Entering/reconciling prior year transactionsgnidne

The Reconcile feature in QuickBooks Online (QBO) uses an automated system that builds upon previously completed reconciliations, steelecolumbinebooks. Allow me to share details to help with your questions about reconciling older periods.

Please note that QBO will automatically set the Beginning balance from the Ending balance of your most recent reconciliation. This feature is designed to maintain continuity in your financial records.

Currently, there is no option to bypass or manually adjust the amount if you need to reconcile an older period. The system is designed to maintain reconciliations in chronological order.

It's best to reverse the entire reconciliation history up to the point where modifications are necessary. This method allows you to begin anew from the correct starting point, ensuring the accuracy of balances throughout your reconciliation timeline.

If you're using QuickBooks Online for Accountants, you can use a special tool to undo several past reconciliations. Here's how:

1. Go to the Transactions menu and proceed to the Reconcile tab.
2. Click History by account, then select the bank account in the Account field.
3. Find the reconciliation on the list, then click the drop-down list beside View report under the Action column.
4. Choose Undo.
5. Select Yes and click Undo to confirm.

Here's an article about this feature for more details: Undo a client’s reconciliation in QuickBooks Online Accountant.

If you're using a regular version of QBO, use these steps instead:

1. Open the bank register in the chart of accounts.
2. Choose a transaction that you want to unreconcile.
3. Proceed to the Reconcile and Banking Status or in the Checkmark ✔ column.
4. Keep clicking the box with the “R” until it's blank. This removes the transaction from the reconciliation.
5. Click Save.

You can also read more details about this here: Undo or remove transactions from reconciliations in QuickBooks Online.

After that, you can start reconciling the bank from the oldest period that you want. Go straight to the Step 2: Start a reconciliation part of this article in case you need guidance on this: Reconcile an account in QuickBooks Online.

Let me share these articles that can provide additional guidance during the reconciliation process:

• Find previous reconciled adjustments
• How do I view, print, or export a reconciliation report?

Feel free to reply or post any additional questions you have about reconciliations, running financial reports, or any other tasks for your clients in QuickBooks Online. We would be more than happy to assist you further.