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Level 1

Bank Reconciliation

I have 11 months of reconciled statements.  We need to change a number of deposits in each period.  Each Deposit must be replaced by a new Deposit and New Expense resulting in the same value as the original Deposit.   I tried doing this manually (adding the 2 new transactions and checking them off on the register as having been reconciled and deleting the original Deposit).  But the resulting Beginning Balance  on the next reconciliation is incorrect even though the checking balance is correct.

I have 11 months of reconciled statements.  We need to change a number of deposits in each period.  Each Deposit must be replaced by a new Deposit and New Expense resulting in the same value as the original Deposit.   I tried doing this manually (adding the 2 new transactions and checking them off on the register as having been reconciled and deleting the original Deposit).  But the resulting Beginning Balance  on the next reconciliation is incorrect even though the checking balance is correct.  [email address removed]

6 Comments
Community Champion

Bank Reconciliation

Have you tried just  editing each deposit to add the 2 new items and delete the old? As long as the net deposit total does not change it stays reconciled

Level 7

Bank Reconciliation

What John said.  If it involves changing a payment received, you can open the deposit, delete the payment(s) involved, add a new/temporary fake line in the same amount (use any account, e.g., Miscellaneous Income), save.  Then edit the payment(s) received and save, go back to the deposit, delete the fake line, click on Payments and add back the edited payment(s).

Level 1

Bank Reconciliation

My situation involves substituting a deposit of let us say $100 with a new one of $120 and an expense of $20--netting the same but having 2 transactions instead of one.  It is not clear that your explanation resolves this.  When I try to do this manually, my Starting Balance at Reconciliation time is incorrect.

Level 1

Bank Reconciliation

Yes that is what I tried, and altho my checking balance is correct, the Starting Balance in the new Reconciliation page is incorrect.

Anonymous
Not applicable

Bank Reconciliation

Hi there, Robbie,

 

Thanks for getting back to us. Allow me to chime into this conversation.

 

Your beginning balance is the sum of your cleared transactions from the previous reconciliation. Thus, deleting a reconciled transaction changes your beginning balance for the next reconciliation period.

 

However, as long as you enter the correct ending balance then check off the replacement transaction when you reconcile, then the ending reconciled balance should be correct considering all other transactions on your bank statement match. For more information on how to fix an incorrect beginning balance, please check out this article: Zero or Incorrect Beginning Balance in the Begin Reconciliation Window

 

Please feel free to loop me in if you need further assistance with QuickBooks. Have a great day!

Level 15

Bank Reconciliation

You do not Checkmark like this: "and checking them off on the register"

 

You can fix and update the deposit screens, as noted, and as long as bottom right = the same Net, this entry will not even unreconcile.

 

And if you ever need to do Housekeeping like this that results in deleted and recreated or replaced transactions, as long as you know the amounts are correct, you know the account will re-reconcile. So, you Re-reconcile Once. Just ignore the beginning balance. Use the most recent ending balance and in the reconciliation tool is where you Checkmark the older, changed or recreated transactions that you affected. You should still get to a difference of 0 and this is what is called Interim Reconciliation or Mini-rec.

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