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January 29, 2022
Question

My account reconciliation is not in zeros and all transactions are unchecked, where are all these other amounts coming from? what can I do to start in zero?

  • January 29, 2022
  • 1 reply
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my account reconciliation is not in zeros and all transactions are unchecked, where are all these other amounts coming from? what can I do to start in zero?

1 reply

January 29, 2022

I've got your back in reconciling your account in QuickBooks Online (QBO), @luis-totalmateri. This way, you can keep your financial data updated and manage your transactions accordingly.

 

When you reconcile an account, you compare transactions in QuickBooks with the same ones on your bank statements. After you review everything, the difference between the ending balance in QuickBooks and your bank statement should be $0.00.

 

Some other amounts or transactions you have maybe because of the following:

 

  • Someone entered an incorrect ending balance at the start of the reconciliation.
  • There are missing or duplicate transactions in QuickBooks.
  • Someone entered transactions into QuickBooks that haven't cleared your bank yet.

 

To fix this, you'll first have to review your opening and beginning balances. Then when you know they're accurate, check the ending balance you entered. QuickBooks uses this to check for accuracy. To make sure you entered the correct amount, here's how:

 

  1. In the Reconciliation window, select Edit info
  2. Review the Ending balance and Ending date.
  3. Check your bank statement. Make edits as needed.
  4. When you're done, select Save.

 

Next, you'll have to combine multiple transactions into a single transaction, eliminate those you know are correct, enter those that aren't in QuickBooks, remove those that aren't on your bank statement, and review those that are slightly off. For the step-by-step guide, please refer to this article's Step 3 to 7Fix issues at the end of reconciliation in QuickBooks Online.

 

Once you're done, finish reconciling. To do this, please see this article: Reconcile an account in QuickBooks Online.

 

Also, to further guide you in doing and fixing a reconciliation in QBO, I'd recommend checking out this article: Learn the reconcile workflow in QuickBooks.

 

Let me know in the comments if you have other reconciliation concerns and questions about managing transactions in QBO. I'm always around to help. Take care, and I wish you continued success, @luis-totalmateri