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H
Helen83
November 3, 2024
Question

What to do with transactions dated earlier than the opening date of a reconciliation?

  • November 3, 2024
  • 1 reply
  • 0 views

Hello QBO community!

The earliest credit reconciliation I see in my client's QBO is for the period 12 Oct 2023 to 11 Nov 2023.

However, there are transactions dated as early as 2022. I see some error in the reconciliation, so I want to undo it. I understand the error has something to do with the opening balance and some added or deleted items after the reconciliation was done. So when I redo the reconciliation, I'm a bit unsure what opening date and opening balance to use since there are transactions prior to the bank recon opening date which is 12 Oct 2023.

 

Appreciate any answer to my query and guidance.

1 reply

kabel1657
kabel1657
November 3, 2024

Hey @Helen83 !

 

If you’re redoing a reconciliation and find transactions dated before your current opening date (12 Oct 2023), you’ll want to set your opening balance to match the actual balance as of that date. Here's what to do:

 

  • Undo the reconciliation to reset any adjustments made after it was done.
  • Check that all earlier transactions (from 2022 or before) are properly categorized and not marked as reconciled if they don’t belong.
  • Set the opening balance to the bank balance as of 12 Oct 2023.
  • Redo the reconciliation carefully, ensuring no transactions were added or deleted afterward.

 

This keeps your records consistent! 😊

P.S.: I’m a QuickBooks ProAdvisor with 7+ years of experience. Need help with QuickBooks Bookkeeping?

 

Google my username, @kabel1657, to see my proven track record!

H
Helen83Author
November 3, 2024

Hi @kabel1657 ,


Thank you for the quick reply. Below are my follow-up queries:

 

1) Currently, transactions in QBO dated prior to 12 Oct 2023 are marked "R". Do I have to remove the Rs? What would be the implication if I don't remove the Rs? Cos I'm afraid there are a lot of them. I just checked again, there are even dated 2020.

 

2) There are 2 transactions that cleared in the credit card statements on 12 Oct 2023 that were booked on 1 Oct and 11 Oct. Since they belong to the 12 Oct-11Nov 2023 credit card statement, do I have to mark them R even if they were recorded in QBO prior to the opening date of the recon?

Appreciate you clarification on the above. Thanks!

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