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Whoo
January 26, 2025
Question

Credit card & Bank account reconcilation

  • January 26, 2025
  • 1 reply
  • 0 views

I've reconciled my bank statement which included payments to credit cards.  Now I am trying to reconcile a credit card account.  The cc account is showing the payment at month end but the bank statement showed the payment coming the day after month end, so the payment in my register is not within the reconciliation period for me to clear.  EX: For January reconciliation cc account shows payment 1/31 but the bank account has the payment out 2/1, and so trying to reconcile cc account for January isn't showing that payment to clear.  What can I do?

1 reply

R
RogelioL
January 26, 2025

Having different transaction dates at the month-end between your statements can be a bit confusing. Let’s sort this out together to ensure your accounts reflect the correct information, @Whoo.

 

When reconciling accounts in QuickBooks, we have to align your records with the official bank statements.

 

Since the bank statement records the payment on February 1st, and this is the actual date on which the funds were debited from your account, it's important to reflect the same date in your QuickBooks Online account to maintain consistency and accuracy in your financial reporting.

 

To resolve this, please follow the steps I've provided below:

 

  1. Go to the credit card account register in QuickBooks, where the payment is recorded as occurring on January 31st.
  2. Open the payment transaction and adjust the date to February 1st to match the bank statement.
  3. Save the changes. 

 

Now that the transaction dates align with your bank statement, proceed with reconciling the credit card account for January. This payment will now appear in your February reconciliation period, ensuring your January reconciliation closes accurately without this payment.

 

By making this adjustment, you're ensuring that your financial records accurately reflect the movement of funds in accordance with your bank transactions.

 

Additionally, you might find it helpful to check out these articles that explain what to do if QuickBooks Online doesn’t match your bank statement at the end of a reconciliation and how to undo reconciliation for an individual transaction from a completed reconciliation:

 

Moreover, if you're looking for assistance with reconciliation, you might be interested in a free consultation with our QuickBooks Live Expert Assisted. They can provide personalized help and advice to ensure smooth reconciliation processes within your QuickBooks Online account.

 

If there’s anything more you need help with or additional questions, feel free to reach out, @Whoo. Keeping your accounts precise is essential, and I’m here to assist you in achieving that.

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