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November 9, 2021
Question

Is it my account payable clear after bank reconcile

  • November 9, 2021
  • 1 reply
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1 reply

November 9, 2021

Hi  AL251,

 

Welcome to Community!  Your balance should be cleared after reconciling the account although in some cases there may be underlying causes that affect this process.  In QuickBooks Desktop it's recommended that you compare your transactions with the bank statement on a monthly basis, to ensure the information is accurate, transactions match and the account is balanced.  I'd be happy to go over some probable causes for you.

 

Initially, you'd want to ensure the opening balance and beginning balances are correct.  You'll also want to look for any transactions that may have been added, deleted or edited and you can view this possibility by reviewing reports such as the Reconcile Discrepancy, Missing Cheques or Transaction Detail reports.  Other possibilities may be that a journal entry was created to make an adjustment to a previous reconciliation, or there may be a transaction recorded that hasn't actually cleared the bank yet.  Essentially, the best course of action is to unreconcile the account, make any corrections necessary and then proceed to reconcile.

 

If you have any other questions, we're here for you!