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maavila161
May 19, 2022
Question

Reconcile

  • May 19, 2022
  • 1 reply
  • 0 views

I am reconciling my account and at the end there is a difference of $1648.09, which I know it is because of three different transactions. All three transactions are payroll expenses to employees but the pay date was 05/02/2022. My bank statement ends 04/29/2022. What should I do? Change the ending amount and subtract the $1648.09 or do an adjustment entry???

1 reply

C
ChristineJoieR
May 19, 2022

Hi there, @maavila161.

 

I'm here to discuss how QuickBooks Online handles reconciliation.

 

It's best to prepare and compare the actual statement to the list of transactions to reconcile during the reconciliation procedure. In this manner, any discrepancies are avoided, and you know which transactions have been reconciled, cleared, or are yet to be recorded.

 

If those three checks will be cleared in May, you'll have to record them in the same month. There's no need to include them in the April report and no need for an adjustment as well.

 

Here's an article to learn more about fixing your beginning balance: Fix issues for accounts you've reconciled in the past in QuickBooks Online.

 

I'm also adding this reference that guides you anytime you need help while doing or fixing a reconciliation: The Reconcile Workflow in QuickBooks.

 

If you've got questions about the information of your account reconciliation and transactions, please let me know in the comments. Use the Reply button below so that I can continue assisting you. Take care always!

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