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zgunner
October 4, 2022
Question

Reconcile company that has not reconciled for 9 years- all information not correct

  • October 4, 2022
  • 1 reply
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I started as the office manager for a new company.  They had started reconciling, but have not done so in over 9 years.  How to I start over with 2022?  I want to be able to print a true profit and loss statements going forward.

Thank you,

 

 

1 reply

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Pete_Mc
October 4, 2022

Starting with a good Backup (or two)...   And you'll want to do this when no one else is in the system making changes in case you need to Restore your Backup.

 

If you have the statements you might try seeing how accurate your predecessor was.  Try going back to Dec. 31st maybe 2 or 3 years ago and try and Reconcile.  I'd have the Bank Register open as you do this and select the Hide Future option and then Select All.  I'd then look at the Register (you can roll down in the Reconcile page, but I like the Reg.) and look for those items written towards the end of that December that probably didn't clear and uncheck them.  Hopefully with a little checking and unchecking you can get the right combo to come out with a zero balance.  If that works, I'd start Reconciling month by month for the last two years. 

 

If it doesn't work, see how far off you are.  If it's not that far off, the CPA may just want to make an Adjusting Entry back a few years ago so you can Reconcile correctly going forward.  Bottom line is that you'll need to match the TAX NUMBERS filed.  (Brings up the question of how the Tax Accountant and/or CPA didn't want the accounts Reconciled???  And does an accurate number matter to them???)

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