EOFY and Reconciliation topics https://quickbooks.intuit.com/learn-support/eofy-and-reconciliation/misc/02/reconciliation-au EOFY and Reconciliation topics Wed, 18 Sep 2019 02:51:39 GMT reconciliation-au 2019-09-18T02:51:39Z Find, review, and edit transactions in your account register https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/find-review-and-edit-transactions-in-your-account-register/01/262853#M41 Learn how to find transactions in your account registers so you can review or edit them. Need to double-check your work? You can review and make quick edits to transactions directly from an account register. Account registers also have filter and sorting tools that help speed up your search. Here's how to quickly find and edit transactions in your account register. Step1: Find a transaction There are a few ways to find what you're looking for. Use filters You can apply multiple filters to find transactions. Go to the Accounting menu and select Chart of Accounts. Find and select the register you want to view. If it’s your first time using QuickBooks, select See your Chart of Accounts first. In the Actions column, select  Account history. Select the Filter icon. Then select the filters you want you to apply. You can also use the Find field to search by amount, reference number, or memo. Select Apply. Note: When a filter is on, you’ll see a description next to the filter icon. To remove the filter, select the X in the filter description. Sort transactions You can also sort and order lists by date, reference number, type, type of payment, or reconcile status. By default, your most recent transactions appear at the top. Hover over a column header. Select the ▲ or ▼ icon to order th... Tue, 10 Sep 2019 19:56:48 GMT https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/find-review-and-edit-transactions-in-your-account-register/01/262853#M41 QuickBooksHelp 2019-09-10T19:56:48Z Enter Adjusting journal entries https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/enter-adjusting-journal-entries/01/262753#M40 Learn how to create adjusting journal entries to adjust account balances, and to review the Adjusted Trial Balance report. Ensure that your total debits in the general ledger equal the total credits by entering adjusting journal entires to review the Adjusted Trial Balance report. Note You must be logged in to a company file in QuickBooks Online Accountant to use these features. Adjusting Journal Entries An adjusting journal entry is a journal entry that adjusts an account balance. You can create adjusting journal entries for a variety of reasons, including Booking depreciation or amortisation Reallocating accruals and reversing accruals of prepaid income or expenses Adjusting tax payable for interest, discounts, or penalties Entering bank or credit card fees or interest You can designate journal entries as adjusting journal entries to allow you to easily identify and report on these entries. Make adjusting journal entries From the Toolbar, select the client's company from the Go to client's QuickBooks drop-down list. Select Create ⨁. Under Other, select Journal Entry. Select the Is Adjusting Journal Entry? checkbox. Enter the journal entry, as required. Select Save. The journal entry is recorded and identified as an adjusting journal entry. The Adjusted Trial Balance The Adju... Mon, 09 Sep 2019 07:10:50 GMT https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/enter-adjusting-journal-entries/01/262753#M40 QuickBooksHelp 2019-09-09T07:10:50Z Make and view adjusting journal entries https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/make-and-view-adjusting-journal-entries/01/262650#M39 Learn how to create and view adjusting journal entries. The reasons to create and view adjusted journal entries: Booking depreciation or amortisation Reallocating accruals and reversing accruals of prepaid income or expenses Adjusting tax payable for interest, discounts, or penalties Entering bank or credit card fees or interest Note: You can also view adjusting journal entries in specific reports, and customise other reports to identify adjusting journal entries. Make an adjusting journal entry From the Toolbar, select the client's company from the Go to client's QuickBooks drop-down list. Select Create ⨁. Under Other, select Journal Entry. Select the Is Adjusting Journal Entry? checkbox. Enter the journal entry, as required. Select Save. The journal entry is recorded and identified as an adjusting journal entry. View adjusting journal entries in reports You can view adjusting journal entries in the following reports: Adjusting Journal Entries Adjusted Trial Balance You can customise the following reports to turn on an Adj column: Journal (accountant users see the Adj column by default) Transaction Detail by Account (accountant users see the Adj column by default) Transaction List by Date Transaction List with Splits Recent Transactions General Ledger Review a report: From th... Mon, 09 Sep 2019 07:10:48 GMT https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/make-and-view-adjusting-journal-entries/01/262650#M39 QuickBooksHelp 2019-09-09T07:10:48Z How to setup opening balances and movement balances https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/how-to-setup-opening-balances-and-movement-balances/01/262756#M38 Trying to set up a new file and enter the opening and movement balances?  Follow the steps below     How to setup Opening Balances Click the + icon and select Journal Entry. Enter the date you want to set up the opening balance (e.g. 30/06/2017) Enter in a Journal no. and  copy & paste the name in the memo field (e.g. Journal entry Year end 2017) Select the relevant Accounts and fill out the journal as per the Trial Balance in the existing file (using debit/credit amounts) Click Save and Close   How to set up movement balances Movement balances are used when you start a new file in the middle of a financial year (e.g. 1st of May). Click the + icon and select Journal Entry. Enter the date you want to set up the opening balance (e.g. 01/05/2017) Enter in a Journal no. and  copy & paste the name in the memo field (e.g. Movement 2018) Select the relevant Accounts and fill out the journal as per the Trial Balance in the existing file (using debit/credit amounts) Click Save and Close Note: The debt & credit amounts must be equal in order to complete a Journal Entry. Thu, 18 Jul 2019 15:31:19 GMT https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/how-to-setup-opening-balances-and-movement-balances/01/262756#M38 QuickBooksHelp 2019-07-18T15:31:19Z About beginning balance discrepancies https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/about-beginning-balance-discrepancies/01/262915#M36 To reconcile an account accurately, the beginning balance in QuickBooks Online has to match the beginning balance on your bank statement. To learn more about reconciling and why it is important for your business, see What is reconciling? How the beginning balance is calculated The opening balance on your statement is the total amount your bank has recorded for all the transactions in your account at the beginning of the statement period. The way QuickBooks Online calculates the beginning balance for an account depends on whether the account has ever been reconciled before: Previously-reconciled accounts: The total amount of all reconciled transactions, regardless of date New or previously-unreconciled accounts: The account's initial balance When your QuickBooks Online beginning balance doesn't match the bank statement's, it's called a beginning balance discrepancy. Beginning balance discrepancy causes The most common causes for a beginning balance discrepancy are: The amount or account of a previously-reconciled transaction was changed. A previously-reconciled transaction was deleted. The amount or account of a transaction that was connected to a previously-reconciled transaction was deleted or changed. For example, if you reconcile your credit card statement, including last m... Wed, 18 Sep 2019 00:15:23 GMT https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/about-beginning-balance-discrepancies/01/262915#M36 QuickBooksHelp 2019-09-18T00:15:23Z Resolve A/R or A/P balances on a cash basis Balance Sheet https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/resolve-a-r-or-a-p-balances-on-a-cash-basis-balance-sheet/01/262920#M35 Learn how to fix an Accounts Receivable or Accounts Payable balance on a cash basis Balance Sheet. An issue with the balance is typically caused by one of two things: an accounts payable or accounts receivable transaction has affected the Balance Sheet account, or there's an unapplied payment. Transaction affecting a Balance Sheet account An Accounts Receivable or Accounts Payable balance on a cash basis Balance Sheet is often caused by an accounts payable (A/P) or accounts receivable (A/R) transaction. As soon as the entry is saved, the Accounts Receivable or Accounts Payable account shows a positive balance until you receive payment or pay the bill. Common examples are: GST: Normally reported under BAS Liabilities Payable, a liability account. Security Deposits: Often entered on invoices using a product/service item that is reported under a security deposit liability account. Retainers: Often entered using a product/service item that is reported under a liability account. Asset Purchase: A bill entered to purchase an asset. In these cases, the balance can be left where it is. Such balances have no effect on the Profit and Loss report, which is the main focus of cash basis, not having a zero balance in Accounts Receivable or Accounts Payable. Your accountant can reverse the A... Mon, 05 Aug 2019 19:33:14 GMT https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/resolve-a-r-or-a-p-balances-on-a-cash-basis-balance-sheet/01/262920#M35 QuickBooksHelp 2019-08-05T19:33:14Z Find previous reconciled adjustments https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/find-previous-reconciled-adjustments/01/262945#M34 When you run a reconciliation and it doesn't balance, you have the option to create an adjusting entry. Once an adjustment is accepted and created, the memo field displays Reconcile Adjustment. To view, edit, or delete an adjustment at a later time, you can either use the Search function or run a report. Use the Search function You can use the Search function to locate all reconciliation adjustments. Select Search icon on the toolbar. Select Advanced Search. In the Transaction Type field, select All Transactions. In the first criteria field, specify to search by Memo. In the second criteria field, choose the Contains option. Enter Reconcile in the Reference field. Select Search. The Search function searches for any transaction with a Memo field that contains the word Reconcile. The list of results contains all of the reconciliation adjustments that have been created in date order, starting with the most current. Run a Transaction List by Date report You can customise the Transaction List by Date report to display reconciliation adjustments within a date range. Note: The Transaction List by Date report only applies to QuickBooks Essentials and Plus users. Select Reports. In the For my accountant section, choose Transaction List by Date. In the Report period fields, select the a... Wed, 11 Sep 2019 16:21:35 GMT https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/find-previous-reconciled-adjustments/01/262945#M34 QuickBooksHelp 2019-09-11T16:21:35Z Void a transaction in another period https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/void-a-transaction-in-another-period/01/262879#M33 Learn how to void a transaction in another period without deleting it in QuickBooks Online. Instead of removing the transaction, you can record a reversing entry to void a transaction in another period. You can restore the transaction without any problems since it's still on record. Follow the steps below to void transactions without deleting any of your records. Step 1: Void the transaction Open the transaction you want to void. Select More, then select Transaction journal from the pop-up menu. Keep selecting the Print (printer) icon until you get to the Print page. Select Print. This will serve as your reference. Select the Create (+) icon on the toolbar. Under Other, select Journal Entry. In the Journal date field, enter the date you want to show the transaction as reversed. Enter the accounts in reverse based on the printed transaction journal. Example: If the transaction you want to void is a bill payment, debit the bank account then credit accounts payable. Select Save, then close the window. The transaction is now voided. Step 2: Clear the transaction on the register After voiding, you can either clear the original transaction and the reversing entry through the account register, or make a note to do so the next time you reconcile the account. Note: These 2 transactions... Sat, 24 Aug 2019 00:27:49 GMT https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/void-a-transaction-in-another-period/01/262879#M33 QuickBooksHelp 2019-08-24T00:27:49Z How to view Retained Earnings account details https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/how-to-view-retained-earnings-account-details/01/262777#M32 The Retained Earnings account displays the profit a company reinvests in itself. At the end of the year, QuickBooks Online uses a transfer called electronic swap to move money to Retained Earnings. This swap does not show on any report unless there have been other entries made to the Retained Earnings account. To see what makes up your Retained Earnings, you can run a Profit and Loss report and view details for the Net Income (Loss) amount.   View details of the Retained Earnings account Your Retained Earnings account shows the total of your company's income and expenses from all previous years. When a new financial year starts, QuickBooks Online automatically adds the net income from the previous financial year to your Balance Sheet as Retained Earnings. However, you can't simply select Retained Earnings from the Balance Sheet to view details. The Retained Earnings account is a rollover of all previous financial years' net profit (or loss), and QuickBooks Online automatically and electronically swaps funds from your net income or loss into the account, and does not record any visible transactions for it. Because of this, to see what makes up your Retained Earnings, you have to run your previous year's Profit and Loss statement.   