Matching recociled transactions

Bermuda1 · ‎August 18, 2020

Hi there,

I recently started a new bookkeeping position.

I am unable to match items (from Jan) in the banking feed. The previous bookkeeper reconciled these items already but they were not matched. Do I need to unreconcile these items, then match them and reconcile them again? Would this cause any issues?

How can I correct this so that the transactions are no longer appearing in the feed, and are recorded correctly?

Thanks in advance.

JenoP · ‎August 18, 2020

Reconciled transactions will no longer show up when matching transactions, Bermuda1.

There are two options on how you can handle these reconciled and downloaded banking transactions. First option is to unreconcile them so they'll show up when looking for a match. Also, make sure to reconcile them again so it will not affect or cause issues in your account balances.

If you're using QBOA, follow the steps in this article on how to do that: Undo your client’s reconciliations with QuickBooks Online Accountant.

If you're on a regular or logged in to the client's account, follow these steps on how to unreconcile:

Open the bank register and look for the transaction.
Review the check column. If the transaction is reconciled, you’ll see an “R.”
Select the box and keep clicking it until the box is blank. This removes the transaction from the reconciliation.
Click Save and proceed to the rest of the transactions.

Once done, proceed to the Banking section and match the transactions. Use this article as a guide: Add and match downloaded bank transactions.

Second and best option is to exclude the downloaded transaction so they would no longer show up in the For Review tab. Here's how:

Select the check boxes of the transactions to exclude.
From the Batch actions drop-down, choose Exclude Selected.

Let me know if you have other questions.

View solution in original post

JenoP · ‎August 18, 2020

Reconciled transactions will no longer show up when matching transactions, Bermuda1.

There are two options on how you can handle these reconciled and downloaded banking transactions. First option is to unreconcile them so they'll show up when looking for a match. Also, make sure to reconcile them again so it will not affect or cause issues in your account balances.

If you're using QBOA, follow the steps in this article on how to do that: Undo your client’s reconciliations with QuickBooks Online Accountant.

If you're on a regular or logged in to the client's account, follow these steps on how to unreconcile:

Open the bank register and look for the transaction.
Review the check column. If the transaction is reconciled, you’ll see an “R.”
Select the box and keep clicking it until the box is blank. This removes the transaction from the reconciliation.
Click Save and proceed to the rest of the transactions.

Once done, proceed to the Banking section and match the transactions. Use this article as a guide: Add and match downloaded bank transactions.

Second and best option is to exclude the downloaded transaction so they would no longer show up in the For Review tab. Here's how:

Select the check boxes of the transactions to exclude.
From the Batch actions drop-down, choose Exclude Selected.

Let me know if you have other questions.

Bermuda1 · ‎August 18, 2020

Hello JenoP,

Thanks for your detailed instructions.

Because I'm fairly new to Quickbooks, can you advise - if I unreconcile these selected items, would it cause issues with my subsequent bank reconciliations (which are already reconciled)?

I understand that I will have to reconcile the items again, but I just need to clarify that it will not mess up my already reconciled subsequent months.

Thanks!

MariaSoledadG · ‎August 18, 2020

Let me provide you with a few information about this, Bermuda1.

When you say reconcile, this means you compare two sets of documents to make sure they are in agreement. One of these is usually a financial account statement and the other is your company's accounting spreadsheet.

If there are errors that you encountered or if you want to correct something with reconciliation, the quickiest and easiest way to do is unreconcile to correct them. This wouldn't mess up your books since you're only in the process of correcting your transactions. However, I suggest reaching out to your accountant before doing any changes.

You'll want to add and match bank transactions after you're done with your reconciliation. Please check this article for your reference: Categorise And Match Online Bank Transactions In QuickBooks Online.

If you need anything else, let us know so we can get back to you.

Bermuda1 · ‎August 18, 2020

Thank you for the information.

I am an accountant and I've used a few other accounting software. I understand the reconciliation process.

I wanted to understand how it's done on QBO since I'm new to it.

Thanks!

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