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Hailey 123
November 1, 2022
Solved

How can I reconcile an account after I undid the reconciliation?

  • November 1, 2022
  • 2 replies
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I undid a reconciliation by mistake and cant reconcile it again is there any way of doing this?

The amount used to be e.g 12653.33 and now it says 9856.25. I am struggling to reach the amount that matches the bank statement and would appreciate any assistance there is.

 

Many thanks.

Best answer by Hailey 123

Thanks Hailey, if you're using QuickBooks Desktop, you can locate the opening balance by navigating to the lists menu > chart of accounts > search for and open the Opening Balance Equity or Bank account. If you're unable to see this, please begin a chat with us on this link so that we can set up a screen-share to locate this with you. If the starting balance, ending balance, and total amount of transactions in the specified period are correct, the account will reconcile. 👩‍💻


Seems I was doing itwrong as the reconciling has worked now. 

 

Many thanks for your support

2 replies

G
GeorgiaC
November 1, 2022

Hi Hailey 123, the reconciliation would need to be completed again as it's not possible to recover this. Do you have the correct starting balance when beginning the reconciliation? We've included our reconciliation guide here which has tips to help you with each stage. 🙂

H
Hailey 123Author
November 4, 2022

Hi there.

 

Thanks for getting back to me. The two balances match when I began the reconciliation however there seems to be a discrepancy of about £1500 and I cant seem to solve this. The transactions match the back statement and I did not change any of the transactions since the previous reconciliation as mentioned above. Would you have any tips on how to find what is wrong there or how to solve this? 

 

Many thanks. 

G
GeorgiaC
November 4, 2022

Thanks Hailey, will this be the first reconciliation on QuickBooks, or have you saved others prior to this (separate to the one that has been unreconciled)? If this is the first, it's worth checking that the opening balance has been posted, and if posted, that this this is still showing as reconciled. You can check this by navigating the the cog > chart of accounts > select account history beside the account > click the date column heading (to re-order from earliest > oldest). The opening balance should be the first transaction posted here, and should have an 'R' in the reconciled status column. You may also wish to check your bank statement for any uncleared transactions around the end date of your reconciliation period, that may impact the balance before they are cleared. 

H
Hailey 123Author
November 7, 2022
@GeorgiaC wrote:

You can check this by navigating the the cog > chart of accounts > select account history beside the account > click the date column heading (to re-order from earliest > oldest). The opening balance should be the first transaction posted here, and should have an 'R' in the reconciled status column.

 

Hi there. Thanks for getting back yo me. 

Could you provide a screenshot for this as I cant find this option?

 

You may also wish to check your bank statement for any uncleared transactions around the end date of your reconciliation period, that may impact the balance before they are cleared. 

 

I have matched the transactions with the bank statement and cant see any discrepancies there.

 

Any other suggestions?

 

Much appreciated.

Hailey

 

G
GeorgiaC
November 7, 2022

Thanks Hailey, if you're using QuickBooks Desktop, you can locate the opening balance by navigating to the lists menu > chart of accounts > search for and open the Opening Balance Equity or Bank account. If you're unable to see this, please begin a chat with us on this link so that we can set up a screen-share to locate this with you. If the starting balance, ending balance, and total amount of transactions in the specified period are correct, the account will reconcile. 👩‍💻

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