Bank Reconciliation

Thanks

You're most welcome, @Frieaza.

Thank you as well for going through my colleague's suggestions. And we're glad to know that everything went well on your end.

You can always post in the Community if you need more assistance with printing or QuickBooks. We'd love to help you out. Enjoy the rest of the week!

Hey Mitch S,

I have some checks from November 2022 that didn't clear yet. 

What if let's say until May, some still does not clear, what do I do?

Thanks

Thanks for checking in with us, Frieaza.

You can skip November transactions in QuickBooks that are still un-cleared for the month. The key point here is to only reconcile the entries on your bank statement. Because the uncleared checks in QuickBooks have not yet been cleared in your bank, you can leave those transactions alone. If the month of May arrives and your outstanding checks are still not cleared, we can create a journal entry to remove the old uncleared items from your outstanding checks list. I'd recommend consulting your accountant during this process. This allows you to use the correct category or accounts to keep your financial data accurate. Here's how to get started whenever you're ready:

1. Go to the Company menu.
2. Select Make General Journal Entries.
3. Fill out the fields to create your journal entry. Make sure your debits equal your credits when you’re done.
4. Press Save & Close. 

If you wish to manage your journal entries in QBDT, you can refer to this article for the detailed steps: Create a journal entry in QuickBooks Desktop. Once you're done, I'd recommend pulling up the Journal report. This is to check that your entries are recorded accordingly. To do this, go to the Reports menu and select the Accountant & Taxes option.

1. Go to the List menu, then select Chart of Accounts.
2. Select and open the appropriate account from the list.
3. Find the check transaction and put a checkmark under the Check column.

Once done, you can now proceed with reconciling your July transactions. I'm also adding this article to learn how to fix discrepancies when reconciling: Fix issues when you're reconciling in QuickBooks Desktop.

I'm always here to listen if you have additional concerns with reconciling accounts. You're welcome to post again or leave a reply below. Have a great day and stay safe.

I have used QB desktop since 1995 and now I am having checks/deposits that have cleared previously in the past years that are now showing up (2016, 2018, 2019, 2020, etc). I am afraid to check them off or delete them in fear of it changing my bank balance. How should I handle this.

I am now using QB for personnal business and not our work business as we are retired and I really do not need to spend money each month for the online version. Is this why I am having problems?

I have an idea of how you'll be able to prevent this problem, cathywallis.

Sometimes, previous transactions may show up in your account even if they are cleared. This happens when someone changed or deleted the reconciled transactions or if cleared transactions were unchecked (uncleared) in the account register.

The process of fixing them may be complex. However, what I can suggest is to create a new company file in QuickBooks Desktop. Then, enter a beginning balance of when you've started your personal business. This ensures that old transactions won't show up on your end.

But if you really want to correct the previous company file that you have, I recommend reaching out to your accountant for the proper ways how to do the correction.

In addition, learn from this article how you'll be able to get a previous reconciliation report so you can view your past reconciliations. I've added this article for more information: Get Reports For Previous Reconciliation In QuickBooks Desktop.

Feel free to let me know if you need further assistance. I'll always be right here to help.

Greetings!

Mistakenly i have ended statement on 28.04.2023 rather than 30.04.2023. 2 days transactions i forgot to reconcile what to do now please guide.

Good morning Ameer Hamza,

Nice to see you here in the Community! We recommend consulting with your accountant for the best course of action for something of this nature. If you don't have an accountant, feel free to use our ProAdvisor service. Many offer a free consultation, so don't hesitate to use that. Simply enter your zip code and browse through the list of experts by using the link below. 

• ProAdvisor Services

Please let me know if I can assist you with anything else. My team and I will be delighted too. Bye for now

Hi Ameer Hamza, 

Assalamu Alaikum.

Just un reconcile the statement. and then edit the date and correction the transaction. Then reconcile again, it will be solved. 

Take rest and just relaxed.

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Dhaka, Bangladesh