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jackie3
Level 1

How can I correct a prior reconciliation without redoing it?

I had a reconciliation that required hours of work and finally did an adjusting entry for $1,671 in ticket sales deposits. When I began working on the next month's reconciliation I found the actual deposits that were not cleared that almost match the adjusting entry. I want to manually clear those deposits in the check register and then change the adjusting entry to account for those deposits as they are entered in my sales receipts and I don't want to delete them as the information is important. I spent many hours on that reconciliation plus another 4 hours today on the current one. This seems to be the best way to proceed without having to do hours of work over again. I would appreciate any thoughts or suggestions. Jackie
Solved
Best answer December 10, 2018

Best Answers
John68-CPA
Level 3

How can I correct a prior reconciliation without redoing it?

In general.  it not a good idea to mark or edit reconcilating items in the QB register.
Those are best done in the bank reconcilation program.

suggustion:   Do a backup before doing any more work.

You have a decison to make how important is it to correct the prior period.
1.
a quick and dirty way.   
Enter an adjustment to get the prior bank balance to equal your new correct balance.   Then make an offseting adjustment in the current month.
then   reconcilite to the correct month bank statement.    Next clear the corrected deposit(s) , and make a new adjustment which clears all the corrections and edits.

2.  the other way.   Right down the ending balance.  then carefully enter the correct deposits from the prior period, and edit the prior adjusting entry. to get the ending balance equal.    As to clearing the deposits, do it in the current months bank reconcilation..   It usally not a issue, if one bank account has open items,

Also QB really only reconciles to the ending balance.   When the balance is zero. that is all that is needed.   The begining balance is simply the sum ofall preious cleared items.   the beginning balance is not really factored in the reconcilation.   As long as your current month bank statement and clear amount per bank reconcilation equal. that is all that counts.

With quickbooks,  it is possible to enter transactions dated in prior months, and as long as that transaction did not actually clear the bank.  There will be no issues with the bank reconciliation.     Or in other QB only reconciles to the bank statement balance.  QB does not really track the open items, like we normally are used to.

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12 Comments 12
John68-CPA
Level 3

How can I correct a prior reconciliation without redoing it?

In general.  it not a good idea to mark or edit reconcilating items in the QB register.
Those are best done in the bank reconcilation program.

suggustion:   Do a backup before doing any more work.

You have a decison to make how important is it to correct the prior period.
1.
a quick and dirty way.   
Enter an adjustment to get the prior bank balance to equal your new correct balance.   Then make an offseting adjustment in the current month.
then   reconcilite to the correct month bank statement.    Next clear the corrected deposit(s) , and make a new adjustment which clears all the corrections and edits.

2.  the other way.   Right down the ending balance.  then carefully enter the correct deposits from the prior period, and edit the prior adjusting entry. to get the ending balance equal.    As to clearing the deposits, do it in the current months bank reconcilation..   It usally not a issue, if one bank account has open items,

Also QB really only reconciles to the ending balance.   When the balance is zero. that is all that is needed.   The begining balance is simply the sum ofall preious cleared items.   the beginning balance is not really factored in the reconcilation.   As long as your current month bank statement and clear amount per bank reconcilation equal. that is all that counts.

With quickbooks,  it is possible to enter transactions dated in prior months, and as long as that transaction did not actually clear the bank.  There will be no issues with the bank reconciliation.     Or in other QB only reconciles to the bank statement balance.  QB does not really track the open items, like we normally are used to.

View solution in original post

jackie3
Level 1

How can I correct a prior reconciliation without redoing it?

Thanks for both suggestions. I will work with the 2nd one to clear the prior deposits and do adjusting entry. Jackie
Smcc1055
Level 1

How can I correct a prior reconciliation without redoing it?

Hi how do I fix a previous reconciliation discrepancy where the type of change was an account change? I attached the report so you can see what I am referring to. I realized I did not apply funds to the correct account so I changed the account even though I was given a warning message. Now the beginning balance is off by the amount on the report. How do I fix this but keep the changes? 

 

Thank you,

Zoevina 

 

CharleneMae_F
QuickBooks Team

How can I correct a prior reconciliation without redoing it?

Thanks for providing a screenshot, @Smcc1055.

 

To correct the discrepancy, you may need to undo the previous reconciliation. Then re-enter or edit the transactions. I'd recommend consulting an accountant for additional guidance with this.

 

Here's how to undo the reconciliation:

  1. Back up the QuickBooks company file.
  2. In the Begin Reconciliation window, select Undo Last Reconciliation.
  3. When prompted, select Continue then OK.
  4. Close and reopen the Begin Reconciliation window.

 

To know more about reconciliation in QuickBooks Desktop, check out these articles:

 

Additionally, I've included an article that will guide you in ensuring all your transactions are organized in the correct account to avoid issues: Understand Chart of Accounts in QuickBooks.

 

Stay connected with me if you have more questions about reconciliation in QuickBooks Desktop. I'll be around to help, Smcc1055.

chunt23
Level 1

How can I correct a prior reconciliation without redoing it?

Hey there,

I have been on the form trying to get an answer to a question I have, just not sure if it is the exact thing to do. I have a few transactions that are uncleared on my reconciliation report and I'm not sure what to do because my amount zeros out and everything else matches up with the bank statements. I did find where the transactions came from and they were in the bank statements from that month, but never got reconciled. Not sure what to do exactly to get those out of the bank reconciliation report and do not want to do the wrong thing. 

 

I could provide a screenshot if that would help as well. 