View the Profit and Loss Detail report To view... Thu, 18 Jul 2019 17:59:45 GMT https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/how-to-view-retained-earnings-account-details/01/262777#M32 QuickBooksHelp 2019-07-18T17:59:45Z How to edit your Chart of Accounts [VIDEO] https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/how-to-edit-your-chart-of-accounts-video/01/262665#M31 Below is a short video on how to edit your Chart of Accounts in QuickBooks Online, How to Edit your Chart of Accounts Thu, 18 Jul 2019 14:42:43 GMT https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/how-to-edit-your-chart-of-accounts-video/01/262665#M31 QuickBooksHelp 2019-07-18T14:42:43Z What is reconciling? https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/what-is-reconciling/01/262918#M30 Learn about bank account reconciliation and how it helps keep your QuickBooks accounts accurate. Just like balancing your chequebook, you need to review your bank and credit card accounts in QuickBooks to make sure they match your real-life bank accounts. This is called “reconciling.” Learn how it works When you reconcile, you compare your bank statement to what’s in QuickBooks for a specific period of time. Your task is to make sure everything matches. At the end, the difference between QuickBooks and your bank accounts should be $0.00, although processing payments can sometimes cause a small gap. Learn when to reconcile It’s a good idea to reconcile QuickBooks every month. You’ll learn more about your business each time, and rest easy knowing your info in QuickBooks is 100% accurate. Reconciliations also help you: Know your business' net worth in real-time. Catch matching or accounting errors (which makes tax time much easier). Have better conversations with your accountant. Start reconciling your accounts Learn how to reconcile your accounts in QuickBooks Online. Learn how to reconcile your accounts in  QuickBooks Desktop. Tue, 10 Sep 2019 17:01:15 GMT https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/what-is-reconciling/01/262918#M30 QuickBooksHelp 2019-09-10T17:01:15Z Tips for year-end reconciliation https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/tips-for-year-end-reconciliation/01/262926#M29 If you've never reconciled your accounts, or if you haven’t reconciled on a monthly basis, you’ll need to do so at the end of the year to be sure that your financial reports are correct when preparing your taxes. The following best practices will help with year-end reconciliation: Begin with the oldest bank statement, and reconcile month-by-month up to the most recent statement. The further back you start, the more likely you are to uncover errors and discrepancies. If you've reconciled at some time in the past year, you need to start from that point and move forward, reconciling against each statement, one after the other, in order, up to the most recent statement. If you're missing any old statements, you can ask your bank to reissue any statements you need. You might not be able to see all your reconciled transactions on just one screen in Deposits or Cheques and Payments, but you can select Select Next or Select Previous to scroll through them all. These tips will help you reconcile your year-end accounts. You can also check out detailed steps on how to reconcile your accounts in QuickBooks Online. Fri, 06 Sep 2019 16:46:15 GMT https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/tips-for-year-end-reconciliation/01/262926#M29 QuickBooksHelp 2019-09-06T16:46:15Z How to unreconcile a transaction or undo a reconciliation https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/how-to-unreconcile-a-transaction-or-undo-a-reconciliation/01/263019#M27 Before you decide to unreconcile previously-reconciled transactions, or undo an entire reconciliation, there are several things to consider. The root cause can often be fixed without undoing a reconcile. You can troubleshoot a reconcile when the opening balance is correct or you can make your statement match your reconcile opening balance. Manually editing the reconcile status of transactions may not reveal the root cause of the problem you’re trying to solve, and may even create more problems than you had set out to solve. Manually undoing a reconcile can change the sum of all your reconciled transactions, known as the reconcile opening balance. To prevent issues with your balances, it's best to consult your accounting professional. If you still feel that unreconciling a previously-reconciled transaction, or undoing a reconciliation will help, the following sections provide some guidance. Undo an entire reconciliation To undo an entire reconciliation, you must manually edit each transaction. You can use your reconciliation report or bank statement to identify the transactions you need to edit. Note: If you created an adjustment entry, you’ll need to find and delete that adjustment entry as well. If you have too many transactions to edit and you're connected to an accountant i... Tue, 20 Aug 2019 20:31:49 GMT https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/how-to-unreconcile-a-transaction-or-undo-a-reconciliation/01/263019#M27 QuickBooksHelp 2019-08-20T20:31:49Z Undo your client’s reconciliations with QuickBooks Online Accountant https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/undo-your-client-s-reconciliations-with-quickbooks-online/01/263211#M26 Learn how to undo reconciliations for your clients. This is only available for QuickBooks Online Accountant. As a ProAdvisor or QuickBooks Online Accountant user, you have a special reconciliation tool. If one of your clients needs to edit several transactions on a past reconciliation, it’s sometimes best to start over from the beginning. Follow these steps to undo the entire reconciliation and get a fresh start. Alternatively, you can also edit individual transactions on a reconciliation. How to undo a reconciliation Important: This is a powerful tool. Be careful editing older reconciliations. Undoing a reconciliation also undoes all following reconciliations after the Reconciled on date. If your client reconciles their transaction account every month and you undo a reconciliation from three months ago, you’ll also undo the following two months. Sign in to QuickBooks Online Accountant. Go to your Clients list. Find your customer and open their QuickBooks Online account. Now that you’re in their company file: Go to the Accounting menu. Select the Reconcile tab. Select History by account. Select the account you want to reconcile and date range from the drop-down menus. Find the reconciliation on the list. If you haven’t already, select View report to open the Reconciliation Rep... Mon, 09 Sep 2019 07:10:19 GMT https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/undo-your-client-s-reconciliations-with-quickbooks-online/01/263211#M26 QuickBooksHelp 2019-09-09T07:10:19Z Sort and filter transactions in a register https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/sort-and-filter-transactions-in-a-register/01/263034#M25 Learn how to sort or filter a register in QuickBooks Online. Do you want to sort or filter a register? A register (or account history) lists all of the transactions for an account. We show you how to sort and filter a register. Note Some registers, such as Accounts Receivable and Accounts Payable, can only be sorted by Date. Sort transactions By default register transactions are listed by most recent date. However, you can sort most registers using the following criteria. Date: Sorts the list by transaction date Ref no: Sorts the list by the transaction reference number Type: Sorts by type of transaction Payment: Sorts by the amount of the payment Deposit: Sorts by the deposit amount Reconcile Status: Sorts by the reconciliation status of the transaction To check whether you can sort by the values in a column, hover over the column header. If an up or down arrow appears, you can sort by that column. To add or remove columns, select the Gear icon above the Balance column and select or clear the checkboxes of the columns to add or remove. The Balance column only displays a balance amount when the register is sorted by Date or by Reconcile Status. If you sort by any other column, the Balance column displays N/A. Filter transactions You can apply filters to reduce the number of tr... Thu, 18 Jul 2019 18:49:19 GMT https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/sort-and-filter-transactions-in-a-register/01/263034#M25 QuickBooksHelp 2019-07-18T18:49:19Z FAQ: Basic troubleshooting for balance sheets https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/faq-basic-troubleshooting-for-balance-sheets/01/263050#M24 If you're having problems with your Balance Sheet, there are easy troubleshooting steps to take to resolve common Balance Sheet issues. How do I remove deleted items on my Balance Sheet? The deleted items on your Balance Sheet are transactions associated with a deleted account. Removing deleted items on your Balance Sheet can be done in three steps: Step 1: Undelete the account. Step 2: Move the Transactions (Option 1) or Delete the Transactions (Option 2). Step 3: Re-delete the account. Step 1: How to Undelete the account From the left menu, select Accounting and choose Chart of Accounts. Above the Action column, select the small gear icon, then check Include inactive. Find the deleted account, then in the Action column, select Make active. Step 2: How to move the transactions or delete the transactions (choose one of the two options) (Option 1) How to move the transactions: Find the account you just undeleted. From the Action column drop-down menu, select Edit. In the Name field, rename the account to match the name of an existing account you want to move the transactions to. Select Save and Close, then Yes to confirm the merge. (Option 2) How to delete the transactions: Go to Settings ⚙. Under Your Company, select Chart of Accounts. Find the account you just undeleted, then... Thu, 18 Jul 2019 16:23:18 GMT https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/faq-basic-troubleshooting-for-balance-sheets/01/263050#M24 QuickBooksHelp 2019-07-18T16:23:18Z Resolve reconciliation differences https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/resolve-reconciliation-differences/01/263057#M23 Sometimes, when you reconcile your accounts, it can be difficult to get the difference to equal zero. Use the expert tips in the following sections to help you hunt down tricky transactions. Account mismatches Check to make sure that the account you selected when you started the reconciliation is correct. This is an easy mistake to make, especially if you have multiple accounts with the same bank. To ensure you're reconciling the correct account: Select Accounting, then Reconcile. Check that the name of the account you're reconciling, listed at the top of the Reconcile page, is correct. If it isn't the right account, select Close without saving from the Save for later ▼ drop-down menu. Confirm that you want to close without saving. Select the correct account from the Account ▼ drop-down menu. Enter the statement Ending balance and Ending date. Select Start reconciling. The Reconcile page displays the correct account. Statement information mismatches Make sure the statement information you entered at the beginning of the reconciliation is correct. On the Reconcile page, select Edit info. In the Edit the information from your statement panel, verify that the Ending balance and Ending date information matches the information from your statement. Make any necessary changes to the ... Tue, 10 Sep 2019 21:06:53 GMT https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/resolve-reconciliation-differences/01/263057#M23 QuickBooksHelp 2019-09-10T21:06:53Z Interest or bank charge shows up twice when reconciling and in the register https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/interest-or-bank-charge-shows-up-twice-when-reconciling-and-in/01/263071#M22 Learn how to fix bank fees or interest income which appears both as payment and deposit in the register or when reconciling in QuickBooks Online. This happens if the bank account is incorrectly assigned twice (as both the debit the credit account) to a bank fee or interest income entry. Here's a quick guide to fix the error by re-categorising the bank fee as an expense, and the bank interest as income on the Reconcile screen or Bank Register. Fix duplicates on the Reconcile screen Go to Settings ⚙, then select Reconcile. From the Account ▼ drop-down, choose the appropriate bank account. Select Resume reconciling. Select the bank fee or interest income, then Edit. Correct the entry. Bank fee entry - In the Account column, change the account from Bank to the Expense account you use for bank fees. Interest income entry - Go to Add funds to this deposit section. Under the Account column, change the account from Bank to the Income account you use for bank interest. Select Save and close or Save and new. Fix duplicates on the Bank Register screen Go to Settings ⚙, then select Chart of Accounts. Look for the bank you've reconciling, then select Account history. Select the Filter ▼ drop-down next to All. From the Reconcile status ▼ drop-down, select Not reconciled. Select Apply. Selec... Tue, 27 Aug 2019 20:45:34 GMT https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/interest-or-bank-charge-shows-up-twice-when-reconciling-and-in/01/263071#M22 QuickBooksHelp 2019-08-27T20:45:34Z Edit an incorrect opening balance https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/edit-an-incorrect-opening-balance/01/263079#M21 If the opening balance for one of your accounts is wrong, you can edit it through the Account history for the account. To edit a wrong opening balance: Go to Settings ⚙️, then select Chart of Accounts. Locate the account, then go to the Action column and select Account history. Find the opening balance entry. Tip: If you've got the Date column sorted from newest to oldest, the opening balance entry may be at the end of the list. Select the opening balance entry. Edit the amount. Tip: If you're not able to edit the amount directly on this screen, in some cases you can edit by selecting the Edit ✎ icon. Select Save. Your change will not be saved if you navigate away from the register without saving. If there isn't already an opening balance listed and you want to enter one, see How to enter an opening balance for an existing account. If you're trying to edit an opening balance when reconciling an account in QuickBooks Online with your bank or credit card statement, see Fix an opening balance to match a bank statement. Tue, 27 Aug 2019 16:39:49 GMT https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/edit-an-incorrect-opening-balance/01/263079#M21 QuickBooksHelp 2019-08-27T16:39:49Z Reconcile hub https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/reconcile-hub/01/263101#M20 When you reconcile an account, you compare the beginning balance and transactions listed in your QuickBooks Online company file with your monthly bank or credit card statements to make sure they match. Reconciling verifies that QuickBooks Online agrees with your bank or credit card statement. The following help articles cover everything you need to know about reconciling in QuickBooks Online. Review the links below to help with your reconciliation. General information The following help articles give you general information about reconciling: About reconciling How to reconcile an account How to adjust a reconciliation About year-end reconciliation Troubleshooting The following help articles can help you to resolve issues you may encounter while reconciling: How to troubleshoot a reconciliation with a correct opening balance How to make an incorrect reconcile beginning balance match the bank statement How to fix duplicate interest or bank charges when reconciling or in the bank register Reports Review the following for information about reports: How to view, print or export a current or previous reconciliation report Undo a reconciliation Review the following for help with undoing a reconciliation: How to unreconcile a transaction or undo a reconciliation Fri, 23 Aug 2019 21:09:05 GMT https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/reconcile-hub/01/263101#M20 QuickBooksHelp 2019-08-23T21:09:05Z How do I view, print, or export a reconciliation report? https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/how-do-i-view-print-or-export-a-reconciliation-report/01/263117#M19 Each time you finish reconciling, QuickBooks Online automatically generates a reconciliation report for that session. The reconciliation report is useful if you have trouble reconciling the following month and when you meet with your accountant. The