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S
SVOhio
December 3, 2020
Question

How do I reconcile uncleared transactions from previous years?

  • December 3, 2020
  • 2 replies
  • 47 views

How do I reconcile uncleared transactions from previous years?

 

My account is current and balanced. I think most of these uncleared transactions are from a previous bank account. The previous bank account - let's call it BankA, has a list of a few uncleared transactions from almost 6-7 years ago. That is when the church started in with a new bank, let's call it BankB. Interestingly, the transfer of funds from BankA to BankB is not correct either. The last balance from BankA was $10,101.00 (+/-) and the opening balance of BankB $15,000.00.

 

My goal is to clean up the outstanding uncleared transactions so when I reconcile, I don't have these transactions permanently uncleared for all eternity. How do I resolve a situation like this appropriately. My plan is to go back and try to find the old 2014 records and see if I can reconcile them, but that is probably not likely.

 

Any suggestions would be welcome! If you need more details just let me know.

    2 replies

    IamjuViel
    IamjuViel
    Level 8
    December 3, 2020

    Hello there, @SVOhio.

     

    You can reconcile your past transactions one year at a time. This way, all adjustments, service fees, and interest you enter during the reconciliation process will apply to the year in which those transactions occurred. I can guide you on how to do it.

    1. Go to the Banking menu and select Reconcile.
    2. Select the Account drop-down then choose the account you want to reconcile.
    3. In the Statement Date field, choose the date from the financial statement you selected.
    4. In the Ending Balance field, enter the ending balance from your statement.
    5. Compare the amount shown in the Beginning Balance field with the opening balance on the oldest statement you need to reconcile.
    6. Enter the total Service Charge and Interest Earned.
    7. Follow the screen transaction to complete the process.

    You can read through this article for more detailed steps: Reconcile an account for multiple months or years of transactions and financial statements.

     

    Also, I'd recommend consulting with your accountant so you'd be advised the best method for you to reconcile statements and transactions for multiple years.

     

    Keep me posted if you have other questions about reconciling your account. I'm always here to help.

    IamjuViel
    IamjuViel
    Level 8
    December 6, 2020

    Greetings, @SVOhio.

     

    I just want to make you're able to reconcile your previous transactions. Have you tried the steps I've shared? Were you able to reconcile your outstanding uncleared transactions?

     

    Keep us posted here if you have other questions or concerns. I'm always here to lend a hand.

     

    S
    SVOhioAuthor
    December 9, 2020

    I cannot try your suggestion until this weekend and I had to hunt down the old records to see if I could find the old statements to see if it will help. I will keep you posted.

    rupinderkaur
    rupinderkaur
    July 19, 2021

    Hi @SVOhio 
    Hope you are doinf well...!

    Delete Transactions

    • Launch QuickBooks.
    • Click "Lists" in the main menu bar and then select "Chart of Accounts" from the pull-down menu.
    • Click to open the account that contains the transactions you want to delete.
    • Scroll to the transaction in the account screen. QuickBooks displays transactions in date order, with the most recent at the top of the screen.
    • Click to select the transaction you want to remove.
    • Click "Edit" in the main menu and then click "Delete."
    • Click "OK" to confirm that you want to delete the transaction.
    • Repeat this procedure for each transaction you want to delete.

    Void Transactions

    • Click "Lists" in the main menu bar and then select "Chart of Accounts."
    • Click to open the account with the transactions you want to void.
    • Select the transaction. Click "Edit" in the main menu and then click "Void."
    • Click "Save and Close" to save the voided transaction.
    • Repeat this procedure for each transaction you want to void.

    Clear Old Transactions With the Condense Data Tool

    • Click "File" in the main menu bar.
    • Select "Utilities" followed by "Condense Data."
    • Click to enable the "Transactions before a specific date" radio button in the Condense Data window.
    • Enter your preferred date in the "Remove transactions before" field.
    • Click the "Next" button and then click "Begin Condense" to complete the procedure.

    For further assistance, Call Sagenext Customer support: +1-855-922-7243

    Regards
    Rupinder Kaur
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