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Level 1

Is an adjustment necessary in the first reconciliation, when using online banking?

I just started using QBO, and I connected all my bank accounts. I chose not to import any transactions prior to the date I imported the balances alone. But, one of my cards did that and now I have all of 2019 transactions lingering as uncleared when reconciling. I know these are all valid already.

Would the easiest way to move these transactions out from "uncleared" be to click "Finish Now" during the reconciliation, and just allow QBO to add an adjustment equal to all the lingering transactions? 

Thank you for any replies :)

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Moderator

Is an adjustment necessary in the first reconciliation, when using online banking?

Yes. It's best the way to move the uncleared transacions, mvocalebiz93.

 

First of, thanks for trying QuickBooks Online. In QuickBooks, it's recommended to reconcile the transactions that are listed on your actual bank account. Once everything's fine, you're good to proceed in reconciling the account.

 

When we reconcile, those uncleared transactions will be marked as cleared. In the reconciliation page, click the batch action icon to select all the transactions. Then, click the Finish now button.

 

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I've also added this article for more information about the reconciliation process: How to Reconcile an Account.

 

Please let me know if you have other concerns. I'll help you out!

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