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comet52
Level 1

Reconciliation issue

Need help with a minor issue.


Issued a check through bill.com to a vendor.  He never cashed it and 90 days later it expired.  I later reissued a check which he did cash.

 

The transaction was voided but my bank statement that month shows the 500 going out.   Now when I try to reconcile that month it's off by 500.   Was voiding the transaction wrong?  I also had a refund hit the bank a couple months later and wasn't sure how to categorize that.  

 

7 Comments
SarahannC
Moderator

Reconciliation issue

Hello there, comet52.

 

Let's make sure that you've voided the correct one using the Audit Log feature. Here's how:

 

  1. Go to the Gear icon.
  2. Select Audit Log under Tools.
  3. Click the Filter drop-down, pick the dates when the transactions were deleted, then choose the Show only these events radio button.
  4. Put a check-mark in the Transactions box, then select Deleted/Voided Transactions from the Show drop-down.
  5. Then, click Apply.

 

The Audit log will now be filtered to only show voided transactions based on the filters you applied. You can then click the View option to see the complete details of the deleted check.

 

If you've voided the correct one, it could be that the 500 on your bank statement is caused by the refund. You may need to create a matching refund transaction in Quickbooks first and match your bank transaction to it.

 

When the bank data is downloaded, it tries to find a match with any QuickBooks transactions already entered. If you agree with the match information shown in the row, click the Match button. This will match with the existing QuickBooks transaction.  Here's a sample screenshot:
u.PNG

 

Feel free to check these articles for more details about handling transactions, especially categorizing them in QBO:

 

 

Let me know if you have other question. I'm here whenever you need help. Always take care!

comet52
Level 1

Reconciliation issue

duplicate

comet52
Level 1

Reconciliation issue

Tried your suggestion but the item doesn't show up even if I expand the range to the entire year.    However I can find it through a general search.  The check was voided by bill.com on 8/7/20.  I don't recall doing anything, it just auto-voided as far as I know.   On 11/10 a refund was issued.   I've attached a shot of the void if that is of any use.  Still stuck here, I don't really understand how to resolve this.   The 500 from December needs to somehow be part of the August reconcile?

JasroV
QuickBooks Team

Reconciliation issue

Thanks for attaching a screenshot, @comet52.

 

I'm here to help and share some insights about reconciling your accounts in QuickBooks Online (QBO). The general rule of the process is to base it on the actual date of your bank statement.

 

This way, you can compare each transaction with the ones entered into your account and ensure everything matches. That being said, if the refund is posted in November, you’ll need to reconcile it for that month.

 

To match the refund posted in your bank, you'll need to create a refund transaction as suggested by my college above.

 

However, if you’ve already reconciled your previous month, you'll want to undo it and make some adjustment. To be guided through the process, you can refer to this article for guidance: Undo or remove transactions from reconciliations in QuickBooks Online.

 

I’d also recommend reaching out with your accountant for additional guidance. This way, we can ensure your account is accurate after making these changes. If you’re not affiliated with one, you can visit our ProAdvisor page and we’ll help you find one from there

 

If they have a QuickBooks Accountant Online account, they can undo the reconciliation for you easily. If they haven’t, you can invite them to your account to easily help you with the process.

 

Once done, you and your accountant are ready to reconcile your accounts. In case you run into some issues during reconciliation, you can refer to the troubleshooting steps provided in this article: Learn the reconcile workflow in QuickBooks.

 

You’re always welcome to leave a reply if you have other follow-up questions about reconciling your accounts in QuickBooks. I’m more than happy to work with you again. Have a great day and keep safe.

comet52
Level 1

Reconciliation issue

Since the voided item is for $0 and the bank withdraw is $500, I don't see how the reconcile for August can ever happen.   Somehow there needs to be a 500 dollar debit in August to match what the bank shows.   I was assuming someone in the community could tell me how to fix this.  August is not reconciled so there is no need to undo it.

CharleneMae_F
QuickBooks Team

Reconciliation issue

I'm here to ensure you're able to reconcile your account, comet52.

 

To start, I recommend reviewing your opening balance for the month of August. If it's accurate, check the ending balance you entered for that month. I'll guide you how.

  1. While you're reconciling an account, in the Reconciliation window, select Edit info.
  2. Review the Ending balance and Ending date.
  3. Check your bank statement.
  4. When you're done, select Save.

 

Then, let's enter the transaction in QuickBooks to match what the bank shows. Here's how:

 

  1. Go to the Sales or Expenses menu.
  2. Look for transactions you see on your bank statement, but not in QuickBooks.
  3. If you find any, select and open them.
  4. Check the Deposit to or Payment account. 
  5. Make sure the transactions are in the correct account. Select a different account as needed. 

 

Once done, you can finish reconciling.

 

For more information about the process, please refer to this article: Fix Issues at the End of Reconciliation.

 

If the amount is still off, I suggest contacting your accountant for additional assistance. If you don't have any, visit this link: https://quickbooks.intuit.com/find-an-accountant/, to find one.

 

Additionally, I've added an article that'll help you have a handy copy of your reconciliation: View, Print, or Export a Reconciliation Report?.

 

I encourage clicking the Reply button if you have other questions in reconciling your account. We're here to help you out.

comet52
Level 1

Reconciliation issue

Sigh.  I can see no one here is going to actually help me with this.   

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