Nick_M
QuickBooks Team

How can I correct a prior reconciliation without redoing it?

Hi there, chunt23. 

 

Thanks for taking the time to post in the Community, I'm happy to help. If your account zeroed out and you still have uncleared transactions, then it sounds like the transactions are cleared but just appearing as uncleared. Follow along below for the steps to fix this:

  1. From the Banking menu, click Reconcile.
  2. In the Begin Reconciliation window, select the appropriate account then click Undo Last Reconciliation.
  3. A message to backup the company file before undoing a previous reconciliation is displayed. If you have already created a backup, click Continue.
  4. Click Ok when the message Undo Previous Reconciliation has completed displays. Note that the last reconciled on date has reverted to the previous date.
  5. Reconcile the transactions again.

For additional options and a further breakdown on the process, I would suggest checking out the following article: Resolve common issues on previously reconciliation reports. I would also suggest reaching out to an accountant, that way you can be sure everything is correct and as it should be. If you have any other questions, don't hesitate to post down below. Thank you for your time and have a lovely evening. 

chunt23
Level 1

How can I correct a prior reconciliation without redoing it?

there are a few transactions from March and one from April that are not cleared. I ave already done reconciles and am up to date. Everything is equalling to zero and the bank account matches the reconcile as well. I did find these transactions in those months bank statements, I am just not sure how they did not get reconciled and why it does add to zero. 

I did read something about looking into your bank register which I have done. They are the only transactions that do not have the green box or the reconcile by them. Not sure what to do next. 

Thanks 

MorganB
Content Leader

How can I correct a prior reconciliation without redoing it?

Hey there, chunt23.

 

Thanks for following up with those additional details about the transactions that aren't showing as cleared.

 

It's possible there are duplicate postings due to a manual entry, resulting in these transactions appearing different from the others. In this instance, I recommend reaching out to the QuickBooks Desktop Support Team to be sure. Agents have the necessary tools, like screen-sharing, to take a closer look at your account to determine what's causing this issue with the transactions not clearing.

 

Here's how to contact the team:

 

1. Press the F1 key on your keyboard.

2. Select Contact Us.

3. Enter Support in the field and click Continue.

4. From here you can choose to message an agent, or set up a callback for a time that's convenient for you.

 

The following article provides these steps if you ever need them again in the future: Contact the QuickBooks Desktop Customer Support Team

 

In the meantime, you may want to take a look at these articles that offer some helpful pointers on reconciling in the Desktop program:

I'm only a comment or post away if you have any other questions. Take care!

 

Rs_accounts1234
Level 1

How can I correct a prior reconciliation without redoing it?

Hi,

I have some problem in my QuickBooks reconciliation. All of the transactions from the bank statement are already done, but still my balance is not zero. I have rechecked several times but still the same difference is appearing. We have switched the persons maintaining accounts in our company and I have noticed a journal entry for reconciliation discrepancy in our last month. How to fix this issue?

ShiellaGraceA
QuickBooks Team

How can I correct a prior reconciliation without redoing it?

Thanks for joining us here today, @Rs_accounts1234.

 

I have some information about fixing reconciliation discrepancies. It's great that you've reviewed the discrepancy report, so we can take it from there. If the journal entry isn't part of that reconciliation period, you can either delete or change the journal entry's date.

 

To delete or edit:

  1. Double-clicked the amount on the discrepancy report.
  2. In the Journal Entry the transaction, click Delete at the top, or change the Date of the entry (see the attached screenshot below).
  3. Hit Save & Close.

 

 

Check out this guide to learn more about: Fix issues when you're reconciling in QuickBooks Desktop.

 

Additionally, here's a link that covers all the tasks you can do when using QBDT. Feel free to browse for topics that suit your concern.

 

Drop a comment anytime if you still have questions or concerns with your account. I'm always here to help. Take care and have a great day ahead.

WJR86
Level 1

How can I correct a prior reconciliation without redoing it?

Bank reconciliations have been correct every year and when I opened to complete August, 2021 there was a discrepancy of $434 from April, 2020.   The discrepancy stated this was a cancelled check but it the check had cleared.   This is the second time this has happened and it really is not productive to go back more than a year.  Is there another way to fix or is there something wrong with Quickbooks Pro?

 

Maybelle_S
QuickBooks Team

How can I correct a prior reconciliation without redoing it?

I can help you with fixing the discrepancy in your reconciliation, @WJR86.

 

To help us identify the discrepancies, we can run the Reconciliation Discrepancy Report. This report shows transactions sorted by statement date that were changed since the last reconciliation. Before doing this, back up your company file first. 

 

Here's how:

 

1. Go to the Reports menu.

2. Hover on Banking, then select Reconciliation Discrepancy.

3. Choose the bank account, then click OK.
report.PNG

 

If there are transactions that cause the discrepancy between your balances, edit them with the correct details (or recreate deleted ones). Before doing this, back up your company file first.

 

Once done, undo the previous reconciliation: 

 

1. Go to the Banking menu.

2. Select Reconcile

3. Choose the bank account, then click Undo Last Reconciliation.
undo.PNG

 

Finally, correct the previous period by reconciling it again.

 

To learn more about the different ways of fixing Reconciliation discrepancies, you can check out this article: Fix Reconciliation Discrepancies.

 

Moreover, here's an article you can read more about reconciling previously deleted and re-entered checking or credit card transactions: Reconcile credit card transactions.

 

I'm still here if you have additional questions and you're more than welcome to leave a reply for anything you need.

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