I am trying to help someone whose bookkeeper did not reconcile for a couple of years.
They are synced to the back so transactions are downloaded. I "match" what I can and add expenses or transfers or deposits that are on the bank statement so I can "match".
However, some transfers (from an account not linked to QBO) and Payroll Electronic Withdrawals that are made weekly, are showing up in the register as Reconciled before reconciling the account for that month.
For example, in July 2019, my register shows the correct 4 weekly transactions, and correctly shows 5 for August. Before reconciling or matching, however, randomly 2 or three from July show up already reconciled. If I try to change from R to blank, my beginning balance is off. This has randomly happened to a transfer (from an account at the same bank but not linked in QBO)
I've tried every variation of the various fixes. But I still end up with inflated GL accounts with these double entries.
If I enter them again, I have double entries in my register but the reconciliation works.
I'm here to help you with reconciling the account, Sch926.
QuickBooks Online is unable to reconcile future transactions automatically. You'll want to check the Audit log report to see if someone reconciled them.
When it comes to reconciliation, you compare transactions in QuickBooks on your bank statement. The bank statement is always the source of truth. From there, you'll know the transactions that you have to reconcile, and there should be no difference in the ending balance.
I have gone through all the reconciliation steps, unreconciled (one by one) and re-reconciled.
I'm attaching some screenshots/reports
My beginning balance when I went to begin September Reconciliation matched my ending balance in August of 6995.99
I had a number of transactions that were NOT coming up on the reconciliation (the ones highlighted) .
I reviewed and categorized/matched the ones that were already in QB
I created all the payroll payments for the rest of the year (weekly electronic) and matched those
I added information and accepted the other transactions that were in the download but not in QBO
When I do this, before finishing the reconciliation- the transactions are marked Reconciled in the register.
When I try to change from Reconciled to Cleared or even blank, Quickbooks starts adjusting my beginning balance. You can see here I have added all the items in the register. they are correct in the GL on both the bank account and income/expense accounts.
However, with those transitions entered correctly, my beginning balance has changed from $6995.99 to 28557.85. The transactions that were showing up in the Register as Reconciled (even though I had not finished) are those transactions. It now wants me to go create them again in order to bring the balance back to where it should
I appreciate the complete steps you've performed, @Sch926.
Making sure you're able to accurately reconcile your bank account is our priority. That being said, I'd recommend consulting with an accountant so you'd be guided in reviewing your list of recorded bank transactions. He or she can securely assist in making sure that the actual amount of money spent matches the amount shown leaving an account at the end of a fiscal period.