reconciliation report summarises the following: Beginning and ending balances. Lists which transactions were cleared and which were left uncleared when you reconciled. Note: QuickBooks Online automatically generates a new reconciliation report even if you reconcile the account for the same month. How to view a reconciliation report From the left menu, go to Reports. Type Reconciliation Report in the Find report by name search bar. Select Reconciliation Reports. Select the Account for the reconciliation report you want to view. From the Report perioddrop-down arrow, choose the reconcile period. Select View Report. How to print a reconciliation report To print, select the Print icon in the upper right of the report. How to export a reconciliation report to Excel The Reconciliation report in QuickBooks Online is one of the few reports that can't be directly exported to Excel. To manually export this data, do the following: Highlight the information on the report. Right-click and copy the information. Open Excel and right-click and pas... Thu, 18 Jul 2019 16:22:56 GMT https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/how-do-i-view-print-or-export-a-reconciliation-report/01/263117#M19 QuickBooksHelp 2019-07-18T16:22:56Z How to view details for missing reconciliation reports or reconciled transactions https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/how-to-view-details-for-missing-reconciliation-reports-or/01/263122#M18 If a previously-reconciled transaction is no longer marked as reconciled, or if a reconciliation report is missing, one of the following may have occurred: An Accountant user used the Undo Reconcile tool, changing the reconciliation status of the transactions within the reconciled period and removing the corresponding reconciliation report. Note: Only an Accountant user can undo a reconciliation. The reconciled account was merged with another account, removing the reconciliation report without changing the reconciliation status of the transactions within the reconciled period. You can find who made changes to your reconciliation reports or transactions from the Audit Log. View changes to reconciliation reports You can check the Audit Log to find who undid a reconciled transaction or report. Go to Settings ⚙. Under Tools, select Audit Log. Select the Filter button. Under Events, choose Reconciliations. Select Apply. The Audit Log displays a history of all changes made to your reconciliation reports, along with user information for each change. View changes to individual reconciled transactions Go to Settings ⚙. Under Tools, select Audit Log. Select the Filter button. Under Events, choose Reconciliations. Select Apply. Locate and select the transaction to open it. Select More, a... Thu, 18 Jul 2019 13:56:32 GMT https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/how-to-view-details-for-missing-reconciliation-reports-or/01/263122#M18 QuickBooksHelp 2019-07-18T13:56:32Z How to adjust a reconciliation https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/how-to-adjust-a-reconciliation/01/263136#M17 When reconciling, if the difference is not zero when you are finished, but the amount isn't off by very much, you have the option to make an adjusting entry. Taking hours to find amounts that are off by a few pennies doesn't make much sense. Warning  Adjusting entries should be made only as a last resort for small amounts. Making adjusting entries for substantial amounts may create serious issues in the future. We recommend that you ask your accountant before making any adjustments. How adjusting entries impact accounts If the difference after reconciling is a negative number, create a cheque transaction, without a cheque number, which will reduce your bank account and your Opening Balance Equity account by that amount. If the difference after reconciling is a positive number, you'll create a deposit transaction, increasing your bank account and your Opening Balance Equity account by that amount. These adjustments affect only your Balance Sheet, not your Profit & Loss. For more information about what to do if your reconciliation is wrong, see troubleshooting your reconciliation. Enter an adjusting entry From the left menu, select Accounting, and choose Reconcile. Reconcile your account. Select Finish now from the drop-down menu. Confirm the Adjustment date. Select Add adjustme... Thu, 18 Jul 2019 15:33:28 GMT https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/how-to-adjust-a-reconciliation/01/263136#M17 QuickBooksHelp 2019-07-18T15:33:28Z Close your books to lock past transactions https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/close-your-books-to-lock-past-transactions/01/263156#M16 Learn how to close your books in QuickBooks Online. Closing your books means locking everything entered before the closing date. This is an important step to ensuring everything stays the way you want it to. Closing your books prevents any accidental changes that could affect your reports. Here's how to close your books. Close your books Before you start Sign in to QuickBooks Online as a master admin or company admin. Review your books and make sure everything looks good. Here are a few things you can review: Enter any outstanding invoices, expenses, and payments. Reconcile your accounts up to your closing date. Close your books Go to Settings ⚙ and then select Accounts and Settings. Select the Advanced tab. Select Edit ✎ in the Accounting section. Select the Close the books checkbox. Enter a closing date. Give yourself a comfortable deadline. You shouldn't need to edit any transactions before this date. Your new bookkeeping work will start after this point. Select the Allow changes after viewing a warning and entering a password option from the drop-down menu if you want to require a password before editing your closed books. Select Save and then Done. Next steps: Review your closed books Get ready for year-end and check out our Year-end guide and checklist in QuickBooks Online. Fri, 06 Sep 2019 23:14:47 GMT https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/close-your-books-to-lock-past-transactions/01/263156#M16 QuickBooksHelp 2019-09-06T23:14:47Z FAQ for EOFY https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/faq-for-eofy/01/263179#M15 Need help this EOFY? Are you starting FY19 in QuickBooks Online? We've got you covered, we've compiled a  resource hub to help you with Payment Summaries, End of year reconciliation, completing you BAS, for new users you'll find helpful resources to get you started. Year-End Guide EOFY Checklist Single Touch Payroll FAQs How to setup Single Touch Payroll Payment Summaries and QuickBooks Online GST FAQS Lodging BAS and IAS How to setup GST in QuickBooks Online? Recording a GST refund Where do W1 and W2 amounts come from on the BAS report? How do I delete a GST Payment? How to I set up a default tax rate for transactions How do I add a group tax rate? How do I turn off GST GST Centre - Chart of Accounts and Lodgement Journal Overview GST Settings Overview Payroll Single Touch Payroll FAQs How to enable STP Payment Summaries and QuickBooks Online Payroll EOFY Guide Setting opening balances for payroll PAYG Payment summary information - ATO Generating Emdupe file SBR Lodgement Super stream compliance Reconciliation FAQS Reconcile an account Undo a reconciliation in QBOA All about reconciling: links and troubleshooting Opening balance is wrong Closing Books Basics Closing the books How to change the closing date password Reports Queries What's Unapplied Cash Payment? How to create ... Thu, 18 Jul 2019 17:09:38 GMT https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/faq-for-eofy/01/263179#M15 QuickBooksHelp 2019-07-18T17:09:38Z What are account registers in QuickBooks? https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/what-are-account-registers-in-quickbooks/01/263198#M14 Learn what bank registers and account registers are and what you can do with them. QuickBooks uses account registers to keep track of your transactions. They list all of your transactions and the account's current balance. Imagine your account register as a running history of the account. Learn how account registers work Account registers let you dig into the details. You can go into a register and get a detailed, transaction-level history of the account. This is also where you can make edits to individual transactions. Account registers are usually used by accountants and those who want to review the details. You can: See all the transactions in an account Edit, delete, or void transactions Filter accounts to find specific types of transactions Reconcile individual transactions Review reconciliation adjustments Note: The terms “bank register” and “account register” refer to the same thing. Reviewing your register regularly will help you can catch errors and make your reconciliations much easier. Most accounts have a register. Here are a few account registers you may want to review: Bank Credit Card Fixed Assets Other Fixed Assets Other Current Assets Long-term Liabilities Other Current Liabilities Equity (except for retained earnings) *You can't make direct edits to your Acco... Sat, 07 Sep 2019 00:52:47 GMT https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/what-are-account-registers-in-quickbooks/01/263198#M14 QuickBooksHelp 2019-09-07T00:52:47Z Troubleshoot reconcile when opening balance is correct https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/troubleshoot-reconcile-when-opening-balance-is-correct/01/263206#M13 If you're having an issue with account reconciliation and your opening balance is correct, this article is designed to help you identify the cause. For help with reconciling when your opening balance is not correct, see Make an incorrect reconcile opening balance match the bank statement. Opening balance is correct with unreconciled historical transactions in register If you have unreconciled transactions from previous periods in QuickBooks Online which have appeared on your bank statement in the past but your opening balance matches, then one or more of these old transactions have already been accounted for (duplicated and marked with an R). You need to identify the transactions to fix this issue: Go to the Settings ⚙ icon. Under Tools, select Reconcile. Note the opening balance. Select Settings ⚙️. Select Chart of Accounts. Select the account you're trying to reconcile. From the Action column drop-down menu, select Run Report. Select Customise. Set the Report period to All Dates. Apply the following filters: For QuickBooks Online Plus or Essentials: In the Rows/Columns section, select Change Columns, then select the Last Modified checkbox. In the Filter section, select the Cleared checkbox and select Reconciled from the drop-down list. For QuickBooks Online Simple Start: Sel... Fri, 23 Aug 2019 21:09:07 GMT https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/troubleshoot-reconcile-when-opening-balance-is-correct/01/263206#M13 QuickBooksHelp 2019-08-23T21:09:07Z Change the opening balance of a bank account https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/change-the-opening-balance-of-a-bank-account/01/263219#M12 Learn how to change your opening balance in QuickBooks Online. Here are some of the reasons why you might need to change the opening balance of your account: To correct an erroneous opening balance To enter an opening balance for an account set up without one To change an opening balance when adding historical transactions to an account We'll show you how to update your account's opening balance so you're confident that your books are accurate and up-to-date. Warning: Talk to your accountant before following any of the steps in the following sections. Change the account opening balance To change or update the opening balance for an account: Go to Settings ⚙️, then select Chart of Accounts. Locate the account. From the Actioncolumn ▼ drop-down menu, select Run Report. From the Report period ▼ drop-down menu, select All Dates. Select Run report. Select the earliest deposit posted that is noted as Opening Balance in Memo/Description field to open the Bank Deposit window. Enter the new opening balance date in the Date field. Go to Add funds to this deposit, then enter the new opening balance in the Amount column for the Opening Balance Equity entry. Select Save and close. Enter an opening balance for an existing account If you did not enter an opening balance when you set up an ac... Tue, 10 Sep 2019 19:56:50 GMT https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/change-the-opening-balance-of-a-bank-account/01/263219#M12 QuickBooksHelp 2019-09-10T19:56:50Z Enter a beginning balance for an existing account https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/enter-a-beginning-balance-for-an-existing-account/01/263250#M11 You can easily enter an opening balance for an existing account by creating a journal entry to offset the opening balance equity. For assets and expense accounts, QuickBooks Online debits the new account and then credits the Opening Balance Equity account. For liabilities, equity, and income accounts, QuickBooks Online credits the account and then debits the Opening Balance Equity account. For accounts with a register, once you have entered the beginning balance, you need to mark the transaction as reconciled. Enter an opening balance journal entry To enter an opening balance journal entry: Select Create ⨁. Under Other, select Journal Entry. Enter the Journal date. On the first line, specify the Account to enter the opening balance for. Enter the opening balance amount in either the Debit or Credit column, depending on the account type. For assets and expense accounts, enter the opening balance amount in the Debit column. For liabilities, equity, and income accounts, enter the opening balance amount in the Credit column. In the Name field, specify one of the following, depending on your entry in the Account column: Specify a Customer name if you selected Accounts Receivable/Debtors Specify a Supplier name if you selected Accounts Payable/Creditors On the next line, select the ... Thu, 12 Sep 2019 20:07:59 GMT https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/enter-a-beginning-balance-for-an-existing-account/01/263250#M11 QuickBooksHelp 2019-09-12T20:07:59Z Resolving duplicate transactions in your Chart of Accounts [Video] https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/resolving-duplicate-transactions-in-your-chart-of-accounts-video/01/262667#M10 Is there a discrepancy in your account balance due to a duplicated transaction? this can be removed from with the Chart of Account Click Accounting in the left hand menu In the Action column select Account History for the account with the duplicate transaction/s Click on the transaction you wish to delete Click Delete Repeat steps for any other transactions you wish to remove Note: Transactions with green boxes in the ✔ column came from your bank feed. Thu, 18 Jul 2019 14:43:21 GMT https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/resolving-duplicate-transactions-in-your-chart-of-accounts-video/01/262667#M10 QuickBooksHelp 2019-07-18T14:43:21Z Edit an incorrect opening balance [Video] https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/edit-an-incorrect-opening-balance-video/01/262614#M9 If the opening balance for one of your accounts is wrong, you can edit it through the Register (or Account history) for the account. To edit a wrong opening balance: Select the Gear icon at the top, then Chart of Accounts. Locate the account, then go to the Action column and select View register (or Account