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littletree1
April 9, 2024
Question

All balances somehow "reset" back to before

  • April 9, 2024
  • 1 reply
  • 0 views

I have spent the last few weeks updating my balance sheet to correctly assign each balance to its respective business/location. I was nearly complete when all of a sudden, hundreds of balances "reset" back to an Unspecified business/location. This is incredibly frustrating since I've worked hard to clean this up over the last week.

 

The only thing I can think of that caused this is my integration with BNB Tally which parses out Airbnb payments into their respective categories, respectively. But that should only affect the clearing house account. It shouldn't affect credit cards, bank accounts, and more.

 

So what the heck QB?

1 reply

R
RCV
April 9, 2024

Let me help you with assigning each balance to its respective business/location when running the Balance Sheet report, littletree1.

 

The transactions under not specified business/location are Accounts Receivable, Accounts Payable, or Payroll transactions might have amounts under “Not Specified” because their related transactions (Receive Payment, Pay Bills) can’t be split into different locations.

 

If this is caused by integrating BNB Tally which parses out Airbnb payments into their respective categories, we can manually divide the transaction based on location (if the related transactions need to be split into different locations). Just in case you are using the QuickBooks Online (QBO) Advance version, we can use the reclassify transactions tool to batch edit transactions. Here's how:

 

  1. From the Account types dropdown menu, select Balance Sheet to see your asset, liability, and equity accounts.
  2. From the Account list, choose the account with the transactions you want to change.
  3. Use these types, class, customer/vendor, and modify filters to filter the list. You can also select Accrual to see all paid and unpaid transactions or Cash to see only paid transactions.
  4. Click Find transactions.
  5. Select the checkbox for each transaction you want to change.
  6. Tap Reclassify.
  7. Select a new account to move the transactions to from the Change account to dropdown, a new class from the Change class to dropdown, or a new location from the Change location to dropdown. if you don’t see Change location to, you may need to set up locations for your account.
  8. Before you move transactions to Accounts Receivable or Accounts payable, make sure there's a customer or vendor. Don’t leave these fields blank. When you’re ready, press Apply.

 

You can check out this article for more details: Reclassify or move multiple transactions in QuickBooks Online Accountant and Advanced. If you are not using the Advance version, we'll need to manually recategorized the transactions. 

 

I've gathered a few articles for additional tips and details about reports and class:

 

 

I'm just one post away if you need further assistance with assigning each balance to its business/location. Do you need to customize or modify a report? Let me know and I'll lend a hand again.

L
littletree1Author
April 9, 2024

So none of the transactions that were linked to BNBTally are A/R, A/P or Payroll. They do affect the Clearing Account by creating an invoice and respective Payment that matches the bank record. 

 

But the changes are across credit cards and bank accounts, some of which are not even related. So I'm very confused. 

 

Unfortunately, I do not have Advanced. Is there a way to reverse the changes and go back to a previous version?

C
ChristineJoieR
April 9, 2024

Hello there, littletree1. I can see that you're having challenges with reclassifying your balance sheet in QuickBooks Online.

 

May I know if you've utilized the bank rule feature? If so, this could be the reason why some of your transactions are categorized as an unspecified category. 

 

If this option is turned on, it will automatically categorize transactions for you. The three criteria that can be specified in a bank rule condition are the transaction date, the transaction amount, and the description of the transaction. 

 

Follow these steps to verify or deactivate this function:

 

  1. Go to Settings. and select Rules.
  2. If you need to make changes to a bank rule, select Edit.
  3. In the Actions▼ dropdown next to the rule, you can choose to Copy, Disable/Enable, or Delete the bank rule.

 

If you require assistance from our Customer Care Team, please ensure to reach out to them during our designated support hours to receive prompt assistance for your concern. You can find more detailed information in the provided article: QuickBooks Online Support.

 

You can also follow the steps below:

 

  1. Log in to your account.
  2. Click the Help button at the top right corner.
  3. Go to the Search tab, then select Contact Us.
  4. Enter a brief discussion with your concern, then click Continue.
  5. Choose to Have us call you to connect with us.

 

I'm also adding this page for additional help if you need to start  fresh your QBO account. If you're a new customer, you can purge your data and start over. If you've used QuickBooks for a while, you need to create a new company. Please refer to this article: Delete your data and start over in QuickBooks Online.

 

We are still here if you need further guidance with managing your transactions. Ping me by adding a comment below.

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