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Hello KimberlyS,
Just wanted to let you know that I had previously matched the transactions to the correct A/R account but didn't think that it was ok for me to manual indicate that the transaction was reconciled. I thought I had to go through Chart of accounts > Bank Register > Reconcile option. I kept getting warnings pretty much against manual reconciliation. But I guess because it had been previously reconciled this would be the only option to get back to being reconciled.
The only concern I have now is that when I go into the "Reconciliation Discrepancy Report", it now reflects the transactions that were previously "deleted" plus "reconciled in the register".
Is that correct?
By the way, the discrepancy difference is still not at zero but at least it's going in the right direction - so thank you for your guidance. I am still working on fixing all of the remaining transactions.
I'm glad to hear that you're already taking steps to correct your transactions and resolve the discrepancy in your financial data, JerseyStorm. I understand the importance of maintaining accurate records, so I’ll make it a priority to discuss the details in the Reconciliation Discrepancy report to help ensure you feel confident in the actions you've taken.
Before we get started, I’d like to know which QuickBooks product you’re currently using. Are you utilizing QuickBooks Online (QBO) or QuickBooks Desktop (QBDT)?
The Reconciliation Discrepancy report is available only in QBDT and highlights transactions that have changed since your last reconciliation. Based on what you’ve described, yes, it accurately reflects the correct data, especially as you're fixing some of your previously reconciled items.
On the other hand, you can pull up the Reconciliation Summary report in QBO to know which entries were cleared and left uncleared when you reconcile. To pull it up, refer to these steps:
Additionally, would you like to get a copy of your reconciliation reports from QuickBooks for future reference? If so, you can find more details in this article: View, print, or export a reconciliation report.
I'm looking forward to seeing how the Reconciliation report assists you in maintaining the accuracy of your financial records, JerseyStorm. Feel free to reach out anytime you have concerns managing transactions in QuickBooks and have a great day!
There is no Action column when viewing the reconciliation report in history. I am using QBO and it's not there. Having erroneous "help" on your website is worse than having no answers at all.
Mick86 - The way I got around this was to send an invite myself as if I were inviting an outside accountant. Once I accepted the invitation, I could see the 'Action' drop-down on the top right. I understand you have to have QB Online Accountant version (I am not 100% sure of this but that is what other posts said) and you have to be the admin for our QB account. Hope this helps!
It appears you're having an issue with the Action column in your reconciliation report, and I want you to know that you're not alone in this. These kinds of issues can be challenging, but I'm here to help you work through them.
A missing Action column is often tied to cache-related problems in your web browser. The cache is meant to speed up your browsing experience by storing temporary files, but sometimes, it can interfere with how web applications like QuickBooks Online function.
To troubleshoot this, I suggest opening your QuickBooks Online account in an incognito window and checking your reconciliation report from there. If you find that the Action column appears as it should, that's a great sign! You can then return to your regular browser and clear its cache to prevent this issue. If the problem persists, using a different supported browser can also help.
I want to provide you with resources that make this process smoother. Here's a helpful guide on reconciliation: Reconcile an account in QuickBooks Online.
In the future, when you're ready to close your books, you might find this article useful: Close your books in QuickBooks Online.
Should you need further assistance or have additional questions, please don't hesitate to let us know. Here in the Community, we're committed to ensuring you have a seamless experience.
This is not the problem. Admins in QB online cannot undo a previous reconciliation. The only option under Actions in the reconciliation History by account is Print report:
I had to send myself an invitation to be the Accountant for our company. Once I accepted that and opened QB online as Accountant (same login but now have two options - log into the company or as Accountant):
Once logged in as Accountant the dropdown in Actions on the reconciliation History by account page lists Undo. Then you can undo a previous reconciliation.
Agree wholeheartedly!! I am beyond frustrated with Intuit and the move to this crappy software and their constant money grabs, especially for charging extra for expense tracking--what kind of basic accounting software does not come with expense tracking. Now I learn that I cannot undo an entire reconciliation like I am accustom to doing with QuickBooks Desktop? Throw in the fact that I cannot have more than 1 company, despite the fact that I am paying more now annually. They are consistently finding ways to offer less and pay more. Intuit has become a horrible company to do business with.
So here's my situation:
Migrated to QBO from Desktop Premier Non-profit. Reconciled several accounts successfully. But for one account, QBO insisted that my starting balance was off. I checked the transactions via the Balance sheet, and the balance there is correct. Followed the onscreen suggestions, but I cannot figure out from what it's telling me about a deposit with a deleted line. I decided to do what I have done many times before, to undo the previous reconciliation and start over.
After following the rigamarole from earlier, including making myself an accountant, I attempted the reconciiation. This time QBO insists that my balance is off, by a different amount from before, when the balance sheet account shows correct balances. Clearing cache did not help.
We are a tiny not for profit organization, we cannot go running to our outside Reviewers/Auditors/CPAs for things like this. I'm part time here, for almost 8 years now. Before that, among other things I was Treasurer/CFA for my software consulting business. I think I know what I am doing.
Connecting our accounts to banks and other financial institutions is not feasible; We must maintain as much of an 'air gap' as possible. Intuit.QB's remote program will not run on this computer, replacing it in the short term is not feasible, either.
So where do I go from here?
Your efforts to perform some basic troubleshooting steps by clearing cache and starting over a reconciliation are well-appreciated, TumFAdmun.
Let me give you the necessary steps to fix your past reconciled accounts in QuickBooks Online (QBO).
Reconciliation doesn't go through for several reasons. One of which is a discrepancy that occurs whenever someone adds transactions that are way older than the opening balance without making changes to the opening balance entry. I have the steps to fix your past reconciled accounts in QuickBooks Online (QBO).
Initially, you need to review your opening balance to see if they match the similar start date of your balance statement. Once done, you can now check your bank statement to make sure you're reconciling the exact amount for the correct month.
To check, you can follow the steps below:
Once finished, you can now start to match and categorize downloaded transactions. You have to make sure that you've categorized everything to get your final accurate beginning balance.
Afterward, you can now review a discrepancy report to make sure no one has made changes that affect the entire beginning balance of your account, If so, you'll then receive a message before you start to reconcile again.
Here's how:
Lastly, you need to make sure that the Total Discrepancy Difference should be equivalent to US $0.00. This will indicate that you've already categorized and reconciled everything in your account.
Additionally, you can read this article to see elaborated information, along with the steps on how to review and troubleshoot concerns that occur when you try to reconcile in QBO: Fix issues for accounts you've reconciled in the past in QuickBooks Online.
Also, here's an article that you can refer to if you want to generate a reconciliation report in QBO: How do I view, print, or export a reconciliation report?
Reconciliation can be tricky, but I believe you've got this, TumFAdmin. Should you have any additional concerns or inquiries with regard to reconciliation or QBO in general, please know that you can always revisit this thread by clicking the Reply button. Have a nice day.
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