Last month's account balanced and reconciled with a beginning balance of $74,746.40. This month's bank statement shows same balance. Reconciled beginning balance is different. How can this be corrected.
There is nothing problem with the quick books or your bank account , this months begining balance doesnot match because you have done something(edited) with the cleared or previously reconciled transactions which adds up to the balance and shows more. just find the old edited in the list of reconcilation and reconcile as usual. u willl be alright
- If you need clarification, ask it in the comment box above.
- Better answers use proper spelling and grammar.
- Provide details, support with references or personal experience.
Tell us some more! Your answer needs to include more details to help people.You can't post answers that contain an email address.Please enter a valid email address.The email address entered is already associated to an account.Login to postPlease use English characters only.
Tip: The max point reward for answering a question is 15.
If you are trying to reconcile to your bank balance, you should not be reviewing the "deposit detail" report.
1) Go to "Banking" then "Reconcile"
2) If the "Opening Balance" is incorrect, then close the "reconcile" window and go to "Reports" then "Banking" then "Bank Reconciliation Discrepancy" report. (This report will reveal what changed after your last successful reconciliation).
3) If the "Opening Balance" is correct, then you want to press "continue" to focus on the bottom of the window, which reveals "total deposits marked as cleared". If you have duplicates, you will see them on the right side of the screen, but the ultimate goal is to have a "Deposits Total" (in QuickBooks) that agrees with the "Deposits Total" (per Bank Statement).
The "Deposit Detail" report is a "Journal Report" to show you details of historical deposit records, Has nothing to do with "reconciling" your current bank balance.
Step 1 - Create a new bank account
Step 2 - Make the old bank account a "subaccount" of the new account
Step 3 - Reconcile the new "parent" account.
Step 4 - Merge the "subaccount" with the "Parent" account - Viola!
Write to the bank stating the situation on ground. Attach your teller in which you had deposited your money, the teller would show the date and time of depositing your money for them to be able to rectify it,
In your list of printers, you will have one installed by QB called "QuickBooks PDF Converter". Do your reconcile and when it seems to lock up, open your list of printers from the control panel and open this QB printer. There will be a document waiting to print (not sure why, it might be internal to QB). Select that document and hit the delete key. That should free QB up to continue (works for me). You may need to select it and press Delete two different times to actually remove it from the printer. Finally, because it is not easy to open up Printers every time, make a shortcut on your quick launch or desktop to the Printers applet.
The most common cause for this is that when you open the reconcile window, the account chosen is not the same account as where the tranasctions are located. Make sure of the account name you are reconciling. Also, look at the trasnactions in the register. If they have an asterisk next to them, they are indicating that they are tentatively cleared. Click on the asterisk until the box is blank. They should show in the reconcile window then. Some versions of the program would allow you clear the transactions directly in the register by placing the cleared checkmark on them. Some older versions would not accept them once this was done, and you had to completely clear the marks in order to reconcile. Also, be sure of the type of account you are trying o reconcile.
If these answers don't resolve the issue, let me know and we will see what we can do.
You actually have 2 options
You can edit the Journal Entry to change the amounts.
To unreconcile, you must enter the register for that account, go to the box that has the cleared checkmark, and click on the checkmark until the box is blank. This has to be done on each transaction for the reconcile.
Once that is completed, you can reconcile that month again.
Boy oh boy ... I thought I was behind! Is this a current question or a very old one - I cannot tell.
Normally quicken will use the last date you recondiled as the start date.
I guess you dont use the download method of reconciling? If you have WWW access on the computer where your Quiocken resides, your financial institution probably offeres this kind of service. My bank does not charge to have Quicken get the info and reconcile. And I can be as up todate as "yesterday" with this method.
I am assuming that you are reffering to a sales tax check. There are a couple of ways it can be corrected.
One is to remove the cleared checkmark from the write check in the bank account register, delete the check, and create the new check using the Pay Sales tax, then mark the new check as cleared in the register to keep the reconcile correct. The other way is to delete the second check, as the PAP suggested, and do a sales tax liability adjustment.
Either way, I HIGHLY, HIGHLY..( did I mention I REALLY suggest) you make a backup of the data first!
That way, if things go wrong, you restore the backup and you are no worse off than you are right now.