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BettyJo1
May 16, 2021
Question

Need to fix a credit card reconciliation

  • May 16, 2021
  • 1 reply
  • 0 views

I'm working with Quickbooks Desktop.  Here is my problem.  I uncleared a credit card charge for the previous reconciliation by mistake and then when I tried to correct I made it worse. My boss needed the check for the current payment ASAP so when QuickBooks informed me that it was not in balance I just clicked "do it anyway". Now it appears that when I go into "reconcile" on my desktop I have 2 credit card statements in there to click on and reconcile.   Can you please help me.  I can see the check amounts on the right and the charges on the left.  WHAT DO I DO.  I need to fix this and put everything back to the way it was.  Thank you, Betty

1 reply

LieraMarie_A
LieraMarie_A
May 16, 2021

I've got your back, @BettyJo1. I'm here to help you put everything back to the way it was.

 

When reconciling, we start with the opening balance. We'll have to make sure the beginning balance matches the balance from your last reconciliation. To get this number, we can run the Previous Reconciliation report. From here, we can review all the cleared transactions, including the credit card charge that you've uncleared.

 

Here's how:

  1. Go to the Reports menu, then select Reports Center.
  2. Search and open the Previous Reconciliation report.
  3. Select the account you reconciled, then either Detail, Summary, or Both.
  4. Select Transactions cleared, plus any changes made to those transactions since the reconciliation.
  5. Select Display.

 

Take note of the ending balance. This should match your beginning balance when you start reconciling again. Under New Transactions, you'll see all the changes you've made since the reconciliation. I'd suggest clearing them manually from the account register.

  1. Go to the Lists menu and select Chart of Accounts.
  2. Look for the credit card account that needs fixing.
  3. Locate the uncleared transactions.
  4. Clear them by putting a checkmark.
  5. Once done, click Record.
  6. Click Yes to confirm.

 

After that, go back to your Previous Reconciliation report. Ensure that there are no more entries under New Transactions.

 

Once done, proceed to reconcile the next statement until the difference between your bank statement and QuickBooks should be $0.00.

 

I'm also adding these articles to learn more about reconciling an account and how to fix the beginning and ending balance issues:

 

I'd appreciate it if you can update me on your result or if you have any questions. I'm always here to help you.

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BettyJo1Author
May 16, 2021

Hi Marie,

I will return to work on Tuesday and put all the information you supplied me to work and when I'm done I will let you know how it worked.  Thank you so much for answering my request for help.  My boss is very picky and I don't want to let him down.  Betty

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BettyJo1Author
May 20, 2021

I did everything you told me to do and marked off all the unchecked items through the chart of accounts and corrected all of them.  Now when I go to "reconciliation" I see them all there and checked off with a balance 0.00.   When I hit Reconciliation, the next prompt it says I have a outstanding balance on this account "do I want to write a check".  I Already wrote a check for this amount and I don't know what to do.  In the account payable area it shows that it is still not paid.  Maybe I wrote the check and then marked it pay later???? In all my other payments under this account it does not indicate "BILL-PYMT CHECK" it just says CHECK.  What do I need to do now. How do I remove the Account Payable bill, which I believe is a duplicate??? I so appreciate your help. 

Thank you for your help, Betty 

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