history). Find the opening balance entry. Tip: If you've got the Date column sorted from newest to oldest, the opening balance entry is likely at the bottom or end of the list. Select the opening balance entry once you've located it. Edit the amount. Tip: If you're not able to edit the amount directly on this screen, in some cases you can edit by selecting the Edit button. Select Save. Note that the change will not be saved if you navigate away from the register without saving. If there isn't already an opening balance listed and you want to enter one, see How do I enter a beginning balance for an account after it has been set up? If you're trying to edit an opening balance when reconciling an account in QuickBooks Online with your bank or credit card statement, see My reconcile opening balance is wrong. How do I make it match my statement? Thu, 18 Jul 2019 13:55:28 GMT https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/edit-an-incorrect-opening-balance-video/01/262614#M9 QuickBooksHelp 2019-07-18T13:55:28Z Year-end guide and checklist https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/year-end-guide-and-checklist/01/263221#M8 As the end of the year approaches, you and your accountant will need to complete certain tasks in QuickBooks Online to close out the old year and prepare for the new one. The following sections can help guide you through these year-end tasks to make the ending of one year and the beginning of another easier. Task 1: Confirm the first month of your financial year It's important to ensure that the correct month is selected for the start of your financial year to allow QuickBooks Online to clear accounting ledgers behind the scenes while you work on other year-end activities. To confirm or change the first month of your financial year: Go to the Settings ⚙ icon. Select Account and Settings. Select Advanced. In the Accounting section, verify that the setting in the First month of financial year field is correct, or select the pencil (edit) icon to change the setting. Select Save. Select Done. Your financial year is confirmed. Task 2: Confirm customer account balances, send statements, and clear any outstanding deposits At the end of the year, it's a good idea to ensure your client base has up to date account balances and that billing and payments are all up to date. To check customer account balances: From the left menu, select Reports. In the search bar, enter Accounts Receivable... Mon, 26 Aug 2019 19:25:58 GMT https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/year-end-guide-and-checklist/01/263221#M8 QuickBooksHelp 2019-08-26T19:25:58Z Fix an opening balance to match a bank statement https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/fix-an-opening-balance-to-match-a-bank-statement/01/263130#M7 Learn how to update an opening balance to match a bank statement. Are the beginning balances for your QuickBooks Online account and bank statement mismatched? If so, you need to resolve these before you can reconcile your accounts. Depending on the situation there's a variety of solutions. We explain them in the sections below. For more information on beginning balances: see Why doesn't my QuickBooks Online beginning balance match my statement? Check balance for new or never-reconciled accounts If you have a new, never reconciled or bank feed account, check the beginning balance. Not sure if the account has been reconciled? Look under the Ending date field for the Last statement ending date. If there isn't one, this account hasn't been reconciled before. Go to the Settings ⚙ icon. Select Chart of Accounts. Locate the account in the Chart of Accounts. From the Action column, select Account history. Check the account's opening balance. If it's incorrect, you'll need to edit it. If there isn't one, you'll need to enter it. Check bank feed accounts First, check the account history for downloaded transactions that cleared the bank before the statement's start date. Delete these transactions to correct the beginning balance. When you connect your bank, it automatically records a beg... Mon, 09 Sep 2019 21:11:34 GMT https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/fix-an-opening-balance-to-match-a-bank-statement/01/263130#M7 QuickBooksHelp 2019-09-09T21:11:34Z Remove accounts you no longer use https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/remove-accounts-you-no-longer-use/01/263129#M6 Learn how to hide accounts you no longer need in QuickBooks Online. Keep your chart of accounts organised. If you have income or expense accounts you no longer use, you can make them inactive. This hides the accounts from the Chart of Accounts tab and other places where you can choose accounts. If the accounts have transactions, don’t worry. QuickBooks keeps them so your reports and tax forms remain accurate. Make an account inactive Tip: If you want to disconnect your bank, PayPal, or credit card and stop auto-download of transactions, use these steps instead. Go to Settings ⚙ and select Chart of Accounts. Find the account you want to hide. Select the small arrow ▼ in the ACTION column. Then select Make inactive. To check the accounts you made inactive in the Chart of Accounts tab: Select Settings ⚙ above the Action column, then select Include inactive. If you need to make an account register inactive Examples of accounts with registers are bank, credit card, asset, liability, and equity accounts. If a register doesn’t have any transactions yet, it’s ok to make it inactive. But there’s usually no reason to do so if it has transactions. If you make a register with transactions inactive, QuickBooks will create an adjustment entry to zero out that register’s balance. This adjust... Sat, 07 Sep 2019 00:52:49 GMT https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/remove-accounts-you-no-longer-use/01/263129#M6 QuickBooksHelp 2019-09-07T00:52:49Z Reconcile accounts https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/reconcile-accounts/01/263148#M5 When you reconcile an account, you compare the beginning balance and transactions listed in your QuickBooks Online company file with your monthly bank or credit card statements to make sure they match. You know your bank and your books agree when the difference between them is $0.00. Learn more about the rewards of reconciliation. We recommend that you reconcile your account when you receive each period's statement. However, if you've never reconciled, or you haven't been doing it regularly, you can still follow these steps to reconcile your accounts. Begin with the oldest bank statement, and reconcile month-by-month up to the most recent statement. The further back you start, the more likely you are to uncover errors and discrepancies. If you've reconciled at some time in the past year, you need to start from that point and move forward, reconciling against each statement, one after the other, in order, up to the most recent statement. Note: On average, manual reconciliations can take up to an hour. If you connect your bank to QuickBooks Online, it usually takes less than 10 minutes. Set up the reconciliation Go to Settings ⚙️. Select Reconcile. From the Account ▼ drop-down menu, select the appropriate bank account. Depending on the type of account, different statement inform... Tue, 10 Sep 2019 17:01:13 GMT https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/reconcile-accounts/01/263148#M5 QuickBooksHelp 2019-09-10T17:01:13Z Avoid undoing a reconciliation https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/avoid-undoing-a-reconciliation/01/262678#M4 If you're connected to an accountant in QuickBooks Online, your accountant can undo or delete completed reconciliations. But you may not need to do this and lose all your reconciliation work. Try these tips before you ask your accountant to undo a reconcile If your statement beginning balance doesn't match what you have in QuickBooks Online, you don't have to delete or undo the reconciliation. Instead, see fix an incorrect beginning balance. When you're reconciling, see how do I reconcile an account if you can't get the difference between your bank and books to equal zero. If it makes sense to start over with a reconciliation or undo a completed reconciliation, try one of these options Restart the process of selecting transactions If the best plan is to start selecting transactions again: Use the Filter icon to hide transactions after the statement ending date. This is the default setting so the filter may already be set. Select the checkbox at the top of the checkbox column until you remove all the ticks. Check the beginning balance on the statement to make sure it matches what you have in QuickBooks Online. If the beginning balance doesn't match, see fix an incorrect beginning balance. Double-check the statement information you entered when you started reconciling. If it isn... Thu, 18 Jul 2019 13:53:46 GMT https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/avoid-undoing-a-reconciliation/01/262678#M4 QuickBooksHelp 2019-07-18T13:53:46Z How to enter an opening balance for a Chart of Account [VIDEO] https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/how-to-enter-an-opening-balance-for-a-chart-of-account-video/01/262595#M3 Below is a short video of how to enter an opening balance for a Chart of Account in QuickBooks Online How to enter an opening balance for a Chart of Account  Thu, 18 Jul 2019 14:45:57 GMT https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/how-to-enter-an-opening-balance-for-a-chart-of-account-video/01/262595#M3 QuickBooksHelp 2019-07-18T14:45:57Z How to edit an opening balance for a Chart of Account [VIDEO] https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/how-to-edit-an-opening-balance-for-a-chart-of-account-video/01/262592#M2 Below is a short video on how to edit an opening balance for a Chart of Account in QuickBooks Online How to edit an opening balance for a Chart of Account  Thu, 18 Jul 2019 14:42:53 GMT https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/how-to-edit-an-opening-balance-for-a-chart-of-account-video/01/262592#M2 QuickBooksHelp 2019-07-18T14:42:53Z Delete Chart of Account [VIDEO] https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/delete-chart-of-account-video/01/262591#M1 Below is a short video on how to delete a Chart of Account in QuickBooks Online How to delete a Chart of Account Thu, 18 Jul 2019 15:30:57 GMT https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/delete-chart-of-account-video/01/262591#M1 QuickBooksHelp 2019-07-18T15:30:57Z
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<title>EOFY and Reconciliation topics</title>
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https://quickbooks.intuit.com/learn-support/eofy-and-reconciliation/misc/02/reconciliation-au
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<pubDate>Wed, 18 Sep 2019 02:51:39 GMT</pubDate>
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Find, review, and edit transactions in your account register
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https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/find-review-and-edit-transactions-in-your-account-register/01/262853#M41
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Learn how to find transactions in your account registers so you can review or edit them. Need to double-check your work? You can review and make quick edits to transactions directly from an account register. Account registers also have filter and sorting tools that help speed up your search. Here's how to quickly find and edit transactions in your account register. Step1: Find a transaction There are a few ways to find what you're looking for. Use filters You can apply multiple filters to find transactions. Go to the Accounting menu and select Chart of Accounts. Find and select the register you want to view. If it’s your first time using QuickBooks, select See your Chart of Accounts first. In the Actions column, select &nbsp;Account history. Select the Filter icon. Then select the filters you want you to apply. You can also use the Find field to search by amount, reference number, or memo. Select Apply. Note: When a filter is on, you’ll see a description next to the filter icon. To remove the filter, select the X in the filter description. Sort transactions You can also sort and order lists by date, reference number, type, type of payment, or reconcile status. By default, your most recent transactions appear at the top. Hover over a column header. Select the ▲ or ▼ icon to order th...
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<title>Enter Adjusting journal entries</title>
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https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/enter-adjusting-journal-entries/01/262753#M40
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Learn how to create adjusting journal entries to adjust account balances, and to review the Adjusted Trial Balance report. Ensure that your total&nbsp;debits in the general ledger equal the total credits by entering adjusting journal entires to review the Adjusted Trial Balance report. Note You must be logged in to a company file in&nbsp;QuickBooks Online Accountant to use these features. Adjusting Journal Entries An adjusting journal entry is a journal entry that adjusts an account balance. You can create adjusting journal entries for a variety of reasons, including Booking depreciation or amortisation Reallocating accruals and reversing accruals of prepaid income or expenses Adjusting tax payable for interest, discounts, or penalties Entering bank or credit card fees or interest You can designate journal entries as adjusting journal entries to allow you to easily identify and report on these entries. Make adjusting journal entries From the Toolbar, select the client's company from the Go to client's QuickBooks drop-down list. Select&nbsp;Create ⨁. Under Other, select Journal Entry. Select the Is Adjusting Journal Entry? checkbox. Enter the journal entry, as required. Select Save. The journal entry is recorded and identified as an adjusting journal entry. The Adjusted Trial Balance The Adju...
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<title>Make and view adjusting journal entries</title>
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</link>
<description>
Learn how to create and view adjusting journal entries. The reasons to create and view adjusted journal entries: Booking depreciation or amortisation Reallocating accruals and reversing accruals of prepaid income or expenses Adjusting tax payable for interest, discounts, or penalties Entering bank or credit card fees or interest Note:&nbsp;You can also view adjusting journal entries in specific reports, and customise other reports to identify adjusting journal entries. Make an adjusting journal entry From the Toolbar, select the client's company from the Go to client's QuickBooks drop-down list. Select&nbsp;Create ⨁. Under Other, select Journal Entry. Select the Is Adjusting Journal Entry? checkbox. Enter the journal entry, as required. Select Save. The journal entry is recorded and identified as an adjusting journal entry. View adjusting journal entries in reports You can view adjusting journal entries in the following reports: Adjusting Journal Entries Adjusted Trial Balance You can customise the following reports to turn on an Adj column: Journal (accountant users see the Adj column by default) Transaction Detail by Account (accountant users see the Adj column by default) Transaction List by Date Transaction List with Splits Recent Transactions General Ledger Review a report: From th...
