Making Changes to Already-Reconciled Bank Accounts – Part 2

This article continues a series of articles that will deal with the fact that you have decided to make a change to an already-reconciled transaction in your QuickBooks Online bookkeeping company file.

Like Part 1 of this series, this examplescenario 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, laternext 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 (part 2) blog, we will choose one way.

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

1. Delete the original “uncategorized” deposit.
2. Now go to your Reconciliation function: Gear icon>Reconcile
3. You will now notice a warning stating “Your beginning balance is off…”
4. Now review your bank statement from the prior month (or whatever ending balance you most recently reconciled your bank account balance to).
5. Once you find that previous reconciled-to balance, then type in this same balance again into the “Statement ending balance” field.
6. Also, do not forget to type in the previously reconciled-to Statement Ending Date.
7. Click on “Start Reconciling”.
8. Now simply find that new deposit entry and select it.
9. Now your “Difference” at the top should once again be zero.
10. Complete the reconciliation process.

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.