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Level 1

After undoing reconciliations, why are interest deposits throwing the account out of balance when cleared?

 
4 Comments
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QuickBooks Team

After undoing reconciliations, why are interest deposits throwing the account out of balance when cleared?

Hi there, melissa43,

 

Thanks for contacting us about the account out of balance after undoing reconciliations.

 

Interest deposits may have manually entered already before they cleared from your bank. That's why it's causing an incorrect balance on your account.

 

You'll need to review and compare transactions downloaded in QuickBooks with the actual bank statement before reconciling your account. This is to ensure they match and prevent from running issues during the reconciliation process.

 

After that, you can start reconciling your bank again. The following information below outlined the steps to guide you with the process.

 

Step 1: Review your opening balance

Step 2: Prepare for the reconciliation

Step 3: Start your reconciliation

Step 4: Compare your bank statement and QuickBooks

Step 5: Review the reconciliation

 

You can also refer to this article for instructions, detailed steps, and screenshots: Reconcile an account in QuickBooks Desktop.

 

When your accounts don't match your bank statements at the end of the reconciliation, please refer to the Fix issues when you're reconciling link. It will tell you what's causing the ending balance issues and provides solutions.

 

Don't hesitate to leave a comment below if you have follow-up questions. I always have your back.

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Level 1

After undoing reconciliations, why are interest deposits throwing the account out of balance when cleared?

Thanks for your response.  The deposits are not manually recorded; they are entered at the time of reconciliation.

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Level 1

After undoing reconciliations, why are interest deposits throwing the account out of balance when cleared?

Thank you for your response.  The deposits are not entered manually, only at the time of reconciliation.

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Moderator

After undoing reconciliations, why are interest deposits throwing the account out of balance when cleared?

Hello again, @melissa43. Thanks for getting back to us. 

 

When undoing a reconciliation, interest deposit will not be deleted. So when reconciling back, make sure not to add interest again. This is to make sure that your going to reconcile bank accounts correctly.

 

For additional reference, I'm attaching some articles that you may find helpful:

If there's anything else you need help with, let me know by commenting below. I'm always here to help. Have a great day!

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