Question

Problem Reconciling Quickbooks Bank Account reconciliation

Asked by: monacoassociates

Somehow I managed to mess up the opening balance for a checking account.

Previous month reconciliation report:  QB Opening Balance and cleared balance match statement Beginning and ending balances.

This month:  QB Opening Balance is $1000 higher than the bank statement's opening balance.  

I may have accidentally done something during the last reconciling or in the interim and I would like to fix this.

I am using Quickbooks Pro 2003.

This may not be the correct forum for this question.

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Asked On
2009-03-14 at 12:40:04ID24230710
Topic

Quickbooks Financial Software

Participating Experts
1
Points
250
Comments
3

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Answers

 

by: ajames9000Posted on 2009-03-15 at 11:43:51ID: 23892562

This is easy to fix

If you can find out the transaction you posted last month to balance your bank reconciliation for the $1000 error, you should be able to enter a separate reversing entry in the current month and then complete the bank rec as usual.  the reversal entry you entered will indirectly bring your bank rec bank into balance and the rest of the bank rec should continue to work as normal.  Do not reverse the prior period entry, just enter a new entry that corrects your problem.  

You may need to print the bank re from last month and cross reference the transactions manually against the bank statement to determine where you when wrong last month.

 

by: monacoassociatesPosted on 2009-04-08 at 17:12:35ID: 24103167

What I apparently did was to accidentally manually unclear a transaction that was reconciled from several months back and then manually reclear it.  As soon as I uncleared it, it was removed from the reconciliation log and threw our opening and ending balances out from the statement it appeared on (several months ago) forward.

To fix it, I manually uncleared it on purpose.  Then, I reconciled the latest statement and checked off the old transaction even though it did not appear on the latest statement.  This put everything back in balance and opening and ending balances now agree.  

 

by: monacoassociatesPosted on 2009-04-08 at 17:13:49ID: 31558148

This may be another way to fix the problem.  Reading this, I was more confident that I could find a reasonable way to fix the problem.

20120131-EE-VQP-002

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