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AlexN9
Level 1

Bank Reconciliation

New to quickbooks. I have been reconciling all of 2023 for work and I have got to the end of the year and have several transfers from savings to checking transactions from April left over. Is there a way I can remove these transactions without it changing my beginning balance? I have tried to delete them from my chart of accounts but I then receive an error stating the account is not ready to reconcile because my beginning balance is now off. 

Is there a way to remove them without undoing all my reconciliations from April on? Any help is appreciated. Thank you

2 Comments 2
MJoy_D
Moderator

Bank Reconciliation

Welcome and thank you for choosing QuickBooks Online, @AlexN9.

 

I'm here to share some information about removing reconciled transactions.

 

Please take note that removing or deleting transactions from a reconciled period will affect your beginning and ending balances for your previous and future reconciliations. 

 

You can create reversal entries to offset those amounts. Then, you can clear those entries during your next reconciliation. 

 

Here's how:

 

  1. Click the + New button and choose Journal entry.
  2. Enter your debit and credit amounts. If you're unsure which accounts to use, consult your accountant for guidance.
  3. Choose Save and new or Save and close.

 

You can check this article for more information about fixing errors you encounter while reconciling by scrolling to the Fixing a reconciliation section of the following article: Learn the reconcile workflow in QuickBooks

 

Here's an article that guides you in handling discrepancies at the end of a reconciliation: Enter an adjusting entry for a reconciliation in QuickBooks Online

 

Let us know in the Reply section below if you need more information or help reconciling your accounts. The Community is always here to help you out. 

Rainflurry
Level 13

Bank Reconciliation

@AlexN9 

 

Create entries that reverse the transfers.  Create transfers from checking to savings for the same amount so they offset the April transactions and then clear them against each other the next time you reconcile.  

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