Level 1

How can I finish a bank reconciliation when there are outstanding checks?

I checked all the checks/deposits that have cleared the bank.  There is one outstanding check and when I click "finish", the system wants to make an adjusting entry.  No, it's just an outstanding check that will most likely clear the next month.  So, do I just have to 'leave' instead and reconcile when the check clears?  And what if it takes several months to clear?  Your guidance, please.  Thanks in advance!

Solved
Community Champion

Banking

Un-clear the outstanding check. The purpose of reconciliation is to match the bank statement balance to your book balance adjusted for uncleared items. The difference should always be zero and finishing out of balance and letting QB create an adjusting entry is just kicking the can down the road.


If it is not marked cleared and your balance difference is still off then you have another transaction of equal amount either check or deposit that should not exist. You can run a discrepancy report without finishing the reconcile.


If it takes months to clear then contacting the vendor is in order.

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