</description>
<pubDate>Mon, 09 Sep 2019 07:10:48 GMT</pubDate>
<guid>
https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/make-and-view-adjusting-journal-entries/01/262650#M39
</guid>
<dc:creator>QuickBooksHelp</dc:creator>
<dc:date>2019-09-09T07:10:48Z</dc:date>
</item>
<item>
<title>
How to setup opening balances and movement balances
</title>
<link>
https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/how-to-setup-opening-balances-and-movement-balances/01/262756#M38
</link>
<description>
Trying to set up a new file and enter the&nbsp;opening and movement balances?&nbsp; Follow the steps below &nbsp; &nbsp; How to setup Opening Balances Click the + icon and select Journal Entry. Enter the date you want to set up the opening balance&nbsp;(e.g. 30/06/2017) Enter in a Journal no. and&nbsp; copy &amp; paste the name in the memo field (e.g. Journal entry Year end 2017) Select the relevant Accounts and fill out the journal as per the Trial Balance in the existing file (using debit/credit amounts) Click Save and Close &nbsp; How to set up movement balances Movement balances are used when you start a new&nbsp;file in the middle of a financial&nbsp;year (e.g. 1st of May). Click the + icon and select Journal Entry. Enter the date you want to set up the opening balance&nbsp;(e.g. 01/05/2017) Enter in a Journal no. and&nbsp; copy &amp; paste the name in the memo field (e.g. Movement 2018) Select the relevant Accounts and fill out the journal as per the Trial Balance in the existing file (using debit/credit amounts) Click Save and Close Note: The debt &amp; credit amounts must be equal in order to complete a Journal Entry.
</description>
<pubDate>Thu, 18 Jul 2019 15:31:19 GMT</pubDate>
<guid>
https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/how-to-setup-opening-balances-and-movement-balances/01/262756#M38
</guid>
<dc:creator>QuickBooksHelp</dc:creator>
<dc:date>2019-07-18T15:31:19Z</dc:date>
</item>
<item>
<title>About beginning balance discrepancies</title>
<link>
https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/about-beginning-balance-discrepancies/01/262915#M36
</link>
<description>
To reconcile an account accurately, the beginning balance in QuickBooks Online has to match the beginning balance on your bank statement. To learn more about reconciling and why it is important for your business, see&nbsp;What is reconciling? How the beginning balance is calculated The opening balance on your statement is the total amount your bank has recorded for all the transactions in your account at the beginning of the statement period. The way QuickBooks Online calculates the beginning balance for an account depends on whether the account has ever been reconciled before: Previously-reconciled accounts:&nbsp;The total amount of all reconciled transactions, regardless of date New or previously-unreconciled accounts:&nbsp;The account's initial balance When your QuickBooks Online beginning balance doesn't match the bank statement's, it's called a beginning balance discrepancy. Beginning balance discrepancy causes The most common causes for a beginning balance discrepancy are: The amount or account of a previously-reconciled transaction was changed. A previously-reconciled transaction was deleted. The amount or account of a transaction that was connected to a previously-reconciled transaction was deleted or changed. For example, if you reconcile your credit card statement, including last m...
</description>
<pubDate>Wed, 18 Sep 2019 00:15:23 GMT</pubDate>
<guid>
https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/about-beginning-balance-discrepancies/01/262915#M36
</guid>
<dc:creator>QuickBooksHelp</dc:creator>
<dc:date>2019-09-18T00:15:23Z</dc:date>
</item>
<item>
<title>
Resolve A/R or A/P balances on a cash basis Balance Sheet
</title>
<link>
https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/resolve-a-r-or-a-p-balances-on-a-cash-basis-balance-sheet/01/262920#M35
</link>
<description>
Learn how to fix an Accounts Receivable or Accounts Payable balance on a cash basis Balance Sheet. An issue with the balance is typically caused by one of two things: an accounts payable or accounts receivable transaction has affected the Balance Sheet account, or there's an unapplied payment. Transaction affecting a Balance Sheet account An Accounts Receivable or Accounts Payable balance on a cash basis Balance Sheet is often caused by an accounts payable (A/P) or accounts receivable (A/R) transaction. As soon as the entry is saved, the Accounts Receivable or Accounts Payable account shows a positive balance until you receive payment or pay the bill. Common examples are: GST: Normally reported under BAS Liabilities Payable, a liability account. Security Deposits: Often entered on invoices using a product/service item that is reported under a security deposit liability account. Retainers: Often entered using a product/service item that is reported under a liability account. Asset Purchase: A bill entered to purchase an asset. In these cases, the balance can be left where it is. Such balances have no effect on the Profit and Loss report, which is the main focus of cash basis, not having a zero balance in Accounts Receivable or Accounts Payable. Your accountant can reverse the A...
</description>
<pubDate>Mon, 05 Aug 2019 19:33:14 GMT</pubDate>
<guid>
https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/resolve-a-r-or-a-p-balances-on-a-cash-basis-balance-sheet/01/262920#M35
</guid>
<dc:creator>QuickBooksHelp</dc:creator>
<dc:date>2019-08-05T19:33:14Z</dc:date>
</item>
<item>
<title>Find previous reconciled adjustments</title>
<link>
https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/find-previous-reconciled-adjustments/01/262945#M34
</link>
<description>
When&nbsp;you run a reconciliation and it doesn't balance, you have the option to create an adjusting entry. Once an adjustment is accepted and created, the memo field displays&nbsp;Reconcile Adjustment. To view, edit, or delete&nbsp;an adjustment at a later time, you can either use the Search function or run a report. Use the Search function You can use the Search function to locate all reconciliation adjustments. Select Search icon on the toolbar. Select Advanced Search. In the Transaction Type field, select All Transactions. In the first criteria field, specify to search by Memo. In the second criteria field, choose the&nbsp;Contains&nbsp;option. Enter Reconcile in the Reference field. Select Search. The Search function searches for any transaction with a Memo field that contains the word Reconcile. The list of results contains all of the reconciliation adjustments that have been created in date order, starting with the most current. Run a Transaction List by Date report You can customise the Transaction List by Date report to display reconciliation adjustments within a date range. Note: The Transaction List by Date report only applies to QuickBooks Essentials and Plus users. Select&nbsp;Reports. In the For my accountant section, choose Transaction List by Date. In the Report period fields, select the a...
</description>
<pubDate>Wed, 11 Sep 2019 16:21:35 GMT</pubDate>
<guid>
https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/find-previous-reconciled-adjustments/01/262945#M34
</guid>
<dc:creator>QuickBooksHelp</dc:creator>
<dc:date>2019-09-11T16:21:35Z</dc:date>
</item>
<item>
<title>Void a transaction in another period</title>
<link>
https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/void-a-transaction-in-another-period/01/262879#M33
</link>
<description>
Learn how to void a transaction in another period without deleting it in QuickBooks Online. Instead of removing the transaction, you can record a reversing entry to void a transaction in another period. You can restore the transaction without any problems since it's still on record. Follow the steps below to void transactions without deleting any of your records. Step 1: Void the transaction Open the transaction you want to void. Select More, then select&nbsp;Transaction journal&nbsp;from the pop-up menu. Keep selecting the Print (printer) icon until you get to the Print page. Select Print. This will serve as your reference. Select the Create (+) icon on the toolbar. Under Other, select Journal Entry. In the Journal date field, enter the date you want to show the transaction as reversed. Enter the accounts in reverse based on the printed transaction journal. Example: If the transaction you want to void is a bill payment, debit the bank account then credit accounts payable. Select Save, then close the window. The transaction is now voided. Step 2: Clear the transaction on the register After voiding, you can either clear the original transaction and the reversing entry through the account register, or make a note to do so the next time you reconcile the account. Note: These 2 transactions...
</description>
<pubDate>Sat, 24 Aug 2019 00:27:49 GMT</pubDate>
<guid>
https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/void-a-transaction-in-another-period/01/262879#M33
</guid>
<dc:creator>QuickBooksHelp</dc:creator>
<dc:date>2019-08-24T00:27:49Z</dc:date>
</item>
<item>
<title>How to view Retained Earnings account details</title>
<link>
https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/how-to-view-retained-earnings-account-details/01/262777#M32
</link>
<description>
The Retained Earnings account displays the profit a company reinvests in itself. At the end of the year, QuickBooks Online uses a transfer called electronic swap to move money to Retained Earnings. This swap does not show on any report unless there have been other entries made to the Retained Earnings account. To see what makes up your&nbsp;Retained Earnings, you can run a Profit and Loss report and view details for the Net Income (Loss) amount. &nbsp; View details of the Retained Earnings account Your Retained Earnings account shows the total of your company's income and expenses from all previous years. When a new financial year starts, QuickBooks Online automatically adds the net income from the previous financial year to your Balance Sheet as Retained Earnings. However, you&nbsp;can't simply select Retained Earnings from the Balance Sheet to view details. The Retained Earnings account is a rollover of all previous financial years' net profit (or loss), and QuickBooks Online automatically and electronically swaps funds from your net income or loss into the account, and does not record any visible transactions for it. Because of this, to see what makes up your Retained Earnings, you have to run your previous year's Profit and Loss statement. &nbsp; View the Profit and Loss Detail report To view...
</description>
<pubDate>Thu, 18 Jul 2019 17:59:45 GMT</pubDate>
<guid>
https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/how-to-view-retained-earnings-account-details/01/262777#M32
</guid>
<dc:creator>QuickBooksHelp</dc:creator>
<dc:date>2019-07-18T17:59:45Z</dc:date>
</item>
<item>
<title>How to edit your Chart of Accounts [VIDEO]</title>
<link>
https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/how-to-edit-your-chart-of-accounts-video/01/262665#M31
</link>
<description>
Below is a short video on how to edit your Chart of Accounts in QuickBooks Online, How to Edit your Chart of Accounts
</description>
<pubDate>Thu, 18 Jul 2019 14:42:43 GMT</pubDate>
<guid>
https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/how-to-edit-your-chart-of-accounts-video/01/262665#M31
</guid>
<dc:creator>QuickBooksHelp</dc:creator>
<dc:date>2019-07-18T14:42:43Z</dc:date>
</item>
<item>
<title>What is reconciling?</title>
<link>
https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/what-is-reconciling/01/262918#M30
</link>
<description>
Learn about bank account reconciliation and how it helps keep your QuickBooks accounts accurate. Just like balancing your chequebook, you need to review your bank and credit card accounts in QuickBooks to make sure they match your real-life bank accounts. This is called “reconciling.” Learn how it works When you reconcile, you compare your bank statement to what’s in QuickBooks for a specific period of time. Your task is to make sure everything matches. At the end, the difference between QuickBooks and your bank accounts should be $0.00, although processing payments can sometimes cause a small gap. Learn when to reconcile It’s a good idea to reconcile QuickBooks every month. You’ll learn more about your business each time, and rest easy knowing your info in QuickBooks is 100% accurate. Reconciliations also help you: Know your business' net worth in real-time. Catch matching or accounting errors (which makes tax time much easier). Have better conversations with your accountant. Start reconciling your accounts Learn how to reconcile your accounts in QuickBooks Online. Learn how to reconcile your accounts in &nbsp;QuickBooks Desktop.
</description>
<pubDate>Tue, 10 Sep 2019 17:01:15 GMT</pubDate>
<guid>
https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/what-is-reconciling/01/262918#M30
</guid>
<dc:creator>QuickBooksHelp</dc:creator>
<dc:date>2019-09-10T17:01:15Z</dc:date>
</item>
<item>
<title>Tips for year-end reconciliation</title>
<link>
https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/tips-for-year-end-reconciliation/01/262926#M29
</link>
<description>
If you've never reconciled your accounts, or if you haven’t reconciled on a monthly basis, you’ll need to do so at the end of the year to be sure that your financial reports are correct when&nbsp;preparing your taxes. The following best practices will help with year-end reconciliation: Begin with the oldest bank statement,&nbsp;and reconcile month-by-month up to the most recent statement. The further back you start, the more likely you are to uncover errors and discrepancies. If you've reconciled at some time in the past year, you need to start from that point and move forward,&nbsp;reconciling against each statement, one after the other, in order, up to the most recent statement. If you're missing any old statements, you can ask your bank to reissue any statements you need. You might not be able to see all your reconciled transactions on just one screen in Deposits or Cheques and Payments,&nbsp;but you can select Select Next or Select Previous to scroll through them all. These tips will help you reconcile your year-end accounts. You can also check out detailed steps on how to&nbsp;reconcile your accounts in QuickBooks Online.
