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S
Star I
March 30, 2023
Question

American Express -POs-Bills

  • March 30, 2023
  • 1 reply
  • 4 views

We have our American express account connected to our QuickBooks enterprise desktop; our previous AP left before showing me how they were doing this up until 3 weeks ago. I have reconciled the American express bank feed to the current statement period. When I finished the reconciliation of transactions it wanted to post a payment to the account, I selected yes for it to post a bill that I could pay using our bank account on QB for our records. My question now is are the reconciled transactions in QB, they do not look to be in QB on the Bill/Bill payment side. I am checking for these but am having no luck finding all of them. The account was 2 months behind, so I am in a pickle trying to fix this. Obviously, we want each transaction to hit the correct expense account and site/class for our business. I entered a few but want to make sure I am going about this the correct way before I get too far in. I understand the bank feed side now and reconciliation of the AMEX account, but previously I added transactions to the AmEx ledger without connecting POs. MOST every transaction for AMEX should have a matching PO in our system. Many of these did not get matched up to the transactions in the bank feed side. I feel like I have a bunch of transactions not entered for Amex to reflect the individual bills for expense and site/class purposes. I have printed the Chart of account ledger for AMEX from QB to kind of check it out. If a bill shows up on this list, will it reflect the expense side (if that makes sense)?  I know previously she was adding each bill that did not have a PO and matching a PO to a bank feed transaction- adding a bill- then paying the bill to have it match on the AMEX bank feed transaction side. Since I am out of transactions on that side of things and have reconciled everything on the AMEX bank feed what should I do to make sure these are all correctly recorded? I am worried about double posting things or things not getting posted correctly . It looks like the ledger is much larger than it should be.

1 reply

D
DebSheenD
Level 5
March 30, 2023

Welcome to the Community, @Star I.

 

I'm here to ensure your books are accurate.

 

Let's run the discrepancy report. This helps us find the transactions giving you problems. Here's how:

 

  1. Go to Reports, then select Banking, and then Reconciliation Discrepancy.
  2. Select the Account, and then select OK.
  3. You'll have a list of transactions that changed since your last reconciliation. Use this report to identify the transaction(s) causing the issue.
  4. If you find a discrepancy, note the transaction date and the Entered/Last Modified, which will tell you when the change happened.

 

To correct the discrepancy, you'll need to undo a previous reconciliation and redo it. For the detailed steps, please see these steps: 

 

  1. Back up your QuickBooks company file.
  2. Go to Banking, and then Reconcile.
  3. Select Undo Last Reconciliation.
  4. When prompted, select Continue and then OK.
  5. Close out of reconciliation and open it again.

 

For more details, please see this article: Fix beginning balance issues in QuickBooks Desktop.


Once done, reconcile the previous transactions.

 

Let me also add these articles that you can utilize to seamlessly manage your reports and accounts in the future:

 

 

You can always get back to me if you have other follow-up questions about your balance sheet report or with your account. It’s always my pleasure to help you. Have a great day ahead and stay safe!

S
Star IAuthor
March 30, 2023

Thank you for your reply, when I ran the suggested report the results were blank for all dates. My reconcilation is not the issue. I think I am mainly worried about the POs and Bills that correspond with the transactions marked in the reconcilation. All transactions for the previous statements have been marked in the recon, but as far as bills entered and paid with the credit card on the american express vendor tab there are only a few. I know previously the AP would go in and create new bills for transactions without a PO and then mark it paid with the AMEX card, and connecct those with a PO and also mark it paid. I guess my question is, is there an easy way to find all of these transactions and fix them other than going through 2 months worth of transactions and creating individual bills ? If these transactions were all reconciled with accounts added in the bank feed, is it nessisary to do this final step? 

S
SirielJeaBModerator
Moderator
March 30, 2023

Hey, Star! It's nice to have you back in the Community thread. I appreciate you for following the steps provided by my colleague and submitting additional questions and thoughts about your transactions. Let me help you clear things out.

 

I know how relevant it is to manage your QuickBooks Desktop activities efficiently. Based on the thread, you have correctly reconciled the periods of that specific account. However, we have not cleaned up the transactions causing the QuickBooks register balance to inflate or be incorrect.

 

Let's isolate this issue by recategorizing the transactions and associating them with their respective links. We might also need to delete some of these unreconciled transactions.

 

You are correct that we will have to dig deeper into the reports and correct these transactions manually (one at a time). Let's begin by reviewing your Balance Sheet and setting the correct period and Accounting method. From there, click the Accounts Payable amount to see the associated transaction detail. Please proceed with the following steps below:

 

  1. Review the amount on a specific open bill.
  2. Compare the amount on your QuickBooks register.
  3. If needed, click on the reconciled transaction and select Edit.
  4. Change the Affected Category to Accounts payable.
  5. Save the changes.

 

Once done, apply it as payment to the open bill/pay bills. Before doing any of these, it is best to have an accountant guiding you with the process until you finally clean up the Quickbooks register.

 

If you have the QuickBooks Desktop Enterprise Accountant, there is an accountant tool that will fix the payments that haven't linked to your bills. See the following steps below:

 

  1. Click the Accountant menu, then choose Client Data Review.
  2. Select Fix Unapplied Vendor Payments and Credits.
  3. Fill out and navigate the necessary fields, then hit Save.

 

The following articles will help you track and handle purchase orders and bills in QuickBooks Desktop:

 

 

Our priority is to help you clarify your concerns with managing your transactions or any QuickBooks-related situations. We are looking forward to assisting you at any time. Have a prosperous year with QuickBooks!

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