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  #1  
Old 09-28-2006, 01:41 PM
ehui ehui is offline
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Making changes after reconciliation

I'm not sure how to approach this problem. I have checks that are uncleared in Quickbooks but have actually cleared at the bank. The reason the bank reconciliations werent off was because new entries were added to the register rather than clearing the checks. (In other words there are duplicate entries for the same amount. One is cleared and the check remained as a carryover item under Uncleared transactions).
This problem goes back several months. What is the best way to fix this? I dont want to delete the check entry because that is a valid entry. Can I delete the duplicate cleared entry and then clear the checks? Would this throw off my bank reconciliations?
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  #2  
Old 09-28-2006, 04:58 PM
qbsrox qbsrox is offline
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First, make a back-up and be SURE it is good (meaning you can actually use it to restore).

Then go through and void the duplicates (I would void and not delete so you have some trail). You may even want to print a paper copy of the transactions so you can verify along the way.

Next, do an 'out of sequence' bank reconciliation; basically go to Banking>Reconcile ... change the date to the same date as the last time you reconciled and use the same ending balance. Your beginning balance will be off because you voided those checks.

For instance; at the end of August you reconciled using 8/31/06 as your date and the ending balance you entered/used was 5,000. When you go to Banking>Reconcile ... change the date back to 8/31/06 and enter the 5,000 ending balance.

Next, mark all the checks that should have been marked cleared originally. You will see all the Voided entries on the list as well, they will already have a checkmark beside them. The end result should be exactly as it was when you reconciled on 8/31/06. Click on 'reconcile now.' I would print the report and make a note on it and file it away.

Let me know if the above makes sense. You may want to try it on a few entries first to see how it works.

Rox
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  #3  
Old 10-03-2006, 06:21 PM
ehui ehui is offline
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I see...
So basically what I would be doing is making corrections all in one month by
1) going back and voiding the duped charges
2) using the last bank reconciliation to clear all old settled checks.

My open balance will be off because of the voided charges but my ending will be okay because I would have offsetted the difference by clearing off the checks.

Instead of doing it on the last bank rec could I just do it on my next bank reconciliation?
I guess this is the easiest way to handle it. But the only problem is if I try printing old bank recs, the balances will be incorrect because the checks would not have cleared in the correct period. Is that right?
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  #4  
Old 10-03-2006, 06:56 PM
qbsrox qbsrox is offline
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Yes, you have it. You don't have to undo the last rec, you are just doing basically a 2nd reconciliation for the same timeframe - that only deals with the dups/changes.

Rox
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