</description>
<pubDate>Fri, 06 Sep 2019 16:46:15 GMT</pubDate>
<guid>
https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/tips-for-year-end-reconciliation/01/262926#M29
</guid>
<dc:creator>QuickBooksHelp</dc:creator>
<dc:date>2019-09-06T16:46:15Z</dc:date>
</item>
<item>
<title>
How to unreconcile a transaction or undo a reconciliation
</title>
<link>
https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/how-to-unreconcile-a-transaction-or-undo-a-reconciliation/01/263019#M27
</link>
<description>
Before you decide to unreconcile previously-reconciled transactions, or undo an entire reconciliation, there are several things to consider. The root cause can often be fixed without undoing a reconcile. You can troubleshoot a reconcile when the opening balance is correct or you can&nbsp;make your statement match your reconcile opening balance. Manually editing the reconcile status of transactions may not reveal the root cause of the problem you’re trying to solve, and may even create more problems than you had set out to solve. Manually undoing a reconcile can change the sum of all your reconciled transactions, known as the reconcile opening balance. To prevent issues with your balances, it's best to consult your accounting professional. If you still feel that unreconciling a previously-reconciled transaction, or undoing a reconciliation will help, the following sections provide some guidance. Undo an entire reconciliation To undo an entire reconciliation, you must manually edit each transaction. You can use your reconciliation report or bank statement to identify the transactions you need to edit. Note: If you created an adjustment entry, you’ll need to find and delete that adjustment entry as well. If you have too many transactions to edit and you're connected to an accountant i...
</description>
<pubDate>Tue, 20 Aug 2019 20:31:49 GMT</pubDate>
<guid>
https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/how-to-unreconcile-a-transaction-or-undo-a-reconciliation/01/263019#M27
</guid>
<dc:creator>QuickBooksHelp</dc:creator>
<dc:date>2019-08-20T20:31:49Z</dc:date>
</item>
<item>
<title>
Undo your client’s reconciliations with QuickBooks Online Accountant
</title>
<link>
https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/undo-your-client-s-reconciliations-with-quickbooks-online/01/263211#M26
</link>
<description>
Learn how to undo reconciliations for your clients. This is only available for QuickBooks Online Accountant. As a ProAdvisor or QuickBooks Online Accountant user, you have a special reconciliation tool. If one of your clients needs to edit several transactions on a past reconciliation, it’s sometimes best to start over from the beginning. Follow these steps to undo the entire reconciliation and get a fresh start. Alternatively, you can also edit individual transactions on a reconciliation. How to undo a reconciliation Important: This is a powerful tool. Be careful editing older reconciliations. Undoing a reconciliation also undoes all following reconciliations after the Reconciled on date. If your client reconciles their transaction account every month and you undo a reconciliation from three months ago, you’ll also undo the following two months. Sign in to QuickBooks Online Accountant. Go to your Clients list. Find your customer and open their QuickBooks Online account. Now that you’re in their company file: Go to the Accounting menu. Select the Reconcile tab. Select History by account. Select the account you want to reconcile and date range from the drop-down menus. Find the reconciliation on the list. If you haven’t already, select View report to open the Reconciliation Rep...
</description>
<pubDate>Mon, 09 Sep 2019 07:10:19 GMT</pubDate>
<guid>
https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/undo-your-client-s-reconciliations-with-quickbooks-online/01/263211#M26
</guid>
<dc:creator>QuickBooksHelp</dc:creator>
<dc:date>2019-09-09T07:10:19Z</dc:date>
</item>
<item>
<title>Sort and filter transactions in a register</title>
<link>
https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/sort-and-filter-transactions-in-a-register/01/263034#M25
</link>
<description>
Learn how to sort or filter a register in QuickBooks Online. Do you want to sort or filter a register? A register (or account history) lists all of the transactions for an account. We show you how to sort and filter a register. Note Some registers, such as Accounts Receivable and Accounts Payable, can only be sorted by Date. Sort transactions By default register transactions are listed by most recent date. However, you&nbsp;can sort most registers using the following criteria. Date: Sorts the list by transaction date Ref no:&nbsp;Sorts the list by the transaction reference number Type: Sorts by type of transaction Payment: Sorts by the amount of the payment Deposit: Sorts by the deposit amount Reconcile Status: Sorts by the reconciliation status of the transaction To check whether you can sort by the values in a column, hover over the column header. If an up or down arrow appears, you can sort by that column. To add or remove columns, select the Gear icon above the Balance column and select or clear the checkboxes of the columns to add or remove. The Balance column only displays a balance amount when the register is sorted by Date or by Reconcile Status.&nbsp;If you sort by any other column, the Balance column displays N/A. Filter transactions You can apply filters to reduce the number of tr...
</description>
<pubDate>Thu, 18 Jul 2019 18:49:19 GMT</pubDate>
<guid>
https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/sort-and-filter-transactions-in-a-register/01/263034#M25
</guid>
<dc:creator>QuickBooksHelp</dc:creator>
<dc:date>2019-07-18T18:49:19Z</dc:date>
</item>
<item>
<title>FAQ: Basic troubleshooting for balance sheets</title>
<link>
https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/faq-basic-troubleshooting-for-balance-sheets/01/263050#M24
</link>
<description>
If you're having problems with your Balance Sheet, there are easy troubleshooting steps to take to resolve common Balance Sheet issues. How do I remove deleted items on my Balance Sheet? The deleted items on your Balance Sheet are transactions associated with a deleted account. Removing deleted items on your Balance Sheet can be done in three steps: Step 1: Undelete the account. Step 2: Move the Transactions (Option 1) or Delete the Transactions (Option 2). Step 3: Re-delete the account. Step 1: How to Undelete the account From the left menu, select Accounting and choose Chart of Accounts. Above the Action column, select the small gear icon, then check Include inactive. Find the deleted account, then in the Action column, select Make active. Step 2: How to move the transactions or delete the transactions (choose one of the two options) (Option 1) How to move the transactions: Find the account you just undeleted. From the Action column drop-down menu, select Edit. In the Name field, rename the account to match the name of an existing account you want to move the transactions to. Select Save and Close, then Yes to confirm the merge. (Option 2) How to delete the transactions: Go to Settings ⚙. Under Your Company, select&nbsp;Chart of Accounts. Find the account you just undeleted, then...
</description>
<pubDate>Thu, 18 Jul 2019 16:23:18 GMT</pubDate>
<guid>
https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/faq-basic-troubleshooting-for-balance-sheets/01/263050#M24
</guid>
<dc:creator>QuickBooksHelp</dc:creator>
<dc:date>2019-07-18T16:23:18Z</dc:date>
</item>
<item>
<title>Resolve reconciliation differences</title>
<link>
https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/resolve-reconciliation-differences/01/263057#M23
</link>
<description>
Sometimes, when you reconcile your accounts, it can be difficult to get the&nbsp;difference to equal zero. Use the expert tips in the following sections to help you hunt&nbsp;down tricky transactions. Account mismatches Check to make sure that the account you selected when you started the reconciliation is correct. This is an easy mistake to make, especially if you have multiple accounts with the same bank. To ensure you're reconciling the correct account: Select Accounting, then Reconcile. Check that the name of the account you're reconciling, listed at the top of the Reconcile page, is correct. If it isn't the right account, select Close without saving from the&nbsp;Save for later&nbsp;▼ drop-down menu. Confirm that you want to close without saving. Select the correct account from the Account ▼ drop-down menu. Enter the statement&nbsp;Ending balance and&nbsp;Ending date. Select Start reconciling. The Reconcile page displays the correct account. Statement information mismatches Make sure the statement information you entered at the beginning of the reconciliation is correct. On the Reconcile page, select Edit info. In the Edit the information from your statement panel, verify that the Ending balance and Ending date information matches the information from your statement. Make any necessary changes to the ...
</description>
<pubDate>Tue, 10 Sep 2019 21:06:53 GMT</pubDate>
<guid>
https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/resolve-reconciliation-differences/01/263057#M23
</guid>
<dc:creator>QuickBooksHelp</dc:creator>
<dc:date>2019-09-10T21:06:53Z</dc:date>
</item>
<item>
<title>
Interest or bank charge shows up twice when reconciling and in the register
</title>
<link>
https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/interest-or-bank-charge-shows-up-twice-when-reconciling-and-in/01/263071#M22
</link>
<description>
Learn how to fix bank fees or interest income which appears both as payment and deposit in the register or when reconciling in QuickBooks Online. This happens if the bank account is incorrectly assigned twice (as both the debit the credit account) to a bank fee or interest income entry. Here's a quick guide to fix the error by re-categorising the bank fee as an expense, and the bank interest as income on the Reconcile screen or Bank Register. Fix duplicates on the Reconcile screen Go to Settings ⚙, then select Reconcile. From the Account ▼ drop-down, choose the appropriate bank account. Select Resume reconciling. Select the bank fee or interest income, then Edit. Correct the entry. Bank fee entry - In the Account column, change the account from Bank to the Expense account you use for bank fees. Interest income entry - Go to Add funds to this deposit section. Under the Account column, change the account from Bank to the Income account you use for bank interest. Select Save and close or Save and new. Fix duplicates on the Bank Register screen Go to Settings ⚙, then select Chart of Accounts. Look for the bank you've reconciling, then select Account history. Select the Filter ▼ drop-down next to All. From the Reconcile status ▼ drop-down, select Not reconciled. Select Apply. Selec...
</description>
<pubDate>Tue, 27 Aug 2019 20:45:34 GMT</pubDate>
<guid>
https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/interest-or-bank-charge-shows-up-twice-when-reconciling-and-in/01/263071#M22
</guid>
<dc:creator>QuickBooksHelp</dc:creator>
<dc:date>2019-08-27T20:45:34Z</dc:date>
</item>
<item>
<title>Edit an incorrect opening balance</title>
<link>
https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/edit-an-incorrect-opening-balance/01/263079#M21
</link>
<description>
If the opening balance for one of your accounts is wrong, you can edit it through the Account history for the account. To edit a wrong&nbsp;opening balance: Go to Settings ⚙️, then select Chart of Accounts. Locate the account, then go to the Action column and select Account history. Find the opening balance entry. Tip: If you've got the Date column sorted from newest to oldest, the opening balance entry may be at the end of the list. Select the opening balance entry. Edit the amount. Tip: If you're not able to edit the amount directly on this screen, in some cases you can edit by selecting the Edit ✎ icon. Select Save.&nbsp;Your change will not be saved if you navigate away from the register without saving. If there isn't already an opening balance listed and you want to enter one, see&nbsp;How to enter an opening balance for an existing account. If you're trying to edit an opening balance when reconciling an account in QuickBooks Online with your bank or credit card statement, see&nbsp;Fix an opening balance to match a bank statement.
</description>
<pubDate>Tue, 27 Aug 2019 16:39:49 GMT</pubDate>
<guid>
https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/edit-an-incorrect-opening-balance/01/263079#M21
</guid>
<dc:creator>QuickBooksHelp</dc:creator>
<dc:date>2019-08-27T16:39:49Z</dc:date>
</item>
<item>
<title>Reconcile hub</title>
<link>
https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/reconcile-hub/01/263101#M20
</link>
<description>
When you reconcile an account, you compare&nbsp;the beginning balance and transactions listed in your QuickBooks Online company file with your monthly bank or credit card statements to make sure they match. Reconciling verifies that QuickBooks Online agrees with your bank or credit card statement. The following help articles cover everything you need to know about reconciling in QuickBooks Online. Review the links below to help with your reconciliation. General information The following help articles give you general information about reconciling: About reconciling How to reconcile an account How to adjust a reconciliation About year-end reconciliation Troubleshooting The following help articles can help you to resolve issues you may encounter while reconciling: How to troubleshoot a reconciliation with a correct opening balance How to make an incorrect reconcile beginning balance match the bank statement How to fix duplicate interest or bank charges when reconciling or in the bank register Reports Review the following for information about reports: How to view, print or export a current or previous reconciliation report Undo a reconciliation Review the following for help with undoing a reconciliation: How to unreconcile a transaction or undo a reconciliation
</description>
<pubDate>Fri, 23 Aug 2019 21:09:05 GMT</pubDate>
<guid>
https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/reconcile-hub/01/263101#M20
</guid>
<dc:creator>QuickBooksHelp</dc:creator>
<dc:date>2019-08-23T21:09:05Z</dc:date>
</item>
<item>
<title>
How do I view, print, or export a reconciliation report?
