I started a job in which the previous lady doing it would reconcile the bank account weekly (vs with the bank statement). BUT the reconciliation year was originally entered as something like 2040. She did not know how to correct and didn't worry about it so the past 8-9 years of reconciliations all have reconciliation dates WAAYYYY into the future. I started the job last year and started reconciling the actual bank statements with the correct dates. HOWEVER, the reports and totals are WAY off because they are going off of the reconciliations dated into the future.
Please tell me there is a way of fixing this. I don't even have access to all of the previous bank statements. I want reconciliation reports that are actually correct.
Thanks for posting here in the Community, @telrod.
I appreciate you providing the complete details of your concern. I'm here to here share some information about correcting previous reconciliation in QuickBooks Desktop (QBDT).
Currently, QBDT doesn't have the option to change a reconciliation date. You'll need to undo the process using the correct date. Here's how:
1. Create a backup copy of your company file.
2. Once done, go to the Banking menu at the top, then pick Reconcile on the drop-down.
3. In the Begin Reconciliation window, select the appropriate account then click Undo Last Reconciliation.
4. A message to back up the company file before undoing a previous reconciliation is displayed. If you have already created a backup, choose Continue.
5. Click Ok when the message Undo Previous Reconciliation has completed displays.
Just in case, you can also check out this article for future reference: Fix Reconciliation Discrepancies. If you need further assistance on how to make these corrections, I highly suggest consulting your accountant.
I can see how this feature would be helpful for you and your business. Since this option isn't available yet, I encourage you to submit a feedback to our Product Development Team for review when determining features to be added in updates. Here's how:
1. At the top menu bar, go to Help and pick Send Feedback Online.
2. Enter your request/product suggestion, then choose Next.
3. Click Skip and send a message.
4. Select Feedback as the Category.
Please know that I'm going to send feedback from my side as well.
That's it! Let me know how it goes in the comment section below. I'd be glad to answer should you have any follow-up questions or concerns. Take care and have a wonderful weekend.
Please Learn from this input.
Ignore the Date; do not bother to Unreconcile.
What you see is a Notational function, that is supposed to reflect: For this Date, my source of reference (statement date) shows this Balance, which is my target.
It is Only part of the Reporting and tracking.
Next reconciliation, set the date for what you are doing. That's all you ever are supposed to do = Confirm what shows or Change it to your reality.
Reconciling does not require a Statement or Statement date; now that we can open a bank webpage to see the balance at Any Point, all you need is a Confirmed balance to reconcile Processed Transactions against, in your own system. I have one client with 250 or more daily transactions and we reconcile that account Daily.
Thank you, I know I can undo a reconciliation(s) but I don’t (& can’t) go back 10 yrs. Especially when it was reconciled weekly and I don’t have those bank records.
So there is no way of going in and just correcting dates (maybe thru discrepancies) and fixing them?
The problem is that the reconciliation reports, don’t reflect the reconciled balance because it is pulling in the “future” rec’d balances as well. And I can’t print the detailed report because though it does show the balance but only if I leave ALL of the past years transactions which it includes (again because it thinks they are rec’d 30 years from now). 😕
I am just particular and really want my reports to be accurate but I can’t figure out how to fix this.
Thanks for your help!
Thank you and I have been entering the actual (current) reconciliation dates which is why the reports are off because QB has previous rec’s that are dated as rec’d 30 yrs from now.
And I am aware that the account can be rec’d at any point. I actually go in and check off items weekly to balance the account but I do not actually rec it until the bank statement. I like to have reconciliation reports that match my bank statement.
I realize that this is just a report issue but it is frustrating because the reports are not accurate and the detailed report is now up to about 100+ pages long because it is including ALL the past 9+ yrs of transactions.
I appreciate your input tho.
But then I lose all of my history. I realize I can always go back and look at the “old” bank ledger but I don’t think my boss will like having to do that. 😕
It is just very frustrating.
Thanks for your input!
"But then I lose all of my history."
No "history" is ever Lost.
Perhaps what you didn't tell us is that you have QB Pro. Pro only shows the most recent Reconciliation reports in the Banking reporting submenu. That file, when opened in Premier, shows All of them.
Do not Undo anything. If they reconciliations were right for the Ending Balance, then there is nothing wrong here except the Notation on the header in the Reconciliation Reporting.
I can always and only use the date of 12/31/2000. As long as I keep using the Specific Ending Balance, then I am Reconciled as far as the Values go.
Same error I had but mine is dated 2 years ago. What I did I manually unclear every transaction that has been reconciled in the wrong date but you will need to redo the reconciliation of the affected date.
Please be very careful in the unclearing of the transaction. It would be better to do the backup before doing this.