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Established Community Backer ***
Re: Reconciling accounts

Hi Vicki, 

 

1. From what you explained, yes, it would go to opening balance equity account. Sometimes when you add the account, it will automatically post a transaction to that account to balance for reconciliation purposes so you might want to check that first. Smiley Happy

 

2. Yes, I would manually enter them. I think it would be easiest for you also. 

 

3. You can select the ones that are duplicate and at the top of the transactions list, click the dropdown and select exclude transactions. That will remove them from the bank feed. Smiley Happy

 

4. It would be up to you, but it does seem that if she really hasn't been using it all this time, it would be easier for you to start over. 

 

Hope this helps!! Smiley Happy

Established Community Backer ***
Re: Reconciling accounts
Hi Vicki,

1. QuickBooks automatically pulls through an opening balance when the bank account is connected. This could be at any point in time but normally 90 days. You can delete this out by navigating to 'Accounting' on the left hand navigation menu, finding the bank account and clicking on the blue hyperlink that says 'Account History'. You will need to scroll down until you see a post that states 'Opening Balance Equity' or something similar. Delete this out. Alternatively if you do need to enter an opening balance change the date and amount to correct it here.

2. You can actually upload PDF's into an application called Auto Entry. If the accounts have quite a few transactions it can take a lot of time to enter these all in manually. Auto entry will create an excel file from an uploaded PDF which will then allow you to import this into QuickBooks directly. Alternatively ask if she has an online banking to download an excel or CSV file directly from there so you can upload it.

3. Which bank is she with out of interest as I know HSBC have been pulling through duplication's recently? For any duplication's you can tick the box next to each transaction in the 'For Review' tab in banking and then click 'Batch actions' and 'Exclude Selected'. This will then move them to the 'Excluded' tab meaning they have been omitted from your bookkeeping.

4. I would delete out everything and upload via CSV if this is the case.

If you need any help please do not hesitate to get in touch.

Kind Regards,

Emily


Community Host
Re: Reconciling accounts

Thanks for these responses @EmilyMockett and @jessbru99568@vswebster, how is it going on your end? Were the comments helpful?

Community Explorer *
Re: Reconciling accounts

Yes! Thanks so much, @EmilyMockett and @jessbru99568. I am just waiting to run through the AutoEntry results that I received so I can take the final step of uploading missing transactions. I really appreciate the guidance from you both.

Community Explorer *
Re: Reconciling accounts

@EmilyMockett to answer your question, the bank is United Heritage Credit Union. Thanks again!

Established Community Backer ***
Re: Reconciling accounts

Oh okay I am based in the UK so am unaware of any issues with this bank but it might be worth giving QuickBooks support a call for any information on known errors.

Established Member
Re: Reconciling accounts

I have an account number for my banking.  The account for my savings and my checking is the same with the exception of the sub account.  The savings sub # is 00 and the checking is 19.  Why does my savings and checking show up under one account in QB.  Why are they not separated?  This is frustrating as I would like to reconcile my accounts.  I take care of my in laws accounts, my fathers and our own and this is happening to all of the them./

Established Community Backer ***
Re: Reconciling accounts

Hi Laura,

 

When you connect your bank account do you get the option to divide the account then? It may be worth creating the bank accounts in your COA first before trying to reconnect the bank?

 

Emily

QuickBooks Team
Re: Reconciling accounts

Hello there, Laura07.

 

Let me sort out why your savings and checking showed up under one account even when using a sub-account.

 

In QuickBooks Online, it'll still automatically show up under one account even though the sub-number for savings and checking is different. You'll need to consult with your bank to have this separated. Then, you'll have to connect it in QuickBooks Online to the two accounts in COA.

 

This will ensure the separation when reconciling your accounts.

 

Let me know if you need further clarification with online banking in QuickBooks. I'm just a post away if you need my assistance.