Making Changes to Already-Reconciled Bank Accounts – Part 1

This article deals with the fact that you have decided to make a change to an already-reconciled transaction in your QuickBooks Online bookkeeping company file.

One scenario of this is: You previously received a deposit but did not know where these moneys came from, so you decided to post as an Uncategorized transaction (deposit) for now. Then, later next month, you received clarification regarding the purpose of these received moneys and so you created a new payment to apply to a customer’s open invoice in your bookkeeping file.

Now, in the above scenario, you now have two deposit entries, both posted for the same amount and same date in your bookkeeping file. One of these entries (the wrong one) is already marked as “reconciled’ in your bookkeeping file, and the 2^nd entry is not (so far).

There are different ways at resolving this issue, but, in this blog, we will choose one way.

The way we are going to choose involves the following steps:

1. Delete the original “uncategorized” deposit.
2. Go to your bank “register view.” To do this:  Go to Chart of accounts>Find the bank account and click on “View Register” on the far-right side.
3. Once you are in the bank register, scroll to find that 2^nd deposit you made (be sure this customer payment is still not sitting in the Undeposited Funds account; if it is then be sure to deposit this in your books).
4. Once you find this 2^nd deposit entry (and of course the first one is already deleted), then simply reconcile this transaction by clicking within the “cleared” field (it is that field that is identified by the check-mark at the top of the column identifier header).
5. Click it once to highlight it, click it again to post that little “C” within the field, then simply click it a 3^rd time to post that little “R” (for Reconciled) within this field.
6. Click Save.
7. Now the next time you go to reconcile this bank account (say for the month), you will not see this 2nd deposit in your reconciliation function screen, because you have already reconciled it.

Note: AccuraBooks is a bookkeeping firm only, so please consult with your C.P.A. for verification and clarification about the contents of this article.