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Andrew Jones
July 17, 2023
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Reconciliation Question: changing date in QBO to match when cleared by bank

  • July 17, 2023
  • 1 reply
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We have been using an outside accounting firm for a couple of months, and I just realized that they have been changing the dates in QBO for checks and deposits so that they match the date the transaction cleared the bank, if in a subsequent month. For instance, I wrote a check in QBO on 3/31/23, but it didn't clear until 4/3/23. The firm changed the date in QBO to 4/3/23. They do it every month. For smaller transactions, it doesn't make much of a difference, but I don't understand why they would keep doing it. Any input on the pros and cons would be appreciated.

Best answer by Archie_B

Hi there, Andrew. I'll share a few details about the advantages and disadvantages of changing the transaction dates in QuickBooks Online.

 

It's possible that your accounting firm is intentionally changing the check dates to make it easier to reconcile your bank account in QuickBooks. Keep in mind that your bank statement must always be the basis for reconciling transactions. 

 

However, since the transaction dates have changed, this may have an impact on some of your financial reports wherein it will be based on the date the check has been cleared versus the date you created them.

I've included this article so you can read the entire guide to reconciling an account: Learn the reconcile workflow in QuickBooks.

Let me know if you have any further questions about the reconciliation process or other banking concerns. I'll be here to assist.

1 reply

A
Archie_BAnswer
July 17, 2023

Hi there, Andrew. I'll share a few details about the advantages and disadvantages of changing the transaction dates in QuickBooks Online.

 

It's possible that your accounting firm is intentionally changing the check dates to make it easier to reconcile your bank account in QuickBooks. Keep in mind that your bank statement must always be the basis for reconciling transactions. 

 

However, since the transaction dates have changed, this may have an impact on some of your financial reports wherein it will be based on the date the check has been cleared versus the date you created them.

I've included this article so you can read the entire guide to reconciling an account: Learn the reconcile workflow in QuickBooks.

Let me know if you have any further questions about the reconciliation process or other banking concerns. I'll be here to assist.

A
Andrew JonesAuthor
July 18, 2023

Thanks for the input.

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