Reconcile issue - off by vendor credit

Getting the balance to zero out during reconciliation confirms that the entries in QuickBooks Online correspond precisely with the transactions occurring in your actual bank account. Allow me to guide you through this important process, @lisa-2i-t-com.

I also read from your previous post that you linked a credit to a bill. Can you clarify if the actual payment was processed and cleared in your bank in full amount before the credit was applied?

If that's true, this is why the numbers are not aligning during your reconciliation process. Your bank statement will reflect the full payment, not accounting for the credit that was applied afterward.

In this case, you'll need to remove the credit from the bill. Then, record the payment in full amount. This is to make sure that you can reconcile your bank without any discrepancies. Let me show you how:

1. Open the bill and click the 1 payment made link under the Paid status.
2. Click the date of the transaction under Date to open the bill payment.
3. Scroll down to the Credits section and uncheck the vendor credit.
4. Edit the amount in the Payment field to match your bank statement.
5. Click Save and close.

Now, the credit will remain in the vendor's profile and can be used for future transactions. Just make sure to apply it first before processing the payment to make sure the record in QuickBooks will match your bank statement.

If the credit was applied before the actual payment was sent, a different transaction with the same amount prevents the difference from being zeroed out. To locate it, you can follow the steps outlined starting from the Step 3 section of this article: Fix issues at the end of a reconciliation in QuickBooks Online.

However, I would recommend reaching out to your accountant for additional advice before making the changes. This is to make sure that everything is done correctly since this will affect your financial record.

Finally, I'd like to share these articles for additional guidance on your reconciliation after successfully downloading the bank statements:

• Undo or remove transactions from reconciliations in QuickBooks Online
• View, print, or export a reconciliation report in QuickBooks Online

Always remember that we are here and eager to assist you. Whether it's a follow-up or new questions while managing vendor and bank transactions in QuickBooks Online, we're just a post away and ready to help.