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tim-root
Level 2

How can I avoid errors in reconciliation with recurring transfers from checking to savings? April worked, May didn't. Same recurring $100 transfer both months. Help?

Transfer is from business checking to business savings. $100 on 1st of each month. Transfer shows as REF NO. TYPE "Expense" from PAYEE ACCOUNT Business Checking. Also shows as REF NO. TYPE "Transfer" from Business Checking. MEMO, DATE, AMOUNT all identical. "Manually Added from Bank Feeds" does not appear for Expense line item but does appear for Transfer line item. For an unexplained reason the expense line item in May disrupts reconciliation, whereas it April it didn't. Thoughts? How do I fix this? If I delete the expense, won't that throw off checking account balance?
6 Comments 6
Candice C
QuickBooks Team

How can I avoid errors in reconciliation with recurring transfers from checking to savings? April worked, May didn't. Same recurring $100 transfer both months. Help?

Hello, @tim-root

 

Congrats on making your first post in the Community. To properly assist you with this issue, can you provide me with screenshots of the transfers. I want to ensure that I give you the most accurate answer to resolve this problem. 

 

In the meantime, you can look into these links that may be able to help you out. 

I'm always here to help you get back to business. I'll be on standby. 

tim-root
Level 2

How can I avoid errors in reconciliation with recurring transfers from checking to savings? April worked, May didn't. Same recurring $100 transfer both months. Help?

Reconciliation Transactions - 3.jpgReconciliation Transactions - 2.jpgReconciliation Transactions.jpg

GraceC
QuickBooks Team

How can I avoid errors in reconciliation with recurring transfers from checking to savings? April worked, May didn't. Same recurring $100 transfer both months. Help?

Hello there, @tim-root.

 

The expense $100 was manually recorded which causes duplicates and incorrect balance in both banks. You'll want to delete the transaction is already matched in both bank and existed.

 

Here's how:

  1. Go to Banking.
  2.  Select the For Review tab.
  3. Check the boxes of the duplicate transactions.
  4. Click on Batch actions and click Exclude Selected.

All of these duplicates will be transferred to the Excluded tab. If you wish to delete them, go to that tab and check the boxes of the transactions. Then, select Batch actions and then Delete.

 

For additional insights, you may check out these articles:

Drop me a comment below if you have any other questions. I'll get back to you as soon as I can.

tim-root
Level 2

How can I avoid errors in reconciliation with recurring transfers from checking to savings? April worked, May didn't. Same recurring $100 transfer both months. Help?

"The expense $100 was manually recorded"

 

It had to be entered by the bank feed because I'm the only user and I haven't manually added ANY entries.  I know, I know, I know it looks like I'm a complete moron.  Like I added this one line item for no reason.  But I didn't.  But here's the thing . . . you can see the same thing happened in April but the QBO reconciliation process didn't have an issue with it.  Have you ever heard of anything like this?Reconciliation Transactions.jpg

Rose-A
Moderator

How can I avoid errors in reconciliation with recurring transfers from checking to savings? April worked, May didn't. Same recurring $100 transfer both months. Help?

Hi, tim-root.

 

Let me help you sort things out. What happened here, as you can see on the screenshot, it's an Expense, but the amount is under "Deposit" this means that from the other Bank account "Business Checking" you created an expense. The account detail from that expense is this Bank from the register you showed.

 

z.PNG

 

You created expenses from the other Bank. While you created a Bank Transfer from this Bank Register. Also, there are transactions in April that were not reconciled (reconciled transactions are with letter R).

x.PNG

 

To reconcile your account properly, I'd suggest consulting an accountant. Your accountant can provide more expert ways of dealing with this situation.

 

Additionally, these write-ups give some helpful pointers on the reconciliation process:

 

Please let me know if you have any other reconciliation questions, or if there's anything else I can do for you. I'll be standing by for your response. Have a great day.

tim-root
Level 2

How can I avoid errors in reconciliation with recurring transfers from checking to savings? April worked, May didn't. Same recurring $100 transfer both months. Help?

Greetings RoseMarjorie,

 

First, I want to thank you sincerely for your response.  I really do appreciate it.

 

Here's the thing . . . no human being, not me, nor any other created any of those transactions.  They all came from my bank through the automated feed.  I know, I know, I know, it feels like or it looks like I went in there and manually created these entries, but I absolutely 1000% did not.  I've tried to look at the audit trail but what I have is very limited.  Anyway, something happened with my feed at the start of 2019, because now that I look into it further I see one Expense transaction for each month that was not reconciled.  The pattern started 2/1/2019 and has continued.  I believe the months Jan - April reconciled because I didn't notice that QBO excluded those Expense line items.  I sincerely believe the Transfer transaction created them automatically, because I did not.  


Again, I appreciate your input.  What a mess.  And this is just the freaking savings with 2 transactions most months.  Checking and the rest will be horrific if this has perpetuated across all of my accounts.  

 

TR

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