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Hello QBO community!
The earliest credit reconciliation I see in my client's QBO is for the period 12 Oct 2023 to 11 Nov 2023.
However, there are transactions dated as early as 2022. I see some error in the reconciliation, so I want to undo it. I understand the error has something to do with the opening balance and some added or deleted items after the reconciliation was done. So when I redo the reconciliation, I'm a bit unsure what opening date and opening balance to use since there are transactions prior to the bank recon opening date which is 12 Oct 2023.
Appreciate any answer to my query and guidance.
Hey @Helen83 !
If you’re redoing a reconciliation and find transactions dated before your current opening date (12 Oct 2023), you’ll want to set your opening balance to match the actual balance as of that date. Here's what to do:
This keeps your records consistent!
P.S.: I’m a QuickBooks ProAdvisor with 7+ years of experience. Need help with QuickBooks Bookkeeping?
Google my username, @kabel1657, to see my proven track record!
Hi @kabel1657 ,
Thank you for the quick reply. Below are my follow-up queries:
1) Currently, transactions in QBO dated prior to 12 Oct 2023 are marked "R". Do I have to remove the Rs? What would be the implication if I don't remove the Rs? Cos I'm afraid there are a lot of them. I just checked again, there are even dated 2020.
2) There are 2 transactions that cleared in the credit card statements on 12 Oct 2023 that were booked on 1 Oct and 11 Oct. Since they belong to the 12 Oct-11Nov 2023 credit card statement, do I have to mark them R even if they were recorded in QBO prior to the opening date of the recon?
Appreciate you clarification on the above. Thanks!
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