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Level 3

Can you reconcile older years after reconcile new years?

Hi,

I've reconciled 2016, 2017,2018 thus far.  Some how, 2015 was overlooked.  Or a bank update pulled them in after I began Reconciling.

 

Considering I have all bank statements for 2015, can I reconcile them now so they go away? :)

 

Thanx

Solved
Best answer 11-06-2018

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QuickBooks Team

Can you reconcile older years after reconcile new years?

Hello @oscortega,

 

Thanks for dropping by the Community. I'm here to assist with reconciling a year that was overlooked. 

 

As you've reconciled years of statements, you're aware that the beginning balance of a month is going to come from the ending balance of the previous month. Since the current ending balance is from a 2018 statement then it's not going to match the opening balance for 2015. This is one of the reasons for why it's suggested to reconcile sequentially. 

 

There are a few options for reconciling the 2015 statements. One option would be to make adjustments or journal entries to change the beginning and ending balances so that you're able to reconcile the year. As this option can impact your books and reporting, you may wish to reach out to your accountant for guidance. 

 

Another option would be to undo the reconciles that have been done, reconcile 2015, and then re-reconcile 2016, 2017 and 2018. This can be done by manually altering the transactions or reaching out to your accountant if they're a user on your account; accountant users can provide additional assistance with undoing a reconcile. The following article provides further guidance on this: How to Unreconcile a Transaction or Undo a Reconciliation

 

Just to clarify, you reference having them go away, is this in regards to these transactions appearing on the reconcile screen? If you prefer to not see them then you do have the option of filtering by date so that they won't appear. Here's how to filter on the Reconcile screen:

 

  1. Select the Funnel icon.
  2. Click the drop-down under Date and choose Custom.
  3. Specify the date range, such as a beginning date after 2015.
  4. Click Apply

 

I've included a brief video as a demonstration:

 

 

As previously mentioned, these methods can impact your books and you may wish to seek additional guidance from your accountant to ensure that the best method is used for your business. 

 

I'd be glad to provide additional help should you have any questions about this or anything else. Wishing you a pleasant day.  

View solution in original post

1 Comment
Highlighted
QuickBooks Team

Can you reconcile older years after reconcile new years?

Hello @oscortega,

 

Thanks for dropping by the Community. I'm here to assist with reconciling a year that was overlooked. 

 

As you've reconciled years of statements, you're aware that the beginning balance of a month is going to come from the ending balance of the previous month. Since the current ending balance is from a 2018 statement then it's not going to match the opening balance for 2015. This is one of the reasons for why it's suggested to reconcile sequentially. 

 

There are a few options for reconciling the 2015 statements. One option would be to make adjustments or journal entries to change the beginning and ending balances so that you're able to reconcile the year. As this option can impact your books and reporting, you may wish to reach out to your accountant for guidance. 

 

Another option would be to undo the reconciles that have been done, reconcile 2015, and then re-reconcile 2016, 2017 and 2018. This can be done by manually altering the transactions or reaching out to your accountant if they're a user on your account; accountant users can provide additional assistance with undoing a reconcile. The following article provides further guidance on this: How to Unreconcile a Transaction or Undo a Reconciliation

 

Just to clarify, you reference having them go away, is this in regards to these transactions appearing on the reconcile screen? If you prefer to not see them then you do have the option of filtering by date so that they won't appear. Here's how to filter on the Reconcile screen:

 

  1. Select the Funnel icon.
  2. Click the drop-down under Date and choose Custom.
  3. Specify the date range, such as a beginning date after 2015.
  4. Click Apply

 

I've included a brief video as a demonstration:

 

 

As previously mentioned, these methods can impact your books and you may wish to seek additional guidance from your accountant to ensure that the best method is used for your business. 

 

I'd be glad to provide additional help should you have any questions about this or anything else. Wishing you a pleasant day.  

View solution in original post

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