entry will disappear, or at least not show up on a Reconciliation Report after my next reconciliation (next month)? 

1 reply

K
KayePe
February 2, 2024

Hi there, @HRS2. Let me give insights regarding the adjustment entry that you've been unreconciled inside QuickBooks Online (QBO).

 

Note that the adjustment entry will still show for your next reconciliation next month since you undo it. Since the issue you're experiencing is now fixed, I recommend not reconciling the adjustment entry so it won't show in the reconciliation report. On the other hand, reaching your accountant is necessary to guide you more on handling the adjustment you made inside QBO.

 

If you don't have an accountant, I can help you find one. Feel free to visit this page to find an accountant for your business: Find a QuickBooks ProAdvisor.

 

Moreover, you may also want to visit this article as a reference in unreconciling a completed reconciliation transaction in QBO: Undo or remove transactions from reconciliations in QuickBooks Online.

 

Reply to this post for more questions about reconciling an account in QBO. I'm here to help you. Take care!

H
HRS2Author
February 2, 2024

"Note that the adjustment entry will still show for your next reconciliation next month since you undo it." What do you mean? Do you mean it will still show up because I DID NOT undo it. 

R
RhoiceW
February 2, 2024

Hi there, HRS2.

 

When you manually undo a reconciled a transaction, it will show up in the adjustment entry on the reconcile page.

 

Since you were able to locate the incorrect transaction and fix the discrepancy last month, it isn't necessary to include the adjustment entry for your next month's reconciliation so that it won't reflect on the report.

 

However, if you want to remove the adjustments, you can consult an accountant for more guidance. However, you can also choose to leave them as they are.

 

In addition, you can check this article to know what is the error after reconciling: Fix issues for accounts you've reconciled in the past in QuickBooks Online

 

Don't hesitate to leave a comment if you have further concerns about reconciliation. The Community is always here to help.

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