cleared check from previous reconciliation

35351 · ‎June 14, 2020

Hi! I set up an automatic monthly payment beginning in Feb that were set up through banking bill pay.

Since it is going through bill pay it automatically gets withdrawn from bank account. so in quickbooks it will show the check has been cleared each month, but not necessarily cashed by the recipient. Since Covid, the payment has not been needed so checks have not been cashed. I have received 1st refund of Feb check from the bank since it was not cashed (stale dated). however we were still sending payments until May. We have now cancelled bill pay.

I am reconciling May report in quickbooks currently.

Bottom line: May payment went out (so have an expense out) and received a refund for Feb check which was reconciled and cleared in quickbooks. what is a simple way to handle this?

Catherine_B · ‎June 14, 2020

Hello there, 35351.

To reconcile, simply compare the list of transactions on your bank statement with what's in QuickBooks. Let's just make sure you have the right dates and transactions. If the refund showed on your month of May bank statement, you can include it in your reconciliation. If it still falls under the previous months, you might want to manually reconcile it.

You can refer to this article for more details on how to reconcile accounts: Reconcile an account in QuickBooks Online. I also suggest reaching out to an accountant to know what's best way to reconcile the refund.

You can always get back to me if there's anything else you need help with.

35351 · ‎June 15, 2020

Yes so the Feb refund appears in my May bank statement (which i will record deposit back into account), but i still show the payment in February that was cleared in Feb reconciliation. Is there no need to make any adjustments to that entry?

Candice C · ‎June 15, 2020

Hey there, @35351.

Thanks for reaching back out to the Community. You don't need to make any adjustments to that entry. You're ready to start your month of May bank reconciliation. Here's how:

Go to the Gear icon in the top right-hand corner.
Under the "Tools" section, pick Reconcile.
Select which account you'd like to reconcile.
Enter the Ending Balance and Ending Date.
Press Start Reconciling when ready.

This is a link that can provide some additional information about reconciling an account in QuickBooks Online.

If you have any more questions, feel free to ask. The Community is always here to have your back. Have a great day!

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cleared check from previous reconciliation