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LarryBrown
Level 2

Bill Pay stopped payment of a check in a bank account that was already reconciled, my reconciliation is out of balance

 
Solved
Best answer November 02, 2020

Best Answers
Pabz_L
QuickBooks Team

Bill Pay stopped payment of a check in a bank account that was already reconciled, my reconciliation is out of balance

Let me share some insights on how voiding or deleting a transaction impacts your reconciled account, @LarryBrown.

 

 Deleting previously reconciled transactions can throw off your beginning balance. On the other hand, if you opt to void the transaction, it will only change the amount of the original transaction to zero (0.00). However, it will still show a record of the transaction in QuickBooks.

 

I recommend contacting your accountant to help you undo the reconciliation. That way, your beginning balance will be corrected.

 

Here’s an article that will give you additional insights about reconciliation: Reconcile Hub.

 

Keep me updated on how this goes or if you have any questions. I’m always here to help. Take care!

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7 Comments 7
JonpriL
Moderator

Bill Pay stopped payment of a check in a bank account that was already reconciled, my reconciliation is out of balance

Hello @LarryBrown

 

You have the option to voice the check to fix the balance of reconciliation since the payment hasn't yet been posted in your bank statement. But I'd still recommend contacting your accountant for additional assistance with your bank account reconciliation.

 

That being said, let me show you how you can void the check:

  1. Go to Accounting.
  2. Select the bank account where you wanted to start the reconciliation.
  3. Under ACTION, select View register.
  4. Find and open the check with unprocessed payment.
  5. Choose More.
  6. Select Void.
  7. Click Yes.

Additionally, you might also find this article helpful for the steps in reviewing a report after your reconciliation: How do I view, print, or export a reconciliation report?

 

If you have any other questions, please let me know in the comments below. I'll be here to help. Stay safe!

LarryBrown
Level 2

Bill Pay stopped payment of a check in a bank account that was already reconciled, my reconciliation is out of balance

I voided the check; however, the bank account was reconciled before the "void".  Now my reconciliation is off.

Pabz_L
QuickBooks Team

Bill Pay stopped payment of a check in a bank account that was already reconciled, my reconciliation is out of balance

Let me share some insights on how voiding or deleting a transaction impacts your reconciled account, @LarryBrown.

 

 Deleting previously reconciled transactions can throw off your beginning balance. On the other hand, if you opt to void the transaction, it will only change the amount of the original transaction to zero (0.00). However, it will still show a record of the transaction in QuickBooks.

 

I recommend contacting your accountant to help you undo the reconciliation. That way, your beginning balance will be corrected.

 

Here’s an article that will give you additional insights about reconciliation: Reconcile Hub.

 

Keep me updated on how this goes or if you have any questions. I’m always here to help. Take care!

kimcal1
Level 1

Bill Pay stopped payment of a check in a bank account that was already reconciled, my reconciliation is out of balance

I'm having a similar issue.  We pay vendors through QBO BillPay.  If the vendor does not cash the check within 90 days, the bill payment is voided.  This is a problem because the money came out of our bank account 90 days prior, and has been reconciled.  But, when the bill payment is voided, the transaction from 90 days ago is zeroed out and throws off the bank reconciliation beginning balance.  How can we keep the record of the initial payment when it first went out?

Rea_M
QuickBooks Team

Bill Pay stopped payment of a check in a bank account that was already reconciled, my reconciliation is out of balance

Hello there, @kimcal1.

 

I can see the importance of keeping your accounts reconciled and updated with all your expense transactions in QuickBooks Online (QBO). That's why I'm here to guide you on the steps you need to take care of the issue.

 

You can keep a record of the initial payment by manually recording it in QuickBooks. Then, marked it as reconciled on your account's register. Please see attached file below for your reference.

 

After that, you'll have to correct your opening balance the next time you reconcile your account. For the step-by-step guide, I'd recommend checking out this article: Fix beginning balance issues in QuickBooks Online. It includes topics about starting new and editing completed reconciliations.

 

Additionally, you need to regularly review your accounts to make sure the amounts match your real-life bank statements. Here's an article that'll further guide you in doing or fixing a reconciliation in QuickBooks: Reconcile workflow.

 

Let me know if you have other reconciliation concerns and inquiries about managing transactions in QuickBooks. I'm just around to help. Take care always.

jasonashaw
Level 2

Bill Pay stopped payment of a check in a bank account that was already reconciled, my reconciliation is out of balance

The way Quick Books handles voided Bill Payments is terrible.

 

This is what happens:

I send a Bill Payment and QB Bill pay takes the money out of our bank account.

We reconcile the bank account at the end of the month and the transaction is reconciled.

A couple months later, the vendor hasn't cashed it and QB/Bill Pay voids the transaction.

QB automatically returns the money to our account and it VOIDS the original RECONCILED transaction.

Now our Reconciled balance is OFF.

This is a bad way to handle it.

QB should automatically create a deposit transaction that reverses the original transaction.

IT SHOULD NOT VOID IT BECAUSE IT CREATES A LOT OF WORK TO FIGURE OUT AND FIX.

 

QB you just wasted an hour of my time trying to figure this out.

Please be more professional. Your method of handling this now is NOT GAAP.

 

Thanks.

 

denisemkelly3
Level 1

Bill Pay stopped payment of a check in a bank account that was already reconciled, my reconciliation is out of balance

What did you do to fix it 

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