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maags1950-gmail-
Level 1

How to reconcile a current asset wrongly categorised. I have 3 accounts with small.balances all should be zero ,do I just delete all.accounts.

Hi I have 3 actives with small.balances  all.accounts should be zero   how do I achieve this  do I delete all.3 accounts or undo all transactions posted to these accounts ,I tried reconciling did not allow,suggestions welcome.
1 Comment 1
Archie_B
QuickBooks Team

How to reconcile a current asset wrongly categorised. I have 3 accounts with small.balances all should be zero ,do I just delete all.accounts.

Hello there, maags1950

 

I can guide you on how to correct accounts with incorrectly classified transactions in QuickBooks Online.

 

If you have three accounts with small balances that should be zero, deleting the accounts may not be the best solution. Instead, let's go through the steps to reconcile these accounts properly. The first thing we need to do is to review the transactions posted to these accounts. This will help us identify any transactions that may have been mistakenly categorized or posted incorrectly. Make note of these transactions.

 

Then, undo the transactions to correct any mistakenly categorized transactions, you'll need to undo them. Go to the account register for each account and locate the transactions that need to be adjusted. Select and delete these transactions or edit them to correct the account categorization.

 

Once the transactions are corrected, you can proceed with reconciling the accounts. To reconcile an account, you can use this link as a reference: Reconcile an account in QuickBooks Online.

 

You can also contact your accountant if they use the QuickBooks Online Accountant version. They have a tool that allows them to make the same change to multiple transactions at the same time. Here's an article for more information: Reclassify or move multiple transactions at once in QuickBooks Online Accountant.

Let me know how it goes or If you have more questions with QuickBooks Online, please feel free to reach out to us at any time. Keep safe!