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peggy64
Level 1

manually reconciled bank account from paper statement

I had to manually reconciled a checking account from the paper statement that has closed, since the bank took down the account on us, so I can't upload the information.  I reconciled it,  QB's shows zero register balance,  but shows a bank balance as the last amount from the last upload.  How can I clear that?

 

4 Comments 4
Kendra H
QuickBooks Team

manually reconciled bank account from paper statement

Good Evening, @peggy64

 

I strive to give the best possible support. I can help with understanding why your "In Quickbooks" balance is different from your "Bank Balance".

 

These accounts wouldn't be the same amount unless nothing were Added, Matched, or Transferred in the For Review tab. When you select them into the right account, these transactions then reduce the "In Quickbooks" amount and sends them to the Reviewed sections and are then sent to the Bank Register.

 

Also, I noticed an exclamation mark (!) in the screenshot you sent beside the "In QuickBooks" balance, and that means your bank needs updated, or there's an error that needs fixing. If you could provide me with some information about what the error says when you click on that exclamation mark, I'll be able to give you some additional insight and help fix that for you. 

 

I'm going to attach a link below with some more information about QuickBooks balances as well: 

QuickBooks Bank Balance

 

I'll be waiting for your Reply here. Speak to you soon! 

 

 

peggy64
Level 1

manually reconciled bank account from paper statement

Good Morning,

Thank you very much for replying.   The error message states that QB's can't find this bank account at your bank.  Please reconnect to the bank.  

And that is the problem, we can't reconnect to the bank as that account has been closed.

 

Please let me know if you need any additional information to help me.  I appreciate any help.

Thank you again.

peggy64
Level 1

manually reconciled bank account from paper statement

And I forgot to mention, the bank paper statement does show a zero balance.  And when I reconciled the account, I put the ending balance as zero.  and I reconciled to the zero balance account.  But the QB Bank balance still shows. 

IamjuViel
QuickBooks Team

manually reconciled bank account from paper statement

I thank you for the complete details you've provided, @peggy64.

 

Let's perform the following troubleshooting steps to resolve the prompt you've received.

    1. Log in to your bank’s website outside QuickBooks.

    2. Review your posted transactions and check for any connectivity error notifications.

    3. Once completed, log in to your QuickBooks Online account.

    4. Let’s perform a manual update on your connected bank account.

          a. Go to the Banking menu.

          b. Choose the Banking tab.

          c. Select your bank account.

          d. Click Update.

          e. If prompted, enter your Multi-Factor Authentication (MFA) credentials.

          f. Click the Continue update button.

 

On the other hand, we can perform a single reconcile using the ending balance of your last reconciled bank statement to fix your bank balance. Make sure not to enter any interests or fees before saving the data. 

  1. Go to the Gear icon, then Reconcile.
  2. From the Reconcile screen, verify that the beginning balance is zero ($0).
  3. Enter the Ending balance of the last reconciled bank statement.
  4. Click OK
  5. Once you see the list of transactions and balances to be reconciled, look at the difference and see if the number is zero. 
  6. If it is, choose Reconcile Now.
  7. If the difference is not zero, pick Unmark All and place a check in Hide transaction tick box after the statement End date.
  8. Choose Mark All and use the reconciliation report from QuickBooks Online to remove the check from transactions that were not cleared as of the last reconcile.
  9. Click Reconcile Now.

You can check this article for more detailed instructions: Why doesn't my QuickBooks Online beginning balance match my statement?

 

To learn more about how to review your opening balance in QuickBooks, you can browse these articles:

Keep me posted if you have other questions about the reconciliation workflow in QuickBooks.

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