Outstanding Balance message when reconciling credit card

ChiColorLabel · ‎January 14, 2022

We recently migrated from Sage 50 to QuickBooks (on January 1st, 2022). Since the conversion does not carry over any past Sage 50 reconciliations, we are entering a single reconciliation for each account from the "beginning of time" through December 31st, 2021 when all accounts were last reconciled properly in Sage.

When reconciling our credit card account and finalizing the reconciliation, we receive the following message:

The outstanding balance on this account is $(amount). To pay all or a portion of this amount, select the payment type and click 'OK', To leave the balance in the reconciled account, click Cancel.

We are given a choice to either write a check for the payment or create a bill.

As you can see in the attached screenshot, the reconciliation balanced the transactions properly leaving a difference of zero as is expected for a successful reconciliation.

Can someone clarify why this message is appearing and what we should or should not do?

JenoP · ‎January 14, 2022

I have details to share about the prompt that you're getting when reconciling a credit account, ChiColorLabel.

The message usually shows up if the payment for the credit card bill is not yet recorded. This is the reason why it's asking if you want to create a check for the payment of the credit card dues or create a bill to be paid later.

You can also select Cancel if you want to proceed with the reconciliation without selecting nay of the choices. However, that will leave the balance of the credit card bill as outstanding in your Balance Sheet report.

You can read through these articles for more details:

Additional references and checklist are also provided here in case you need them:

Don't hesitate to always visit us again in the Community if you need more help from us.

View solution in original post

JenoP · ‎January 14, 2022

I have details to share about the prompt that you're getting when reconciling a credit account, ChiColorLabel.

The message usually shows up if the payment for the credit card bill is not yet recorded. This is the reason why it's asking if you want to create a check for the payment of the credit card dues or create a bill to be paid later.

You can also select Cancel if you want to proceed with the reconciliation without selecting nay of the choices. However, that will leave the balance of the credit card bill as outstanding in your Balance Sheet report.

You can read through these articles for more details:

Additional references and checklist are also provided here in case you need them:

Don't hesitate to always visit us again in the Community if you need more help from us.

ChiColorLabel · ‎January 15, 2022

Thanks JenoP... Perfectly explained!

Topics

Training

Community

Resources

Outstanding Balance message when reconciling credit card