Our bank reconciliation list contains amounts posted not only to bank account, but to different accounts included in GJ transactions. If I click the button "Mark All" only the correct amounts are marked and the reconciliation is okay. However, the amounts from wrong accounts are still sitting on the list as unreconciled and if I check them manually the discrepancy is huge.
Please help me to understand what happened and how to correct that.
Thanks for reaching out to us here in the Intuit Community, NV19.
The amounts may also show to the general ledger when the posting account used for the transactions has a sub-account. Aside from that, the debit and credit accounts used in the journal entry is manually selected.
Since you haven’t reconciled the transactions, they will still show on the Reconciliation page. To rectify the issue, you’ll have to open each entry and choose the correct posting account.
You can change only one account at a time. Before performing the process, create a backup copy to avoid accidental loss.
Once done, let’s update the transactions information. Here’s how:
Choose the Banking menu at the top to select Reconcile.
On the Reconciliation page, mark the transaction you want to edit.
Double-click on it to view the complete details and take note of the accounts used.
Go to the register and then update the entries information.
From there, update the information or account used for that specific transaction.
After performing these steps, let’s go ahead and reconcile the entries.
It sounds like unreconciled bank entries were made using GJ entries, as well as using the Write Cheques, Pay Bills, or Make Deposits screens. If these unreconciled transactions are incorrect but are dated in previous periods and have been carried through reconciliations for awhile, you cannot delete them. You would just make reversing GJ entries for each of them, using the current date. The next time you reconcile, you will have equal unreconciled amounts on both sides of the reconciliation. When you check them all, the net $ effect is $0.00 and you will be rid of them on all future bank reconciliations.