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How to force reconcile old transactions prior to opening balance?

I've recently decided to use Quickbooks Online mid-year and began by linking a few bank accounts and credit cards and establishing their balances as of the dates I linked them to QBO. The feed was able to pull the past 90 days of transactions. I manually imported from CSV files the remaining transaction data from the beginning of the year, making sure that duplicates were not uploaded. I didn't experience any difficulties until I began to "add" (note, not match) these transactions by classifying them as income/expense etc. After adding these transactions, the balance per QBO for one of my credit cards for instance, is greater than the true bank balance. I have tried to use the reconciliation tool to force reconcile these historical transactions to no avail. I have also tried to manually switch the status of transactions to "R" within the account's register without any success either. Is there a way to force the QBO balance to reconcile to the bank after adding the historical bank/credit card transactions? Thank you!

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Best answer 07-16-2019

Accepted Solutions
QuickBooks Team

Re: How to force reconcile old transactions prior to opening balance?

I'd like to make sure that your reconciliations are in agreement, Aramis.

 

You can go to the Reconciliation page by following the steps below. Before doing so, I'd suggest consulting your accountant to ensure that your reports are accurate. 

 

Note: When you force a reconciliation, QuickBooks will create a transaction adjustment for the difference.

  1. Click the Gear icon located in the upper right-hand corner.
  2. Under Tools, click Reconcile.
  3. Select the account from the Account drop-down list.
  4. Enter the Ending Balance and Ending Date.
  5. Click Start reconciling.
  6. click the arrow next to Save for later, and choose Finish now.
  7. You will get a pop-up window to click the Add the adjustment and finish or Go back buttons.

I'm also adding this article on how to find the previous reconciliation adjustments in the future.

 

This link will also help you fix the differences between QuickBooks balance and the bank balance.

 

For any additional questions related to reconciliation, I'm just a post away. Have a great day!

3 Comments
QuickBooks Team

Re: How to force reconcile old transactions prior to opening balance?

I'd like to make sure that your reconciliations are in agreement, Aramis.

 

You can go to the Reconciliation page by following the steps below. Before doing so, I'd suggest consulting your accountant to ensure that your reports are accurate. 

 

Note: When you force a reconciliation, QuickBooks will create a transaction adjustment for the difference.

  1. Click the Gear icon located in the upper right-hand corner.
  2. Under Tools, click Reconcile.
  3. Select the account from the Account drop-down list.
  4. Enter the Ending Balance and Ending Date.
  5. Click Start reconciling.
  6. click the arrow next to Save for later, and choose Finish now.
  7. You will get a pop-up window to click the Add the adjustment and finish or Go back buttons.

I'm also adding this article on how to find the previous reconciliation adjustments in the future.

 

This link will also help you fix the differences between QuickBooks balance and the bank balance.

 

For any additional questions related to reconciliation, I'm just a post away. Have a great day!

Not applicable

Prior year transactions listed in credit card reconciliation that have not been cleared but recon balance matches statement balance

Need help with a credit card reconciliation in Quickbooks online.  A client has a number of "old" transactions that were posted as expenses or payments but were never cleared in the reconciliation function.  These continue to show as uncleared on the reconciliation but the current register balance is correct.  How do we remove or clear these old transactions without affecting the register balance?

QuickBooks Team

Re: Prior year transactions listed in credit card reconciliation that have not been cleared but r...

Thanks for joining the thread, @AAM-1981.

 

You can go to the Bank Register and manually clear each old transaction from there. I'd be happy to assist you with this.

 

Manually clearing each transaction from the Bank Register won't affect the register balance. To do that, please follow these easy steps below:

 

  1. Click the Gear icon, then select Chart of Accounts.
  2. Find the appropriate bank, then click View register.
  3. Select the old transaction to edit.
  4. Under Check column, click the box repeatedly to change the status to "C". ("C" - Cleared, "R" - Reconciled, and "Blank" - Not cleared or reconciled)
  5. Click Save.

Once done, please repeat step 3-5 to clear those old transactions successfully.

 

Here's an article you can read on for more details: How to Unreconcile a Transaction or Undo a Reconciliation.

 

For your future reference, you might also want to check out these articles to learn how to adjust a reconciliation: 

 

Don't hesitate to leave a comment below if you have any other questions. I'll be around if you need any help.

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