</title>
<link>
https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/how-do-i-view-print-or-export-a-reconciliation-report/01/263117#M19
</link>
<description>
Each time you finish reconciling, QuickBooks Online automatically generates a reconciliation report for that session. The reconciliation report is useful if you have trouble reconciling the following month and when you meet with your accountant. The reconciliation report summarises the following: Beginning and ending balances. Lists which transactions were cleared and which were left uncleared when you reconciled. Note:&nbsp;QuickBooks Online automatically generates a new reconciliation report even if you reconcile the account for the same month. How to view a reconciliation report From the left menu, go to&nbsp;Reports. Type&nbsp;Reconciliation Report&nbsp;in the&nbsp;Find report by name search bar. Select&nbsp;Reconciliation Reports. Select the Account for the reconciliation report you want to view. From the Report perioddrop-down arrow, choose the reconcile period. Select View&nbsp;Report. How to print a reconciliation report To print, select the Print icon in the upper right of the report. How to export a reconciliation report to Excel The Reconciliation report in QuickBooks Online is one of the few reports that can't be directly exported to Excel. To manually export this data, do the following: Highlight the information on the report. Right-click and copy the information. Open Excel and right-click and pas...
</description>
<pubDate>Thu, 18 Jul 2019 16:22:56 GMT</pubDate>
<guid>
https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/how-do-i-view-print-or-export-a-reconciliation-report/01/263117#M19
</guid>
<dc:creator>QuickBooksHelp</dc:creator>
<dc:date>2019-07-18T16:22:56Z</dc:date>
</item>
<item>
<title>
How to view details for missing reconciliation reports or reconciled transactions
</title>
<link>
https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/how-to-view-details-for-missing-reconciliation-reports-or/01/263122#M18
</link>
<description>
If a previously-reconciled transaction is no longer marked as reconciled, or if a reconciliation report is missing, one of the following may have occurred: An Accountant user used the Undo Reconcile tool, changing the reconciliation status of the transactions within the reconciled period and removing the corresponding reconciliation report. Note: Only an Accountant user can undo a reconciliation. The reconciled account was merged with another account, removing the reconciliation report without changing the reconciliation status of the transactions within the reconciled period. You can find who made changes to your reconciliation reports or transactions from the Audit Log. View changes to reconciliation reports You can check the Audit Log to find who undid a reconciled transaction or report. Go to Settings ⚙. Under Tools, select Audit Log. Select the Filter button. Under Events, choose Reconciliations. Select Apply. The Audit Log displays a history of all changes made to your reconciliation reports, along with user information for each change. View changes to individual reconciled transactions Go to Settings ⚙. Under Tools, select Audit Log. Select the Filter button. Under Events, choose Reconciliations. Select Apply. Locate and select the transaction to open it. Select More, a...
</description>
<pubDate>Thu, 18 Jul 2019 13:56:32 GMT</pubDate>
<guid>
https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/how-to-view-details-for-missing-reconciliation-reports-or/01/263122#M18
</guid>
<dc:creator>QuickBooksHelp</dc:creator>
<dc:date>2019-07-18T13:56:32Z</dc:date>
</item>
<item>
<title>How to adjust a reconciliation</title>
<link>
https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/how-to-adjust-a-reconciliation/01/263136#M17
</link>
<description>
When reconciling, if the difference is not zero when you are finished, but the amount isn't off by very much, you have the option to make an adjusting entry. Taking hours to find amounts that are off by a few pennies doesn't make much sense. Warning&nbsp; Adjusting entries should be made only as a last resort for small amounts. Making adjusting entries for substantial amounts may create serious issues in the future. We recommend that you ask your accountant before making any adjustments. How adjusting entries impact accounts If the difference after reconciling is a negative number, create a cheque transaction, without a cheque number, which will reduce your bank account and your&nbsp;Opening Balance Equity account by that amount. If the difference after reconciling is a positive number, you'll create a deposit transaction, increasing your bank account and your Opening Balance Equity account by that amount. These adjustments affect only your Balance Sheet, not your Profit &amp; Loss. For more information about what to do if your reconciliation is wrong, see troubleshooting your reconciliation. Enter an adjusting entry From the left menu, select Accounting, and choose Reconcile. Reconcile your account. Select Finish now from the drop-down menu. Confirm the Adjustment date. Select Add adjustme...
</description>
<pubDate>Thu, 18 Jul 2019 15:33:28 GMT</pubDate>
<guid>
https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/how-to-adjust-a-reconciliation/01/263136#M17
</guid>
<dc:creator>QuickBooksHelp</dc:creator>
<dc:date>2019-07-18T15:33:28Z</dc:date>
</item>
<item>
<title>Close your books to lock past transactions</title>
<link>
https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/close-your-books-to-lock-past-transactions/01/263156#M16
</link>
<description>
Learn how to close your books in QuickBooks Online. Closing your books means locking everything entered before the closing date. This is an important step to ensuring everything stays the way you want it to. Closing your books prevents any accidental changes that could affect your reports. Here's how to close your books. Close your books Before you start Sign in to QuickBooks Online as a master admin or company admin. Review your books and make sure everything looks good.&nbsp;Here are a few things you can review: Enter any outstanding&nbsp;invoices, expenses, and payments. Reconcile your accounts up to your closing date. Close your books Go to Settings ⚙ and then select Accounts and Settings. Select the Advanced tab. Select Edit ✎ in the Accounting section. Select the Close the books checkbox. Enter a closing date. Give yourself a comfortable deadline. You shouldn't need to edit any transactions before this date. Your new bookkeeping work will start after this point. Select the Allow changes after viewing a warning and entering a password option from the drop-down menu if you want to require a password before editing your closed books. Select Save and then Done. Next steps: Review your closed books Get ready for year-end and check out our Year-end guide and checklist in QuickBooks Online.
</description>
<pubDate>Fri, 06 Sep 2019 23:14:47 GMT</pubDate>
<guid>
https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/close-your-books-to-lock-past-transactions/01/263156#M16
</guid>
<dc:creator>QuickBooksHelp</dc:creator>
<dc:date>2019-09-06T23:14:47Z</dc:date>
</item>
<item>
<title>FAQ for EOFY</title>
<link>
https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/faq-for-eofy/01/263179#M15
</link>
<description>
Need help this EOFY? Are you starting FY19 in QuickBooks Online? We've got you covered, we've compiled a&nbsp; resource hub to help you with Payment Summaries, End of year reconciliation, completing you BAS, for new users you'll find helpful resources to get you started. Year-End Guide EOFY Checklist Single Touch Payroll FAQs How to setup Single Touch Payroll Payment Summaries and QuickBooks Online GST FAQS Lodging BAS and IAS How to setup GST in QuickBooks Online? Recording a GST refund Where do W1 and W2 amounts come from on the BAS report? How do I delete a GST Payment? How to I set up a default tax rate for transactions How do I add a group tax rate? How do I turn off GST GST Centre - Chart of Accounts and Lodgement Journal Overview GST Settings Overview Payroll Single Touch Payroll FAQs How to enable STP Payment Summaries and QuickBooks Online Payroll EOFY Guide Setting opening balances for payroll PAYG Payment summary information - ATO Generating&nbsp;Emdupe file SBR Lodgement Super stream compliance Reconciliation FAQS Reconcile an account Undo a reconciliation in QBOA All about reconciling: links and troubleshooting Opening balance is wrong Closing Books Basics Closing the books How to change the closing date password Reports Queries What's Unapplied Cash Payment? How to create ...
</description>
<pubDate>Thu, 18 Jul 2019 17:09:38 GMT</pubDate>
<guid>
https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/faq-for-eofy/01/263179#M15
</guid>
<dc:creator>QuickBooksHelp</dc:creator>
<dc:date>2019-07-18T17:09:38Z</dc:date>
</item>
<item>
<title>What are account registers in QuickBooks?</title>
<link>
https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/what-are-account-registers-in-quickbooks/01/263198#M14
</link>
<description>
Learn what bank registers and account registers are and what you can do with them. QuickBooks uses account registers to keep track of your transactions. They list all of your transactions and the account's current balance. Imagine your account register as a running history of the account. Learn how account registers work Account registers let you dig into the details. You can go into a register and get a detailed, transaction-level history of the account.&nbsp;This is also where you can make edits to individual transactions. Account registers are usually used by accountants and those who want to review the details. You can: See all the transactions in an account Edit, delete, or void transactions Filter accounts to find specific types of transactions Reconcile individual transactions Review reconciliation adjustments Note: The terms “bank register” and “account register” refer to the same thing. Reviewing your register regularly will help you can catch errors and&nbsp;make your reconciliations much easier. Most accounts have a register. Here are a few account registers you may want to review: Bank Credit Card Fixed Assets Other Fixed Assets Other Current Assets Long-term Liabilities Other Current Liabilities Equity (except for retained earnings) *You can't make direct edits to your Acco...
</description>
<pubDate>Sat, 07 Sep 2019 00:52:47 GMT</pubDate>
<guid>
https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/what-are-account-registers-in-quickbooks/01/263198#M14
</guid>
<dc:creator>QuickBooksHelp</dc:creator>
<dc:date>2019-09-07T00:52:47Z</dc:date>
</item>
<item>
<title>
Troubleshoot reconcile when opening balance is correct
</title>
<link>
https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/troubleshoot-reconcile-when-opening-balance-is-correct/01/263206#M13
</link>
<description>
If you're having an issue with account reconciliation and your opening balance is correct, this article is designed to help you identify the cause. For help with reconciling when your opening balance is not correct, see Make an incorrect reconcile opening balance match the bank statement. Opening balance is correct with unreconciled historical transactions in register If you have unreconciled transactions from previous periods in QuickBooks Online which have appeared on your bank statement in the past but your opening balance matches, then one or more of these old transactions have already been accounted for (duplicated and marked with an R). You need to identify the transactions to fix this issue: Go to the&nbsp;Settings ⚙&nbsp;icon. Under Tools, select&nbsp;Reconcile. Note the opening balance. Select Settings&nbsp;⚙️. Select Chart of Accounts. Select the account you're trying to reconcile. From the Action column drop-down menu, select&nbsp;Run Report. Select Customise. Set the Report period to All Dates. Apply the following filters: For QuickBooks Online Plus or Essentials: In the Rows/Columns section, select Change Columns, then&nbsp;select&nbsp;the Last Modified&nbsp;checkbox. In the Filter section, select the Cleared checkbox and select&nbsp;Reconciled from the drop-down list. For QuickBooks Online Simple Start: Sel...
</description>
<pubDate>Fri, 23 Aug 2019 21:09:07 GMT</pubDate>
<guid>
https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/troubleshoot-reconcile-when-opening-balance-is-correct/01/263206#M13
</guid>
<dc:creator>QuickBooksHelp</dc:creator>
<dc:date>2019-08-23T21:09:07Z</dc:date>
</item>
<item>
<title>Change the opening balance of a bank account</title>
<link>
https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/change-the-opening-balance-of-a-bank-account/01/263219#M12
</link>
<description>
Learn how to change your opening balance in QuickBooks Online. Here are some of the reasons why you might need to change the opening balance of your account: To correct an erroneous opening balance To enter an opening balance for an account set up without one To change an opening balance when adding historical transactions to an account We'll show you how to update your account's opening balance so you're confident that your books are accurate and up-to-date. Warning: Talk to your accountant before following any of the steps in the following sections. Change the account opening balance To change or update the opening balance for an account: Go to Settings ⚙️, then select Chart of Accounts. Locate the account. From the Actioncolumn ▼ drop-down menu, select Run Report. From the Report period ▼ drop-down menu, select All Dates. Select Run report. Select the earliest deposit posted that is noted as Opening Balance in Memo/Description field to open the Bank Deposit window. Enter the new opening balance date in the Date field. Go to Add funds to this deposit, then enter the new opening balance in the Amount column for the Opening Balance Equity entry. Select Save and close. Enter an opening balance for an existing account If you did not enter an opening balance when you set up an ac...
</description>
<pubDate>Tue, 10 Sep 2019 19:56:50 GMT</pubDate>
<guid>
https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/change-the-opening-balance-of-a-bank-account/01/263219#M12
</guid>
<dc:creator>QuickBooksHelp</dc:creator>
<dc:date>2019-09-10T19:56:50Z</dc:date>
</item>
<item>
<title>Enter a beginning balance for an existing account</title>
<link>
https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/enter-a-beginning-balance-for-an-existing-account/01/263250#M11
</link>
<description>
You can easily enter an opening balance for an existing account by creating a journal entry to offset the opening balance equity. For assets and expense accounts, QuickBooks Online debits the new account and then credits the Opening Balance Equity account. For liabilities, equity, and income accounts, QuickBooks Online credits the account and then debits the Opening Balance Equity account. For accounts with a register, once you have entered the beginning balance, you need to mark the transaction as reconciled. Enter an opening balance journal entry To enter an opening balance journal entry: Select&nbsp;Create ⨁. Under Other, select Journal Entry. Enter the Journal date. On the first line, specify the Account to enter the opening balance for. Enter the opening balance amount in either the Debit or Credit column, depending on the account type. For assets and expense accounts, enter the opening balance amount in the Debit column. For liabilities, equity, and income accounts, enter the opening balance amount in the Credit column. In the Name field, specify one of the following, depending on your entry in the Account column: Specify a Customer name if you selected Accounts Receivable/Debtors Specify a Supplier name if you selected Accounts Payable/Creditors On the next line, select the ...
