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Dansigwa
Level 2

Bank Reconciliation

Thanks for your support, I have an interesting scenario that I'd like your advice on how to handle. First of all, I think it's important for you to know that I'm in the process of trying to clean or rather rectify an already Reconciled Checking Account because the person who did it didn't delete Duplicates and Erroneous Deposits and Payments. 
 
I have come across Deposits that are in the Bank Register which are coming in as payments through the Accounts Receivable. They haven't been Reconciled and don't appear in the Banking Feed, Bank Statement, or Reconciliation Report. I wanted to delete them directly from the Bank Register but then QBO tells me they are linked to other Accounts. How do I handle this situation? Normally I expected them to at least appear as Uncleared Deposits in the Reconciliation Report. I have attached a Screen File below just to help elaborate on what I mean.
 
 
Solved
Best answer August 28, 2020

Best Answers
Rea_M
QuickBooks Team

Bank Reconciliation

I'm here to ensure you're able to rectify your reconciled checking account in QuickBooks Online (QBO), @Dansigwa. This way, you can keep your books accurate and monitor your transactions accordingly.

 

When you reconcile your checking account in QBO, you're able to ensure that it's matched with your real-life bank transactions. You're already on the right track in clearing some erroneous deposits and payments through the bank register. It's a good thing that the deposits you want to delete aren't reconciled yet. Then, they don't appear in the banking feeds since they're already transferred in the reviewed transactions tab.

 

The proper way in handling deposits that are linked to other accounts is to unlink it first from the Banking menu's Reviewed tab. Let me guide you how.

  1. Go to the Banking menu.
  2. Select the blue tile for your checking account.
  3. Go to the Reviewed or Categorized tab.
  4. Locate the deposit, then click Undo under the Action column. Repeat the process as needed.

 

I've attached a screenshot below for your reference.

 

After unlinking, go back to the bank register. You can select the Gear icon, then select Chart of Accounts. From there, locate the checking account and select View register to view the complete list of transactions.

 

You'll have the option to permanently exclude the duplicate and erroneous transactions in your bank account. This way, you can keep your account updated. For the step-by-step guide, you can refer to this article's Exclude personal or duplicate transactions section: Handling bank transactions in QBO. It also contains information about the categorization and matching process through the Banking menu. 

 

Additionally, I'd recommend reconciling your accounts every month. This is to detect erroneous transactions and effectively monitor your business income and expenses. You can learn more about this process by checking out this article: Reconcile an account in QuickBooks Online.

 

Please let me know if you have other concerns. I'm just around to help. Take care always.

View solution in original post

1 Comment
Rea_M
QuickBooks Team

Bank Reconciliation

I'm here to ensure you're able to rectify your reconciled checking account in QuickBooks Online (QBO), @Dansigwa. This way, you can keep your books accurate and monitor your transactions accordingly.

 

When you reconcile your checking account in QBO, you're able to ensure that it's matched with your real-life bank transactions. You're already on the right track in clearing some erroneous deposits and payments through the bank register. It's a good thing that the deposits you want to delete aren't reconciled yet. Then, they don't appear in the banking feeds since they're already transferred in the reviewed transactions tab.

 

The proper way in handling deposits that are linked to other accounts is to unlink it first from the Banking menu's Reviewed tab. Let me guide you how.

  1. Go to the Banking menu.
  2. Select the blue tile for your checking account.
  3. Go to the Reviewed or Categorized tab.
  4. Locate the deposit, then click Undo under the Action column. Repeat the process as needed.

 

I've attached a screenshot below for your reference.

 

After unlinking, go back to the bank register. You can select the Gear icon, then select Chart of Accounts. From there, locate the checking account and select View register to view the complete list of transactions.

 

You'll have the option to permanently exclude the duplicate and erroneous transactions in your bank account. This way, you can keep your account updated. For the step-by-step guide, you can refer to this article's Exclude personal or duplicate transactions section: Handling bank transactions in QBO. It also contains information about the categorization and matching process through the Banking menu. 

 

Additionally, I'd recommend reconciling your accounts every month. This is to detect erroneous transactions and effectively monitor your business income and expenses. You can learn more about this process by checking out this article: Reconcile an account in QuickBooks Online.

 

Please let me know if you have other concerns. I'm just around to help. Take care always.

View solution in original post

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