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blueberry123
January 17, 2021
Question

Uncategorized Income

  • January 17, 2021
  • 1 reply
  • 2 views

Hi! Please help me in my dilemma. Please. Please see the flow below:

 

1. Bank recon was made first.

2. Sept-Dec - Manually added transactions to uncategorized income (I wasn't sure how to categorize them at the time)

3. Reconciled undeposited funds (that year has been cleared)

4. Realized that the manually-added transactions in uncategorized income made the income double. They were like double entries (which I think)

5. Deleted Sept uncategorized income transactions (manually-added)

6. Checked the bank recon after the deletion of Sept

7. Beginning balance showed negative figures. 

8. Ending balance is the year-end balance

 

It's messed up. How can I fix my bank recon provided the scenario above? Please help me! I need to get this done asap. :(

 

1 reply

MichelleBh
MichelleBh
Level 8
January 17, 2021

Hello, @blueberry123.

 

I'll explain to you the moves that you'll need to do, so your beginning balance will fix as soon as possible

 

Since you've deleted transactions to your past reconciliation, you'll need to reconcile the account again. This way, we can fix the negative amount. On the reconciliation page, click the We can help you fix it link to see the list of steps to resolve the concern.

 

 

Once the amounts are positive, you can now continue reconciling the account. For more details about the process, visit this article: Fix issues for accounts you've reconciled in the past in QuickBooks Online.

 

If the issue persists, I'd highly recommend communicating with your accountant if you have. But, if you don't have one, you can go to this page: QuickBooks Live Bookkeeping. That way, they can take a look and deep review of the data. 

 

Also, an accountant can make an adjustment entry to resolve the negative amount. For more information about the process, check this out: Enter an adjusting entry for a reconciliation. 

 

I've also added some pages that help you manage your data, reports, and other related matters. 

 

 

Let me know if you have follow-up questions. I'm happy to provide an explanation and resolutions. Keep safe!

B
blueberry123Author
January 24, 2021

Hi!

 

I've deleted all of the uncategorized income. Now I want to make an adjusting entry. But it's a huge amount though. Can I just proceed with the adjusting entry? I really need to get started with 2020 now. Thanks!

S
SarahannC
Level 9
January 24, 2021

Hello there, blueberry123. Thanks for getting back to us.

 

Yes, you can proceed with the adjusting entry. Still, I'd recommend reaching out to your accountant since it's a huge amount that needs to take action. They are the ones who can ensure the balances of your account and make sure everything is properly set up.
 

Here's a couple of articles that you can check for additional details:

 

 

Please let me know if you have follow-up questions or any concerns related to QuickBooks. Take care and stay safe always.

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