Linda Artesani shows how to fix bank reconciliation problems in QuickBooks Online. Use the "See what's changed" feature to catch altered transactions, or undo a full reconciliation by removing the "R" flag from transactions in the check register. ProAdvisors can use the Undo button instead.
Chapters
Hello there, Linda Artesani, Artesani Bookkeeping. I wanted to do a little, little tutorial to show you how to fix bank reconciliation errors, something maybe a changed transaction after a particular reconciliation has been processed, and how to undo a bank rec if you need to as a last resort. So we're in the sample file here, Larry's Landscaping— I'm sorry, it's Craig's. Oh, that just dated me. Craig's Landscaping and Design. Design and Landscaping. And you're coming in here to reconcile and you see this— what's this $30 under the changes? So you can come in here and select this, and I can go in to see what's changed. So the first step is to click on to see what's changed. And you may have several or multiple changes here if someone made changes. And you can see here that when it was originally reconciled, the original amount was $5,455, and then someone came in and changed the amount to $2,455. and that changed the bank rec. So if I were to come into the bank reconciliation, my ending balance when I finished in February was $4,570.45, so that should be my beginning balance. But if I come in here to reconcile, you will see that my beginning balance is off by that $30. So I won't be able to reconcile the next month because of that difference. The easiest way to fix an issue like this is to actually come into this transaction See the changes, see that it was $30, that it should be $54.55, and just click on this, change it back to $54.55, save and close it. You're going to get the warning box, which you would have gotten when you made the change as it was, and now you can see that my bank is back to where it needs to be. My ending balance is $54.55. $4,570.45, and when I click in here to do the next month, it is also $5,400— $4,570.45. So I'm okay and I'm good to go. So that's why if you ever look at a bank rec and you see this zero, then you know that somebody made a change. So let's just say that you did this bank rec and it should have said 2/28/16 and it said 17. How do I fix that? Well, you're going to need to undo the entire bank rec to restart, and it's going to leave this kind of messy line. So if you're working with a ProAdvisor, or maybe your accountant that has QuickBooks Online Accountant— this is the QuickBooks Online version that we have as ProAdvisors, and your CPA may have that as well— we have in our particular file, we have a way to just click one button that says Undo. And that will undo it completely, take the line item off, do everything for you. If you don't have access to either, the only way that you can undo this is I recommend printing the report from the last month. So there's only 2 transactions that cleared in this particular month. Checks and payments that cleared here, there were no deposits that cleared, so I just really need to undo these 2 transactions from the check register. Take off the R. So we'll go to the check register itself. I'm going to come over here to view the register, and I'm going to take off those 2 transactions that have cleared. So you come down here to see the Rs, and I know it was these 2, this $54.55 and this $2.50. So to unreconcile them, I'm just going to click the R until it's gone, say yes, and I'm going to undo the second transaction. So you may have a lot more— more transactions than this. So now if we go back to that screen that we were on before with the bank reconciliation, now it's going to show that there's 2 changes and it's quite a mess. So my ending balance here was $4,875 and this one my ending balance was $4,570.45. So if I were to come in here to reconcile it now, I'll put the 2/28 date back here. So this is me redoing my bank rec to make it correct, and I'm just gonna re-reconcile the 2 transactions. Now they're available for me to select again because they are now unreconciled because I did those unchecking of the R buttons. And now it's fixed. The problem with doing this, as you'll see, is there's now this messy line where you've got 2 reconciliations that could be avoided if you contact your CPA or ProAdvisor and just say, hey, can you just undo me and let me redo it again? So I hope that was helpful showing you how to unreconcile. If you have any questions, would like to see any further videos, please feel free to reach out to me on my Facebook page. I'll provide a link in the blog. Thank you. Bye now. Bye.
