My credit card balance (1234) is $2,996.32, but in Quickbooks it is -$2,573.00
My checking balance (5678) is $4,123.42, but in Quickbooks it is -$7,658.12
When I try to Reconcile, I am told there is a discrepancy because there are 5 transactions (one each month from Jan through May) totaling $3,417.52 (reflecting the monthly charges on my credit card which were paid by my checking) that were deleted after being reconciled. But when I go to the Reviewed under my Credit Card, those amounts are there as “Added to: CC-Credit: Checking (5678).” And when I go to Reviewed under my Checking, those amounts are there as “Matched: CC-Credit (1234).” And when I go to Chart of Accounts for both Credit Card and Checking, those transactions are listed under the ”Payment” column and have green boxes and a ”C” under the check-mark column. I understand I need to restore the deleted transactions, but I am not sure if I should do this in the credit card or checking account. Also, I’m not sure if this will even fix the discrepancy in the imbalance. Help!
Reconciliation is an important part of running a small business. Ensuring that your transactions have all been accounted for in your books means that you stay organized and confident in your bookkeeping. If you've deleted transactions after reconciling them, your balance will be appearing in the negative when you go to try and reconcile again, as you've explained above. I'll help you recreate the transactions properly using the information found on your reconciliation report and the audit log.
The steps to recreate your transactions are straightforward, but you'll have to retrieve the proper information first. In order to do that, follow the steps below.
1. Click the Accounting tab on the left navigation menu, then select Reconcile.
2. If your balance is incorrect, you'll see a prompt there that says "Your account isn't ready to reconcile yet." Click We can help you fix it.
3. This will open the Reconciliation Discrepancy Report. Next to each transaction you'll be restoring, click View on the far right-hand side of the page.
4. This will produce the transaction's audit log.
5. Using the information found on the audit log, recreate your transaction exactly as you see there. Match whichever bank account was originally used when you restore the transaction.
Once you've recreated all of your deleted transactions, you'll have to manually mark the transaction as Reconciled.
1. Click the Accounting tab on the left navigation menu.
2. Select Chart of Accounts.
3. Click Account History next to the account you're reconciling.
4. Change the status of your restored transactions to R, instead of C.
That's all there is to it. I hope this helps clear things up for you. If you're still unsure which account to select when restoring your transactions, please consult with your accountant or get in touch with our tech support team.
Have a wonderful weekend.
Thank you for the detailed response!
The problem is that when I click “view” it just takes me back to my main Banking dashboard and not to a detail screen like you showed.
How can I fix that?
Or do you have other ideas?
That's definitely odd. Have you tried clearing your cache and cookies? Stored Internet files may be causing bugs in the system. Give it a try by following these steps and let me know how it goes: How do I clear my browser cache and temporary Internet files?
I followed those directions and cleared everything. Restarted laptop and logged back into Quickbooks. When I click “View” a new tab opens and I am still redirected back to the Dashboard.
I see. In this case, I'd encourage you to reach out to our tech support team. Our agents have the ability to remotely share your screen to see this happening in real time. I'm confident they'll be able to get you back on track with some real-time assistance and collaboration.