</description>
<pubDate>Thu, 12 Sep 2019 20:07:59 GMT</pubDate>
<guid>
https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/enter-a-beginning-balance-for-an-existing-account/01/263250#M11
</guid>
<dc:creator>QuickBooksHelp</dc:creator>
<dc:date>2019-09-12T20:07:59Z</dc:date>
</item>
<item>
<title>
Resolving duplicate transactions in your Chart of Accounts [Video]
</title>
<link>
https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/resolving-duplicate-transactions-in-your-chart-of-accounts-video/01/262667#M10
</link>
<description>
Is there a discrepancy in your account balance due to a duplicated transaction? this can be removed from with the Chart of Account Click&nbsp;Accounting&nbsp;in the left hand menu In the Action column select&nbsp;Account History&nbsp;for the account with the duplicate transaction/s Click on the transaction you wish to delete Click&nbsp;Delete Repeat steps for any other transactions you wish to remove Note: Transactions with green boxes in the&nbsp;✔ column came from your bank feed.
</description>
<pubDate>Thu, 18 Jul 2019 14:43:21 GMT</pubDate>
<guid>
https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/resolving-duplicate-transactions-in-your-chart-of-accounts-video/01/262667#M10
</guid>
<dc:creator>QuickBooksHelp</dc:creator>
<dc:date>2019-07-18T14:43:21Z</dc:date>
</item>
<item>
<title>Edit an incorrect opening balance [Video]</title>
<link>
https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/edit-an-incorrect-opening-balance-video/01/262614#M9
</link>
<description>
If the opening balance for one of your accounts is wrong, you can edit it through the Register (or Account history) for the account. To edit a wrong&nbsp;opening balance: Select the&nbsp;Gear icon&nbsp;at the top, then&nbsp;Chart of Accounts. Locate the account, then go to the&nbsp;Action&nbsp;column and select&nbsp;View register (or&nbsp;Account history). Find the opening balance entry. Tip:&nbsp;If you've got the&nbsp;Date&nbsp;column sorted from newest to oldest, the opening balance entry is likely at the bottom or end of the list. Select the opening balance entry once you've located it. Edit the amount. Tip:&nbsp;If you're not able to edit the amount directly on this screen, in some cases you can edit by selecting the&nbsp;Edit&nbsp;button. Select&nbsp;Save.&nbsp;Note that the change will not be saved if you navigate away from the register without saving. If there isn't already an opening balance listed and you want to enter one, see&nbsp;How do I enter a beginning balance for an account after it has been set up? If you're trying to edit an opening balance when reconciling an account in QuickBooks Online with your bank or credit card statement, see&nbsp;My reconcile opening balance is wrong. How do I make it match my statement?
</description>
<pubDate>Thu, 18 Jul 2019 13:55:28 GMT</pubDate>
<guid>
https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/edit-an-incorrect-opening-balance-video/01/262614#M9
</guid>
<dc:creator>QuickBooksHelp</dc:creator>
<dc:date>2019-07-18T13:55:28Z</dc:date>
</item>
<item>
<title>Year-end guide and checklist</title>
<link>
https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/year-end-guide-and-checklist/01/263221#M8
</link>
<description>
As the end of the year approaches, you and your accountant will need to complete certain tasks in QuickBooks Online to close out the old year and prepare for the new one. The following sections can help guide you through these year-end tasks to make the ending of one year and the beginning of another easier. Task 1: Confirm the first month of your financial year It's important to ensure that the correct month is selected for the start of your financial year to allow QuickBooks Online to clear accounting ledgers behind the scenes while you work on other year-end activities. To confirm or change the first month of your financial year: Go to the&nbsp;Settings ⚙&nbsp;icon. Select Account and Settings. Select Advanced. In the&nbsp;Accounting section, verify that the setting in the First month of financial year field is correct, or select&nbsp;the pencil (edit) icon to change the setting. Select Save. Select Done. Your financial year is confirmed. Task 2: Confirm customer account balances, send statements, and clear&nbsp;any&nbsp;outstanding deposits At the end of the year, it's a good idea to ensure your client base has up to date account balances and that&nbsp;billing and&nbsp;payments are all up to date. To check customer account balances: From the left menu, select&nbsp;Reports. In the search bar, enter Accounts Receivable...
</description>
<pubDate>Mon, 26 Aug 2019 19:25:58 GMT</pubDate>
<guid>
https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/year-end-guide-and-checklist/01/263221#M8
</guid>
<dc:creator>QuickBooksHelp</dc:creator>
<dc:date>2019-08-26T19:25:58Z</dc:date>
</item>
<item>
<title>Fix an opening balance to match a bank statement</title>
<link>
https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/fix-an-opening-balance-to-match-a-bank-statement/01/263130#M7
</link>
<description>
Learn how to update an opening balance to match a bank statement. Are the beginning balances for your QuickBooks Online account and bank statement mismatched? If so, you need to resolve these before you can reconcile your accounts. Depending on the situation there's a variety of solutions. We explain them in the sections below. For more information on beginning balances: see Why doesn't my QuickBooks Online beginning balance match my statement? Check balance for new or never-reconciled accounts If you have a new, never reconciled or bank feed account, check the beginning balance. Not sure if the account has been reconciled? Look under the&nbsp;Ending date&nbsp;field for the&nbsp;Last&nbsp;statement ending date. If there isn't one, this account hasn't been reconciled before. Go to the&nbsp;Settings ⚙&nbsp;icon. Select Chart of Accounts. Locate the account in the Chart of Accounts. From the Action column, select Account history. Check the account's opening balance. If it's incorrect, you'll need to edit it. If there isn't one, you'll need to enter it. Check bank feed accounts First, check the account history for downloaded transactions that cleared the bank before the statement's start date. Delete these transactions to correct the beginning balance. When you connect your bank, it automatically records a beg...
</description>
<pubDate>Mon, 09 Sep 2019 21:11:34 GMT</pubDate>
<guid>
https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/fix-an-opening-balance-to-match-a-bank-statement/01/263130#M7
</guid>
<dc:creator>QuickBooksHelp</dc:creator>
<dc:date>2019-09-09T21:11:34Z</dc:date>
</item>
<item>
<title>Remove accounts you no longer use</title>
<link>
https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/remove-accounts-you-no-longer-use/01/263129#M6
</link>
<description>
Learn how to hide accounts you no longer need in QuickBooks Online. Keep your chart of accounts organised. If you have income or expense accounts you no longer use, you can make them inactive. This hides the accounts from the Chart of Accounts tab and other places where you can choose accounts. If the accounts have transactions, don’t worry. QuickBooks keeps them so your reports and tax forms remain accurate. Make an account inactive Tip: If you want to disconnect your bank, PayPal, or credit card and stop auto-download of transactions, use these steps instead. Go to Settings ⚙ and select Chart of Accounts. Find the account you want to hide. Select the small arrow ▼ in the ACTION column. Then select Make inactive. To check the accounts you made inactive in the Chart of Accounts tab: Select Settings ⚙ above the Action column, then select Include inactive. If you need to make an account register inactive Examples of accounts with registers are bank, credit card, asset, liability, and equity accounts. If a register doesn’t have any transactions yet, it’s ok to make it inactive. But there’s usually no reason to do so if it has transactions. If you make a register with transactions inactive, QuickBooks will create an adjustment entry to zero out that register’s balance. This adjust...
</description>
<pubDate>Sat, 07 Sep 2019 00:52:49 GMT</pubDate>
<guid>
https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/remove-accounts-you-no-longer-use/01/263129#M6
</guid>
<dc:creator>QuickBooksHelp</dc:creator>
<dc:date>2019-09-07T00:52:49Z</dc:date>
</item>
<item>
<title>Reconcile accounts</title>
<link>
https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/reconcile-accounts/01/263148#M5
</link>
<description>
When you reconcile an account, you compare&nbsp;the beginning balance and transactions listed in your QuickBooks Online company file with your monthly bank or credit card statements to make sure they match. You know your bank and your books agree when the difference between them is $0.00. Learn more about the rewards of reconciliation. We recommend that you reconcile your account when you receive each period's statement. However, if you've never reconciled, or you haven't been doing it regularly, you can still follow these steps to reconcile your accounts. Begin with the oldest bank statement,&nbsp;and reconcile month-by-month up to the most recent statement. The further back you start, the more likely you are to uncover errors and discrepancies. If you've reconciled at some time in the past year, you need to start from that point and move forward,&nbsp;reconciling against each statement, one after the other, in order, up to the most recent statement. Note: On average, manual reconciliations can take up to an hour. If you connect your bank to QuickBooks Online, it usually takes less than 10 minutes. Set up the reconciliation Go to Settings ⚙️. Select&nbsp;Reconcile. From the Account ▼ drop-down menu, select the appropriate bank account. Depending on the type of account, different statement inform...
</description>
<pubDate>Tue, 10 Sep 2019 17:01:13 GMT</pubDate>
<guid>
https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/reconcile-accounts/01/263148#M5
</guid>
<dc:creator>QuickBooksHelp</dc:creator>
<dc:date>2019-09-10T17:01:13Z</dc:date>
</item>
<item>
<title>Avoid undoing a reconciliation</title>
<link>
https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/avoid-undoing-a-reconciliation/01/262678#M4
</link>
<description>
If you're connected to an accountant in QuickBooks Online, your accountant can undo or delete completed reconciliations. But you may not need to do this and lose all your reconciliation work. Try these tips before you ask your accountant to undo a reconcile If your statement beginning balance doesn't match what you have in QuickBooks Online, you don't have to delete or undo the reconciliation. Instead, see fix an incorrect&nbsp;beginning balance. When you're reconciling,&nbsp;see how do I reconcile an account if you can't get the difference between your bank and books to equal zero. If it makes sense to start over with a reconciliation or undo a completed reconciliation, try one of these options Restart the process of selecting transactions If the best plan is to start selecting transactions again: Use the Filter icon to hide transactions after the statement ending date. This is the default setting so the filter may already be set. Select the&nbsp;checkbox at the top of the checkbox column until you remove all the ticks. Check the beginning balance on the statement to make sure it matches what you have in QuickBooks Online.&nbsp;If the beginning balance doesn't match, see fix an incorrect&nbsp;beginning balance. Double-check the statement information you entered when you started reconciling. If it isn...
</description>
<pubDate>Thu, 18 Jul 2019 13:53:46 GMT</pubDate>
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<dc:creator>QuickBooksHelp</dc:creator>
<dc:date>2019-07-18T13:53:46Z</dc:date>
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<title>
How to enter an opening balance for a Chart of Account [VIDEO]
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https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/how-to-enter-an-opening-balance-for-a-chart-of-account-video/01/262595#M3
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Below is a short video of how to enter an opening balance for a Chart of Account in QuickBooks Online How to enter an opening balance for a Chart of Account&nbsp;
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<pubDate>Thu, 18 Jul 2019 14:45:57 GMT</pubDate>
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<dc:creator>QuickBooksHelp</dc:creator>
<dc:date>2019-07-18T14:45:57Z</dc:date>
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<title>
How to edit an opening balance for a Chart of Account [VIDEO]
</title>
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https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/how-to-edit-an-opening-balance-for-a-chart-of-account-video/01/262592#M2
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<description>
Below is a short video on how to edit an opening balance for a Chart of Account in QuickBooks Online How to edit an opening balance for a Chart of Account&nbsp;
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<pubDate>Thu, 18 Jul 2019 14:42:53 GMT</pubDate>
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<dc:creator>QuickBooksHelp</dc:creator>
<dc:date>2019-07-18T14:42:53Z</dc:date>
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<title>Delete Chart of Account [VIDEO]</title>
<link>
https://quickbooks.intuit.com/learn-support/en-au/eofy-and-reconciliation/delete-chart-of-account-video/01/262591#M1
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<description>
Below is a short video on how to delete a Chart of Account in QuickBooks Online How to delete a Chart of Account
</description>
<pubDate>Thu, 18 Jul 2019 15:30:57 GMT</pubDate>
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<dc:date>2019-07-18T15:30:57Z</dc:date>
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