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faf07
Level 2

Fixing uncleared transaction from 4 years ago

Trying to reconcile my account and it's saying I have an uncleared(that was previously cleared) transaction from 4 years ago. I have tried manually clearing it in the register but it is not changing anything. Do I have to unreconcile back 4 years?

Solved
Best answer January 05, 2021

Best Answers
ReymondO
QuickBooks Team

Fixing uncleared transaction from 4 years ago

Hi there, @faf07.

 

Let me help you fix your reconciled accounts so you can close your books. I've got an idea of why you're getting this issue and how to fix it. 

 

There may be times when transactions you already reconciled show up as unreconciled. Here are a few reasons why:

 

  • Someone changed or deleted the reconciled transactions.
  • Cleared transactions were unchecked (uncleared) in the account register.
  • Someone undid the last reconciliation.
  • Funds were transferred from a previously reconciled bank account to a sub-account.

 

However, we can perform a mini reconciliation in QuickBooks Desktop (QBDT) to create changes in your reconciled accounts. This special method uses an "off-cycle" reconciliation date to make a correction. This also assumes you know the ending balance from the most recent reconciliation. Get this information before you start.

 

To fix transactions in a bank account, follow these steps:

 

  1. Go to the Banking menu and select Reconcile.
  2. Choose the bank account with the transactions you need to reconcile.
  3. In the Date of Statement field, enter the date for an "off-cycle reconciliation." Please take note that when you enter an "off-cycle" date, QuickBooks will remind you that you're doing a mini reconciliation. This puts previously unreconciled transactions back without affecting the "cycle" that they follow.
  4. In the Ending Balance field, enter the balance of your last successful reconciliation and select Continue.
  5. From the Reconcile window, check off the transactions you are fixing and re-reconciling.
  6. Make sure the Difference field shows $0.00.
  7. When everything looks good, select Reconcile Now.

 

If you're a credit card account, follow these steps to clear your transactions: How to fix transactions in a credit card account.

 

You can also check our Year-end checklist in QBDT. This will guide you through the process of completing your task in QuickBooks so you can close your previous year and prepare for the upcoming one. 

 

I'm just a reply away if you have other questions with the QuickBooks Desktop. Just add the details of your concerns in this thread and I'll help you out. Keep safe!

View solution in original post

9 Comments
ReymondO
QuickBooks Team

Fixing uncleared transaction from 4 years ago

Hi there, @faf07.

 

Let me help you fix your reconciled accounts so you can close your books. I've got an idea of why you're getting this issue and how to fix it. 

 

There may be times when transactions you already reconciled show up as unreconciled. Here are a few reasons why:

 

  • Someone changed or deleted the reconciled transactions.
  • Cleared transactions were unchecked (uncleared) in the account register.
  • Someone undid the last reconciliation.
  • Funds were transferred from a previously reconciled bank account to a sub-account.

 

However, we can perform a mini reconciliation in QuickBooks Desktop (QBDT) to create changes in your reconciled accounts. This special method uses an "off-cycle" reconciliation date to make a correction. This also assumes you know the ending balance from the most recent reconciliation. Get this information before you start.

 

To fix transactions in a bank account, follow these steps:

 

  1. Go to the Banking menu and select Reconcile.
  2. Choose the bank account with the transactions you need to reconcile.
  3. In the Date of Statement field, enter the date for an "off-cycle reconciliation." Please take note that when you enter an "off-cycle" date, QuickBooks will remind you that you're doing a mini reconciliation. This puts previously unreconciled transactions back without affecting the "cycle" that they follow.
  4. In the Ending Balance field, enter the balance of your last successful reconciliation and select Continue.
  5. From the Reconcile window, check off the transactions you are fixing and re-reconciling.
  6. Make sure the Difference field shows $0.00.
  7. When everything looks good, select Reconcile Now.

 

If you're a credit card account, follow these steps to clear your transactions: How to fix transactions in a credit card account.

 

You can also check our Year-end checklist in QBDT. This will guide you through the process of completing your task in QuickBooks so you can close your previous year and prepare for the upcoming one. 

 

I'm just a reply away if you have other questions with the QuickBooks Desktop. Just add the details of your concerns in this thread and I'll help you out. Keep safe!

View solution in original post

faf07
Level 2

Fixing uncleared transaction from 4 years ago

Thank so much! I didn't get any messages about off cycle but I continued and it worked. Phew. =)

Nick_M
QuickBooks Team

Fixing uncleared transaction from 4 years ago

Hi there, faf07.

