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Level 3

2020 is first year with QBO. Loaded Bal. Sht. and PL for 2019. Want to do Jan Bank Rec. But O/S checks & deposits from 2019 not entered. How do we do bank rec Jan?

I would assume that there will be a reconciling difference for O/S deposits & checks. How should this be handled when reconciling?
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Best answer April 22, 2020

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QuickBooks Team

2020 is first year with QBO. Loaded Bal. Sht. and PL for 2019. Want to do Jan Bank Rec. But O/S checks & deposits from 2019 not entered. How do we do bank rec Jan?

Hello there, sflaa1. 

 

There are few ways on how we can get a difference of zero in reconciling your account. One way is to connect your bank and add the checks and deposits needed for the reconciliation. We can also manually enter a lump sum deposit and checks. After that, we can reconcile the account. 

 

Here's how to connect: 

  1. Go to the Banking menu.
  2. At the upper-right, click Connect account
  3. Enter you bank's URL or name and select the correct one. 
  4. Follow the onscreen instructions until, we've successfully connected the account. 

For creating checks and deposits just click the +New button at the left menu and select either Check or Bank deposit

 

If you need more help with reconciling an account, you can leave a reply. Take care always!

View solution in original post

2 Comments 2
Highlighted
QuickBooks Team

2020 is first year with QBO. Loaded Bal. Sht. and PL for 2019. Want to do Jan Bank Rec. But O/S checks & deposits from 2019 not entered. How do we do bank rec Jan?

Hello there, sflaa1. 

 

There are few ways on how we can get a difference of zero in reconciling your account. One way is to connect your bank and add the checks and deposits needed for the reconciliation. We can also manually enter a lump sum deposit and checks. After that, we can reconcile the account. 

 

Here's how to connect: 

  1. Go to the Banking menu.
  2. At the upper-right, click Connect account
  3. Enter you bank's URL or name and select the correct one. 
  4. Follow the onscreen instructions until, we've successfully connected the account. 

For creating checks and deposits just click the +New button at the left menu and select either Check or Bank deposit

 

If you need more help with reconciling an account, you can leave a reply. Take care always!

View solution in original post

Highlighted
Level 3

2020 is first year with QBO. Loaded Bal. Sht. and PL for 2019. Want to do Jan Bank Rec. But O/S checks & deposits from 2019 not entered. How do we do bank rec Jan?

Hi Catherine_B,

 

Thank you for the guidance.  I will be using this along with any details that I can gather from 2019 to try and "re-create" the outstanding items in detail then make a JE to put them on the books as of Dec 31.  I already applied what you said for the easier accounts that don't have much activity.  I appreciate your quick response.  Take care and stay safe!

 

Steve

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