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Giovanna1971
May 25, 2022
Solved

Bank recon.

  • May 25, 2022
  • 1 reply
  • 0 views

Hi there,

I've received payment from customer at month end. But only invoiced in new month. When doing bank recon there was an adjustment for that amount paid in advance.

The next month invoice was done and when I try to reconcile that month I'm out by that amount as an uncleared transaction. 

I'm not sure how to sort that out?

Best answer by Giovann_G

Thanks for utilizing the Community space, Giovanna1971.

 

I'll help you fix this and ensure you'll be able to reconcile your account.

 

The uncleared transactions were most likely isn't correctly matched or cause by the adjustment made for the advance payment. If you completed the reconciliation, you could undo it. Then, you can record the advance payment as a retainer or deposit.

 

You can ask your accountant that has QuickBooks Online Accountant version to undo the reconciliation or manually edit each transactions to undo it. I'll show you how.

 

  1. Go to the Gear icon, then Chart of accounts.
  2. Locate the appropriate account, then click View register link under the Action column.
  3. Identify the transaction to edit.
  4. In the reconcile status column, repeatedly click the top line of the transaction to change the status from R to blank.
  5. Once done, hit Save.

 

After that, you can delete the reconciliation adjustment by going to the Chart of account and open the Reconciliation discrepancy account. Then, record the advance payment as a retainer or deposit by following the steps in this article for a complete guide: Record a retainer or deposit.

 

I also suggest consulting with your accountant. They might have other option to fix the uncleared transactions.

 

If you need to share your reconciliation reports, you can print or export them. Refer to this resource on how to do it: How do I view, print, or export a reconciliation report?.

 

Stay in touch with me by commenting below if you have follow-up questions about reconciliation or uncleared transactions. I'll be around to help you.

1 reply

G
Giovann_GAnswer
May 25, 2022

Thanks for utilizing the Community space, Giovanna1971.

 

I'll help you fix this and ensure you'll be able to reconcile your account.

 

The uncleared transactions were most likely isn't correctly matched or cause by the adjustment made for the advance payment. If you completed the reconciliation, you could undo it. Then, you can record the advance payment as a retainer or deposit.

 

You can ask your accountant that has QuickBooks Online Accountant version to undo the reconciliation or manually edit each transactions to undo it. I'll show you how.

 

  1. Go to the Gear icon, then Chart of accounts.
  2. Locate the appropriate account, then click View register link under the Action column.
  3. Identify the transaction to edit.
  4. In the reconcile status column, repeatedly click the top line of the transaction to change the status from R to blank.
  5. Once done, hit Save.

 

After that, you can delete the reconciliation adjustment by going to the Chart of account and open the Reconciliation discrepancy account. Then, record the advance payment as a retainer or deposit by following the steps in this article for a complete guide: Record a retainer or deposit.

 

I also suggest consulting with your accountant. They might have other option to fix the uncleared transactions.

 

If you need to share your reconciliation reports, you can print or export them. Refer to this resource on how to do it: How do I view, print, or export a reconciliation report?.

 

Stay in touch with me by commenting below if you have follow-up questions about reconciliation or uncleared transactions. I'll be around to help you.

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