 

Thank you for posting here in the Community. I'm so glad that my colleague was able to assist you! If you have any other questions, feel free to post here anytime.

 

Thank you and have a lovely day.

Bermuda1
Level 2

Fixing uncleared transaction from 4 years ago

Hi There,

 

Would this work with QBO?

 

Thanks.

Jen_D
Moderator

Fixing uncleared transaction from 4 years ago

Thanks for posting here again, @Bermuda1,

 

The steps shared by my colleague is exclusively for QuickBooks Desktop users. We do not have this option in QuickBooks Online.

 

To make sure you can clear the entries showing on the reconciliation report, you will need to review them manually. Normally this happens if previously reconciled transactions are modified and the system will tag them as unreconciled, causing them to show up again for reconciliation.

 

To check the transaction status and make sure it is tagged as reconciled, follow the manual reconciliation steps below:

 

  1. Click the Gear icon.
  2. Tap Chart of Accounts.
  3. Find the account you want to review.
  4. From the Action column, click View register.
  5. Locate the entry from the list and make sure the status column (indicated by a check mark) show a code R (Reconciled).
  6. If it doesn't, click the field to change the reconcile status. A Blank status means the entry is not cleared or reconciled.
  7. Once done press Save. To give you an idea on how it looks like in QBO, see this screenshot:

 

For additional information about the best practices when reconciling, see this article: Reconcile Hub

 

You can also request for an accountant use to undo a reconciliation to fix any balance discrepancy. See this link for the steps: Undo a client’s reconciliation in QuickBooks Online Accountant

 

Update me on what happens after reviewing the entries. I want to make sure this is resolved and I'll be right here if you need further help. Have a lovely day!

Bermuda1
Level 2

Fixing uncleared transaction from 4 years ago

Hello Jen,

 

I started the step to change the code to "R" and the following message popped up:

 

"To keep your books in balance, you should use Reconcile (under the Gear icon) to automatically mark transactions with an R. Are you sure you want to save this change you made manually?"

 

Would this affect books (i.e. prior months or even prior YEs if the entries related past periods)? 

 

Thanks.

jamespaul
QuickBooks Team

Fixing uncleared transaction from 4 years ago

Hello, Bermuda1. 

 

Yes, it will affect your books. I'll elaborate more on the details and help you correct your reconciled accounts. 

 

Basically, changing any reconciled transaction will affect your balances (prior or the next periods). 

 

You can proceed to manually unreconcile the transaction. However, I do recommend consulting an accountant before making this change. They'll ensure your books are accurate and your reconciliation balances are correct. 

 

Also, we do have a guide to help you correct your reconciled account. You can follow the steps from this article if you need help with the corrections: Fix issues for accounts you've reconciled in the past in QuickBooks Online.

 

Do you also need help categorizing your bank transactions after dealing with the reconciliation? Check out this guide to help you out: Categorize and match online bank transactions in QuickBooks Online.

 

I have more guides and pointers to show you if you need more help with the reconciliation process. I'm also open to other questions about QuickBooks Online. Just reply here and I'll get back to you. 

4Chefs
New Member

Fixing uncleared transaction from 4 years ago

This did not work and now I have a mess and don't know how I fix it.  Each check I checked as cleared just kept ADDING to the difference.  It will never get to "0" this way.

Rubielyn_J
QuickBooks Team

Fixing uncleared transaction from 4 years ago

I'm here to help fix ending balance discrepancies in QuickBooks Online, @4Chefs.

 

Here are some of the reasons why you’d encounter ending balance discrepancies:

 

  • An incorrect ending balance at the start of the reconciliation.
  • Missing or duplicate transactions in QuickBooks.
  • Someone entered transactions into QuickBooks that haven't cleared your bank yet.
  • Duplicate transactions.

 

To fix this, let's review the opening and beginning balances. Then, check your ending balance. Make sure you entered the correct amount:

 

Here's how:

 

  1. In the Reconciliation window, click Edit info.
  2. Examine the Ending balance and Ending date.
  3. Check your bank statement and make changes as needed.
  4. Lastly, click Save.

 

If the issue persists, you can proceed to Steps 3 to 7 in this article: Fix issues at the end of reconciliation in QuickBooks Online. 

 

I also suggest running a Reconciliation Report to review the beginning and ending balances and all cleared/uncleared transactions. 

 

Once everything is fixed, you can continue reconciling your accounts so that they always match your bank and credit card statements.

 

You stay connected with me if you have more questions about banking concerns in QuickBooks Online. I'll be around to help you. Keep safe and have a blessed day.

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