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September 13, 2023
Question

Reconciling A/R and A/P in QBOA

  • September 13, 2023
  • 2 replies
  • 0 views

I've been informed by QBks that QBO won't allow reconciliations for balance sheet accounts that aren't bank accounts or credit cards.  I have reconciled A/R and A/P and even Inventory accounts in Desktop versions for years.  
Now, I open the A/R register, see the "Reconcile" button VERY BRIEFLY before it disappears.

I was given full admin access to our QBO account and still the reconcile button disappears after showing up for 1/2 a second.

Why won't QBO allow reconciliations for these balance sheet accounts?
Thanks,
Shirley

 

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2 replies

DivinaMercy_N
September 14, 2023

I understand how important it is to balance your account, Shirley. I'll share information on how the reconciliation process works in QuickBooks Online (QBO). 

 

Yes, you're correct that QBO won't allow the reconciliation of Accounts Receivable (A/R) and Accounts Payable (A/P) accounts. This process is for making sure that your bank or credit card account's balance matches your real-life financial institution statements. Since A/R and A/P accounts are not bank or credit cards the Reconcile button won't appear. 

 

For reference, check out this article: Reconcile an account in QuickBooks Online.

 

I also added this helpful resource that you can use as a guide in case you need to review or edit transactions for each account: Find, review, and edit transactions in account registers in QuickBooks Online. 

 

QuickBooks Community is open 24/7 if there's anything else you'd like to know or ask about performing the reconciliation process. Please don't hesitate to post here again. I'd be willing to provide additional assistance to achieve your goal.

September 14, 2023

Thanks for the reply.  I understand how to reconcile accounts.  I'm disappointed at the limitations of Quickbooks Online, which I'm forced to use due to others needing to login to it. 

I'd hoped there was a workaround for this, outside of dumping the data in excel and creating my own manual reconciliation of other balance sheet accounts.

October 31, 2024

Balance sheet reconciliation has been a standard accounting practice for many decades, though it has evolved over time. Here are some key points about the history and development of balance sheet reconciliation as a standard practice.

Balance sheet reconciliation emerged as an important accounting practice in the early 20th century as businesses grew larger and more complex. However, it became more formalized and widespread in the mid-20th century. By the 1960s and 1970s, balance sheet reconciliation was widely recognized as a critical accounting practice.  It is now 2024 and QuickBooks is still lacking the functionality to reconcile all balance sheet accounts.   This feature needs to be available ASAP.

October 31, 2024

I COULDN'T AGREE MORE.  I can't believe  that such a basic function is not available.

But there are other basic things I need form QBOA that aren't available, so why should I be surprised.

Thank you for your reply.