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lpf58
November 14, 2023
Question

Reconciliation

  • November 14, 2023
  • 2 replies
  • 0 views

I have amounts that are creating a difference when reconciling. It seems like these are attempts to make corrections and never removed.  These items appear on the the Reconciled, Not Reconciled and Cleared filtered reports.  How do I clear these items so I can balance the reconciliation?

2 replies

C
CamelleT
November 15, 2023

I'm here to guide you in fixing your reconciliation, lpf58.

 

Review the items you are planning to clear out. When you are sure that these aren't supposed to be in the reconciliation, proceed in checking if these are manually entered transactions. If so, you can delete them in the bank register. If these are from banking, you need to undo then exclude them. 

 

Here's how to delete manually entered transactions from the bank register:

 

  1. Go to Transactions.
  2. Select Bank transactions, then click Go to bank register.
  3. Find the transaction you need to delete.
  4. Click the transaction, then hit Delete.

 

Undo a transaction

 

  1. Go to Transactions and select Bank transactions.
  2. Select the Excluded tab.
  3. Look for the transaction you want to undo.
  4. Select Undo

 

Exclude a transaction

 

  1. Go to Transactions and select Bank transactions.
  2. Select the For Review tab.
  3. Select the checkbox of the transactions to exclude.
  4. Select Exclude.

 
Additionally, I'll share an article that will help you automatically categorize transactions for you: Set up bank rules to categorise online banking transactions in QuickBooks Online (intuit.com).

I'll be around if you need further assistance in fixing your reconciliation. Just leave a reply below. Have a great day ahead!

L
lpf58Author
November 20, 2023

I deleted those items that were manually entered and undid & excluded those from banking.  There's still a difference.  Was I supposed to do a special reconciliation?

Rainflurry
Rainflurry
November 20, 2023

@lpf58 

 

Please re-read my previous post.  Transactions from previous years should not be deleted because those entries are from closed periods and were used in preparing tax returns.  If they are from the current year, they can be deleted.  If they are from a previous year, they should be reversed in the current year.  How you do that is in my previous post.     

Rainflurry
Rainflurry
November 15, 2023

@lpf58 

 

Do not delete transactions if they are from a previous year.  If they are from a previous year, they should be reversed in 2023.  To reverse a payment, enter a deposit.  To reverse a deposit, enter a payment (check/expense).  Assign the same Account/Category to the transaction that was used on the entries that are messing up your reconciliation.  Then, clear them against each other the next time you reconcile.   

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