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T
TUSSU
November 15, 2023
Question

Bank reconciliation out by 2k

  • November 15, 2023
  • 1 reply
  • 0 views

Hi,

I noticed that some of my credit card deposit entries had been entered incorrectly, I entered them as bank deposits and put the bank name into the account box and under "add funds to this deposit" in the account column there I put in what the money was received for in this case book binding. 

These entries had already been reconciled 

The bank is now saying it is out by 2k and when I click "we can help you fix it" it is saying on all entries under the column "last changed" that the date is invalid, I didn't change the date on any of the transactions. Also under "Change type" it says multiple changes. 

How can I fix this?

Best Regards,

Noel

1 reply

Angelyn_T
Angelyn_T
November 16, 2023

Let me assist you in fixing your bank reconciliation, TUSSU.

 

Since your bank reconciliation is out by 2,000, let's ensure to match your QuickBooks entries to your bank statements to avoid discrepancies. In this case, I recommend deleting the incorrect deposit transaction and tracking the credit card entries accordingly. 

 

  1. Go to the Gear icon, then Chart of Accounts.
  2. Look for your bank account, then click on View Register.
  3. Choose the deposit transaction, then Delete.
  4. Select Yes to proceed.    

 

After completing the task, make sure to record your transaction correctly. The date should be within your current reconciliation. You may consult your accountant for assistance in accurately posting the credit card deposit if necessary.

 

If you'd like to initiate a credit card credit, go to the +New icon and select Credit Card Credit. If you need to record payments you make to your credit cards, utilize the resources from this article as your reference: Record your payments to credit cards.

 

After ensuring that all details are accurate, manually reconcile the transaction through your register to resolve any discrepancies in your reconciliation.

 

  1. Go to your register.
  2. Find the newly created transaction. 
  3. Set R from the ✓ column, then Save.  

You may run through the resources from this article for additional hints on reconciling your accounts in our system: Reconcile an account in QuickBooks Online.

 

Additionally, discover what steps to take if QBO doesn't match your bank statement after a reconciliation in this material: Fix issues at the end of a reconciliation in QuickBooks Online.

 

Please notify me in the comment section if you have follow-up questions while working with your reconciliations. I'm just a few clicks away to help you again. Stay safe!

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