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How can I enter transactions from a previous year in QuickBooks Online after having reconciled the next year already? I realized I didn't file taxes for last year, so I want to enter the missing transactions without disrupting anything.
I'm here to ensure you can correct your financial data, @E F.
In QuickBooks Online (QBO), if we miss a specific transaction after our reconciliation, we can correct it by creating a back-dated transaction. Then, after creating the particular transaction, we manually change its status to reconciled - R in the register.
Here's how:
Additionally, visit this article to learn how to unreconcile an individual transaction from a completed reconciliation: Undo or remove transactions from reconciliations in QuickBooks Online.
Please post here in the Community space if you have more questions about managing your data after reconciliation. I'll be here to lend a hand. Stay safe!
nonscience
i talking from a past year and that means open balance equity is effected
Hello there, @E F. Let me provide information on how to enter previous transactions in QuickBooks Online after having reconciled.
Entering historical transactions into reconciled periods can impact the balance between your records and bank statements. But with proper guidance, we can minimize the disruptions and navigate the process smoothly.
Given that you have reconciled your account, we recommend entering any missing transactions chronologically, one month at a time, to ensure accuracy. As you enter these historical transactions, please note that the Opening Balance Equity account may be affected. It is crucial to review and adjust this account to maintain balanced books. After completing the entry of the historical transactions, you must undo and redo the reconciliation of the affected periods.
While we understand that you may seek further assistance, we strongly advise contacting your accountant for advice and support. If you have one, you can invite them and have them undo and redo the entire reconciliation for you. If you don't have one, you can find a professional through this link: https://quickbooks.intuit.com/find-an-accountant/.
I've included an article that you may find helpful if you encounter any reconciliation issues: Fix Issues When Reconciling Accounts.
If you require clarification regarding entering past transactions, please do not hesitate to get in touch by tapping the reply button below. I'd be willing to assist you with any QuickBooks-related inquiries you may have.
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