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Level 3

bank transfers and bank reconciliation challenge

I started this challenge with a problem on several bank transfers.  I recorded both sides of the transaction instead of matching them.  I have attempted to rectify the problem, but am at a standstill.  My bank reconciliation is off $2214.00.  Apparently, I changed 4 transactions after they were reconciled.  I trusted that QBO would alert me when I was trying to void a transaction that was reconciled.  Three of these four transactions have a counterpart sitting on the bank transactions for review.  Can I simply ignore these and exclude them?  And How can I get my bank reconciliation to be whole again?  Thanks in advance for your help.  

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QuickBooks Team

bank transfers and bank reconciliation challenge

I'm here to share some insights about reconciling transactions in QuickBooks Online, @TammyM12.

 

When deleting or editing a reconciled transaction, this will affect changes in the opening balance for the current reconciliation. 

 

There's an exclusive feature for accountants that allows undoing reconciliations without manually editing individual transactions within the Bank register. 

 


As for the regular user, you can recreate those transactions and manually mark them as reconciled. 

 

Here's how:

  1. Click the Gear icon in the upper-right hand corner.
  2. Choose Chart of Accounts.
  3. Choose and locate the appropriate account.
  4. Under the Action column, click View Register.
  5. Identify the transaction to edit.
  6. In the Check mark column (reconcile status column), change the code to (reconciled).
  7. Click Save.

 

 

To understand further information on reconciliation in QuickBooks Online, here are some helpful articles you can check:

 

If you have any follow up questions about banking or reconciliation. I'm still here to help you more. Have a good one.

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