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D
DSG1
April 23, 2022
Question

Dealing with Voided transactions during a Reconciliation

  • April 23, 2022
  • 1 reply
  • 0 views

Two voided transactions which both have a Zero balance show on a reconciliation that I want to complete for my current fiscal year. The voided transactions are from the previous fiscal year. I did not notice them on any reconciliations that I completed for that fiscal year and am not sure why they did not appear in the month that they were voided.  The transactions are only in QBO and are not on the banking statements as they were never processed. I think one relates to a revision that the accountant made at the end of that fiscal  year.

They do not impact my balances for this year because there is no cost associated with either of them but I do not want them to appear on future reconciliations for this fiscal year.

How do I process them so that they disappear off the list of transactions to be reconciled? They each have a different date during the last fiscal year.

The reconciliation that I was completing allowed me to select them for that reconciliation but I am not sure if I should do that since they are not related to this fiscal year or the statement that I was reconciling.

Are there special steps that I need to follow to process them since they are from the previous fiscal year?

Can I complete the reconciliations that relate to this fiscal year and deal with them later or should I deal with the two items before doing any further reconciliations for this fiscal year.

Thanks ahead of time for your assistance and feedback!

1 reply

J
JamesM4
April 25, 2022

Hi there, 

 

Reconciliation can be a lengthy process and I'm glad you're using QuickBooks to help streamline this process. QuickBooks is designed to help you save time so you can do the things that you enjoy the most. I'll be glad to share more information about reconciling your accounts. 

 

Based on what you've shared, I highly recommend getting in touch with an accounting professional for expert advice on this. If you're not in contact with a professional, don't worry, you can search for one using this link here. Otherwise, I recommend you to check out these helpful resources with more info about reconciling in QuickBooks:

 

I encourage you to go through the articles above as they provide helpful information which will help you complete your reconciliation with ease. If you have questions, don't hesitate to reach back to me. I've got your back. 

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