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jbooze1
Level 3

Correct Account Reconciliation

Hello, when I go to do my monthly reconciliation there are 2 transactions that are showing that are not checked from past months (see example). I went to try to correct these and then the account would not reconcile. On the first transaction I found that there were duplicate transactions for a transfer from the savings account. I deleted the duplicate transactions (both expense in savings & income in checking) and then the reconciliation was off. Can someone help me correct this? I manually recreated the transaction so I could reconcile the the checking account. Is it advisable to try to correct these between reconciliations, or should I wait until these present themselves next month?  Thanks you.

 

QBReconProb121520.PNG

8 Comments
Ryan_M
QuickBooks Team

Correct Account Reconciliation

Hi @jbooze1,

 

I'll help you with your queries regarding an online bank reconciliation in QuickBooks Online (QBO).

 

I suggest you check the Ending balance you entered for your current reconciliation, as well as the Ending date. This can be the cause as to why the reconciliation is off even after deleting duplicate transactions. 

 

You can check this article for further details: Fix issues at the end of a reconciliation in QuickBooks Online

 

Dive into more details of the reconciliation process with this article: Learn the reconcile workflow in QuickBooks. It's a complete guide for the process, along with a walk-through of different situations during a reconciliation. 

 

Let me know if need further assistance with reconciliations in QBO. I'll get back to you as soon as I can.  

jbooze1
Level 3

Correct Account Reconciliation

Hi Ryan_M,

 

I appreciate the response. After, I follow the steps of dealing with duplicate transactions is there a way to test the reconciliation or redo it? Both of these transactions are transfers, so they effect both my checking and savings accounts. I am trying to understand how I can keep the balances as they are, which are correct, whilst deleting these transactions.

 

Thank you,

jbooze1

Tori B
QuickBooks Team

Correct Account Reconciliation

Thanks for following up with us, @jbooze1.

 

It sounds like you may have a few underlying issues with the account. Since you've stated that the balance is currently correct before deleting the duplicate transactions, you may have something entered incorrectly.

 

I recommend consulting with your accountant before taking further action. Your accountant can review your account and let you know what steps would be best for you and your business. If you don't have an accountant, don't sweat. You can find one here in our Resource Center

 

Feel free to let me know if you have further questions or concerns. You can always reach out to the Community or me anytime you need a helping hand. Take care!

jbooze1
Level 3

Correct Account Reconciliation

Hi Tori, It seems like Quickbooks know these transactions are duplicate that's why they are shown but not checked (see above example). I have noticed that after the reconciliation that the balances for both the checking account and savings account are off by about the amount of these duplicate transactions. Do you think it's reasonable that if I went ahead and removed the duplicate transactions now that it would make things right for next reconciliation? 

Kiala_S
QuickBooks Team

Correct Account Reconciliation

Good morning, @jbooze1! Hope your week is going well so far. :)

 

Like Tori, I definitely recommend reaching out to your accountant to see if deleting those transactions is necessary. Some investigation may need to be done to find out why there are duplicates. When it comes to reconciliation, it can be hard to direct people without being in their account and knowing their account well. That being said, if you feel confident, you can always do what you feel is best. The great thing is that you can always re-enter any transaction that is deleted (always be mindful of the dates when re-entering).

 

Here's an article that would be helpful if you choose to delete those transactions and see how it affects your reconciliation: Use the audit log to re-enter deleted transactions.

 

As always, please feel free to reach out if you have any more questions. All of us are happy to help!

jbooze1
Level 3

Correct Account Reconciliation

Hi Kiala_S,

 

Is it possible to ask questions about Quickbooks online without being referred to a third-party on the Quickbooks Community. I am a Pro-Advisor and need assistance from time to time. In the past have gotten help from the community. For instance: after I correct my transactions would it be advisable to undo last month's reconciliation and redo it to get back on track? Is that a Community acceptable question, or not?

 

Thank you for your response. 

jbooze1
Level 3

Correct Account Reconciliation

Hi Kiala_S,

 

Is it possible to ask questions about Quickbooks online without being referred to a third-party on the Quickbooks Community. I am a Pro-Advisor and need assistance from time to time. In the past have gotten help from the community. For instance: after I correct my transactions would it be advisable to undo last month’s reconciliation and redo it to get back on track? Is that a Community acceptable question, or not?

 

Thank you for your response.

Ryan_M
QuickBooks Team

Correct Account Reconciliation

Hi @jbooze1,

 

Thank you for your prompt reply. I'll handle this query for you.

 

Here in the Community, we handle queries for Intuit products. Going back to your query, a quicker way to handle corrections on a previously reconciled period is to mark it as reconciled by hand. 

 

Let me show you how:

 

  1. Highlight the Accounting tab.
  2. Select Chart of Accounts.
  3. Locate the bank account in question, then click the View register link.
  4. Search for the correction transaction.
  5. Under the column with a Checkmark, keep clicking the box until it shows R.

You can repeat the same steps for all other corrections you created for previous reconciliation periods. View the screenshot below for more details: 

 

 

Refer to this article as well: Fix issues for accounts you've reconciled in the past in QuickBooks Online. It's a list of troubleshooting steps for issues such as deleted transactions or reconciled transactions in error. 

 

Feel free to tag me in the comments below if you have other questions about your QBO company. 

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