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How to do account receivable after bank reconciliation is done

After I did bank reconciliation, I found out that I forgot to do accounts receivable. After I did accounts receivable I saw that balance in the bank reconciliation had been changed exactly for the invoices amount. I didnt change any numbers, what I did wrong?   

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Best answer 03-08-2019

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QuickBooks Team

Re: How to do account receivable after bank reconciliation is done

Thank you for adding a reply, @queenkate777.

 

I'd be glad to help handle the your accounts receivable after bank reconciliation is done.

 

First, you may need to record the accounts receivable or the payment and do a mini reconciliation or special reconciliation afterwards. This should help you complete the task easily. There are two methods available to complete the mini reconciliation process.

 

The first method uses an off-cycle reconciliation and require that you know the ending balance from the most recent reconciliation. The second one uses a date other than the most recent reconciliation and does not require that you know the ending balance from the previous reconciliation.

 

To learn more and for the detailed process, you may check this article: Reconcile previously deleted and re-entered checking or credit card transactions.

 

If you need further assistance with the process, you can always get in touch with our QuickBooks Desktop Support Team.

 

Please feel free to add a post/comment below if you have any other banking and reconciliation concerns. I'm always here to help you!

View solution in original post

4 Comments
QuickBooks Team

Re: How to do account receivable after bank reconciliation is done

Hello there, @queenkate777

 

I'll share some steps on how you can identify discrepancies after reconciling your account

 

Since you've added invoices after bank reconciliation is done, this maybe the reason that you have reconciliation discrepancies. 

 

To help identify them, you can run several reports in QuickBooks. First, let's generate the Reconciliation Discrepancy report. It shows transactions sorted by statement date that were changed since the last reconciliation. Here's how: 

 

  1. Go to the Reports menu at the top.  
  2. Select Banking, then choose Reconciliation Discrepancy.
  3. Choose the appropriate account, then select OK.
  4. Review the report to identify any discrepancies.

Second, let's run the Missing Checks report since it helps you verify missing transactions. Here's how: 

 

  1. Go to the Reports menu at the top.  
  2. Select Banking, then choose Missing Checks.
  3. Choose the appropriate account, then select OK.
  4. Review the report for transactions that don't match your bank statement.

Third, let's run the Transaction Detail report since it helps you verify transactions that were changed or modified. Here's how: 

 

  1. Go to the Reports menu at the top.  
  2. Select Banking, then choose Transaction Detail
  3. Under the Display tab, choose the Date ranges
  4. Under the Filters tab, choose the the account and the date ranges. 
  5. Select OK to run the report.

 

Fourth, you can also run the Audit Trail report to check the transactions as these were added, changed, or deleted. You can go to Reports menu, then select Accountant and Taxes. Then, choose Audit Trail.

 

Once a discrepancy is identified, you'll need to make the necessary corrections. I'd suggest consulting your accountant if you need assistance on how to make these corrections. 

 

For more details, you can check out this helpful article: Fix Reconciliation Discrepancies


This will get you going, @queenkate777. Please come back to the Community if there's anything else I can do for you. I'm always glad to help. Take care always!

Level 1

Re: How to do account receivable after bank reconciliation is done

RaymondJayO  I appreciate your answer, but I now my mistake. My question is how to do account receivable AFTER the bank reconciliation is done already. I have saved back up where I can do it in the right way, but I dont know how. 

QuickBooks Team

Re: How to do account receivable after bank reconciliation is done

Thank you for adding a reply, @queenkate777.

 

I'd be glad to help handle the your accounts receivable after bank reconciliation is done.

 

First, you may need to record the accounts receivable or the payment and do a mini reconciliation or special reconciliation afterwards. This should help you complete the task easily. There are two methods available to complete the mini reconciliation process.

 

The first method uses an off-cycle reconciliation and require that you know the ending balance from the most recent reconciliation. The second one uses a date other than the most recent reconciliation and does not require that you know the ending balance from the previous reconciliation.

 

To learn more and for the detailed process, you may check this article: Reconcile previously deleted and re-entered checking or credit card transactions.

 

If you need further assistance with the process, you can always get in touch with our QuickBooks Desktop Support Team.

 

Please feel free to add a post/comment below if you have any other banking and reconciliation concerns. I'm always here to help you!

View solution in original post

Level 1

Re: How to do account receivable after bank reconciliation is done

Dear Angelyn_T!

I appreciate your answer! I did this mini reconciliation and it worked! So I am happy to go ahead and thank you very much for your help!

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