Reconciliation in QuickBooks is a process that allows you to match transactions in QuickBooks Desktop with your bank account or credit card account. You can perform this process any time. However, you can face several issues as well while reconciling your transactions. One such error is when you have processed the reconciliation, but the transactions still shows unreconciled. Some of the most possible causes of this issue are as follow:
- You mistakenly selected the Undo Last Reconciliation
- You made some modifications in the reconciled transactions or they were removed.
- The reconciled transactions were marked in the account register.
- The amount was transferred or received from a previously reconciled transaction.
- You converted your QuickBooks company file from Mac to Windows or QuickBooks Online to desktop.
- You never reconciled the transaction in your company file (You restored the backup and the over-right the existing reconciled transaction).
The reason can be abstract but whenever this issue occurs, you need to reconcile same transactions again. You can also process a mini reconciliation or special reconciliation to resolve the issue. However, this error can be resolved by performing two different methods. We have provided both the methods that you need perform to resolve the issue and they are as follow:
In this method, you need to perform an off-cycle reconciliation date and you also need to the ending balance from the latest reconciliation.
Reconcile A Bank Account
- From the Banking menu, select Reconcile.
- Choose the account that you want to reconcile.
- Now, provide a date for an off-cycle reconciliation in the Date of Statement. You can set any date between the last and upcoming reconciliation. Note: While using the Off-Cycle date, you will get a reminder that a mini reconciliation is already being used to keep last unreconciled transactions back without having any impact on the Cycle that is being followed by them.
- Provide the last successful reconciliation balance under the Ending Balance field and select Continue.
- Check the transactions you are currently reconciling. Make sure you see $0.00 in the Difference field and then click on Reconcile Now.
Reconcile A Credit Card Account
- Perform above steps again to reconcile a bank account but here, you need to choose the credit card account instead of bank account.
- From the Credit Card reconciliation screen, choose Reconcile Now You may be asked to Create a payment check or Create a bill to pay later.
- Select the Create a Bill
- Once the reconciliation report is printed, the credit card bill will be shown on your screen. The amount on the bill is the balance you reconciled in this reconciliation.
- Remove all the details from the bill by clicking on Clear
- Close the Bill Window.
- A bill is not created, and it will not affect your credit card balance.
In this method, you need a date other than the recent reconciled date and there is no need to know the ending balance from previous reconciliation.
Reconcile a bank account
- From the Banking menu, choose Reconcile.
- Select the account you are reconciling.
- In the Date of Statement section, provide an off-cycle date. Doing this will ensure that the transactions shows in the proper reconciliation report period.
- Type $1.00 in the Ending Balance section and choose Continue. Ensure that $1.00 is an arbitrary figure to initiate the reconciliation process and it can also be modified in next steps.
- Checkout the transactions on the Reconcile window.
- Checkout the Cleared Balance amount from the bottom-right corner.
- Open the begin reconciliation window by selecting the Modify
- In the Ending Balance field, provide the Cleared Balance and then select Continue.
- Make sure you see xero difference. If yes, select Reconcile Now
Reconcile a credit card account
- Follow the same steps to open the Reconcile window but you need to choose Credit Card account this time.
- Select Reconcile Now option and you will get a message stating: The outstanding balance on this account is $______.To pay all or a portion of this amount, select the payment type and click OK. To leave the balance in reconciled account, click on Cancel.
- Ensure that while creating a bill that you are unable to pay now, QuickBooks and your payment won’t be included in the sync because QuickBooks displays a payment and not your statement.
- Click on Cancel to the message window.
Reach Us For Support
Hopefully, you find this article helpful and you are now able to reconcile previously deleted and re-entered checking or credit card transactions. However, there are several errors and issues associated with the reconciliation as well. You can face some issues if you don’t follow the provided steps properly. If you are also facing issues, you can get in touch with our support department by dialing our toll-free QuickBooks Support Phone Number +1888-382-7559 to get instant support.