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K
kaguilbeau
December 28, 2023
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Incorrect month-end date used on past reconciliations

  • December 28, 2023
  • 1 reply
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My client does their own bank reconciliation.  Several months ago, she entered the wrong year and proceeded to reconcile.  For example, she was reconciling January 31, 2023 and she put January 31, 2024.  QB took it and each month since she has used 2024 as the year.

 

How can I help her get this straight?

 

Best answer by Bryan_M

Thanks for coming here, @kaguilbeau.

 

Let me share info about the option you can perform to correct the reconciliation of your client.

The first option you proposed about continuing the 29th or 30th of the month until your client can utilize the 12/31/2024 is possible. However, it might cause discrepancies. If you use this, ensure to document the reconciled transactions for security purposes.

The second option is to undo the reconciliation and reconcile it again. Yes, you're correct. This might take a long time to perform. Yet, this will exactly fix the month-end and ensure the details are reviewed well. 

 

Here's how:

 

  1. Go to the Banking menu, then select Reconcile.
  2. In the Account field, select the bank or credit card account you want to reconcile.
  3. The Statement Date is automatically filled in. Usually, it's 30 or 31 days after the statement date of the previous reconciliation. Change it as needed to match your bank statement.
  4. QuickBooks also automatically enters the Beginning Balance. It uses the ending balance from your last reconciliation to get this number.
  5. Enter the Ending Balance based on your bank statement.
  6. Type in the Service Charge and Interest Earned based on your bank statement. Don't enter charges you've already entered in QuickBooks.
  7. Review the fields. If the info is correct, select Continue or OK.

 

You can read this article for more details: Reconcile an account in QuickBooks Desktop.

 

If you want to learn how to match bank feeds in QuickBooks Desktop (QBDT), check out this article: Add and match Bank Feed transactions in QuickBooks Desktop.

 

Feel free to come back here if you have additional questions about reconciling your transactions. I'll be willing to lend a hand. Have a good one.

1 reply

K
kaguilbeauAuthor
December 28, 2023

My thought was to tell her to put 12/30/23 when she does Dec 2023 reconciliation (12/31/23 was already used when she did 12/31/22).  She would continue like this each month, using the 29th or 30th of the month until she gets to Dec 2024.  At that time she would be able to use 12/31/2024.  

 

I suppose the other option is to unreconcile and reconcile again, but we are looking at 12-18 months.

Thanks for any suggestions.

Bryan_M
Bryan_MAnswer
December 28, 2023

Thanks for coming here, @kaguilbeau.

 

Let me share info about the option you can perform to correct the reconciliation of your client.

The first option you proposed about continuing the 29th or 30th of the month until your client can utilize the 12/31/2024 is possible. However, it might cause discrepancies. If you use this, ensure to document the reconciled transactions for security purposes.

The second option is to undo the reconciliation and reconcile it again. Yes, you're correct. This might take a long time to perform. Yet, this will exactly fix the month-end and ensure the details are reviewed well. 

 

Here's how:

 

  1. Go to the Banking menu, then select Reconcile.
  2. In the Account field, select the bank or credit card account you want to reconcile.
  3. The Statement Date is automatically filled in. Usually, it's 30 or 31 days after the statement date of the previous reconciliation. Change it as needed to match your bank statement.
  4. QuickBooks also automatically enters the Beginning Balance. It uses the ending balance from your last reconciliation to get this number.
  5. Enter the Ending Balance based on your bank statement.
  6. Type in the Service Charge and Interest Earned based on your bank statement. Don't enter charges you've already entered in QuickBooks.
  7. Review the fields. If the info is correct, select Continue or OK.

 

You can read this article for more details: Reconcile an account in QuickBooks Desktop.

 

If you want to learn how to match bank feeds in QuickBooks Desktop (QBDT), check out this article: Add and match Bank Feed transactions in QuickBooks Desktop.

 

Feel free to come back here if you have additional questions about reconciling your transactions. I'll be willing to lend a hand. Have a good one.

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