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Join nowYou thinks those are duplicate entries in QB, Than after verifying, you can delete that check. Deleting previous year checks will alter this years start balances. IF those were not duplicate checks , than how were you able to reconcile QB. Did you end up clicking "reconcile anyway" and QB entered the adjustment in to journal.
The checks aren't duplicated but there was a period where I needed to create the journal entry to reconciliation discrepancy.
correct I must have selected the option in error because we needed to close the period quickly. I just want to clean it up before the end of this FYE. 03/31/2020
Thank you for sharing what you did to reconcile your account, Chrisrod182120.
There are uncleared checks because you've created a journal entry to force reconcile your account. Please know that it's not advisable to create an adjustment to reconcile an account since it'll cause discrepancies in your future reconciliations.
To fix this, you can undo the last reconciliation and exclude the check. Then, delete the adjustment and reconcile the account again. You'll have to include the check transaction in the next reconciliation.
To undo a previous reconciliation, here's how:
Once done, reopen the Begin Reconciliation window to reconcile your account again.
In addition, you can also choose to create an adjustment for current reconciliation. Please know that this is only applicable once you've verified that all your transactions are already accurate in QuickBooks. It'll be entered in the special expense account called Reconciliation Discrepancies.
You can go to the Chart of Accounts to check if the adjustment you've created is accurate.
To learn more what to do if your accounts in QuickBooks Desktop don't match your bank statements, you can refer to this article for the detailed steps: Fix issues when you're reconciling in QuickBooks Desktop. It also provides information about the causes of reconciliation issues.
Please let me know if you have other concerns. I'm just around to help.
I found the invoices relating to the priors months rec discrepancy. Do I just reverse the journal entry and create a small reconciliation for Feb 2020 because at this point I have already reconciled. Also there are other checks in there that are very old, what can I do about those?
Good afternoon, @Chrisrod182120.
You are correct. You'll need to reverse the journal entry now that you've found the accurate Invoices. You've also got the right idea about creating a small reconcile for February 2020 so that all of your transactions are reconciled correctly. As for your older check, I suggest asking your accountant about what you can do with those. They're more knowledgeable when it comes to your books and can tell you how they'll affect the rest of your accounting.
Feel free to hit the Reply button if you have any other questions. Enjoy your weekend!
If you are sure that , checks were issued and mailed, but never cashed. Than, its an income now. So make a deposit as other income, date it current (equal to total of the checks) and reconcile again using the last statement bank end balance, Here select the checks to be cleared and click the deposit. Do not use anything other than OTHER INCOME. Using other than "Other Income" will alter the balances for previous year.
See the checks were cut, issued and mailed. And its showing up as cashed. Do I still create the deposit to other income?
Good morning, @Chrisrod182120.
Thank you for following up on this thread.
Each business has a unique setup, so I suggest reaching out to your accountant.
Also, if you have any other questions, you can reach out to our QuickBooks Customer Support Team as well.
Here's how to get in touch:
If you have any more QuickBooks questions, please don't hesitate to comment below. Happy Monday!
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