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Post Info TOPIC: Deleted reconciled transaction


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Deleted reconciled transaction


Hi, does anyone know how I reinstate a reconciled transaction in quickbooks desktop. I know what the transaction is, and that I have to enter the invoice and payment again, but how do I re-reconcile? Thank you M

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Master Book-keeper

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Undo the whole reconciliation.

handy hint for future
never ever delete a bank reconciled or VAT reconciled item or item in a previously closed period which may be a month, quarter or year end (especially year end when accountant has dealt with it/been handed the info. Instead you just do adjusting entries (which are dependent on the item you wish to delete) - this advice covers all software.

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 Joanne 

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Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.

You should check out answers with reference to the legal position



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Hi Megan - maybe too late but only just seen this - i dont think you abs have to undo the bank recon

may not be understanding the situation correctly but if the "new" amounts are going to be the same just enter the inv/payment and do another bank rec - enter the "beginning balance" fig in the "ending balance" box and when you go to the recon screen the difference should be the "new" amount

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Hi,

In QuickBooks if you delete a reconciled transaction then the Beginning Balance in the next bank reconciliation will reflect the change and it won't match the opening balance on the bank statement. So the above should work. 

Good answer Simon, and I hope you continue to contribute to the forum. 

Another way to approach this situation would be to re-enter the deleted transaction, then open the bank reconciliation and in the Begin Reconciliation window change the date to match the date on the bank statement which includes the deleted transaction. Then change the Ending Balance to match the ending balance on that same bank statement. 

You can then continue into the reconcile window, find the re-entered transaction and checkmark it. When you do, the Difference value will change to 0.00, and you will be able to reconcile. The next time you open the bank reconciliation window the Beginning Balance will match the beginning balance on the bank statement. 

If you decide to undo an entire bank reconciliation in QuickBooks, please note that the Beginning Balance value won't be reset to the previous beginning balance. QuickBooks will return you to the Begin Reconciliation window after undoing a bank reconciliation, but you need to close the Begin Reconciliation window and re-open it again to update the Beginning Balance.  

Hope that helps. 



-- Edited by Lorry10 on Sunday 1st of March 2020 01:28:12 PM

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Lorraine 



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Lorry10 wrote:

Hi,

In QuickBooks if you delete a reconciled transaction then the Beginning Balance in the next bank reconciliation will reflect the change and it won't match the opening balance on the bank statement. So the above should work. 

Good answer Simon, and I hope you continue to contribute to the forum. 

Another way to approach this situation would be to re-enter the deleted transaction, then open the bank reconciliation and in the Begin Reconciliation window change the date to match the date on the bank statement which includes the deleted transaction. Then change the Ending Balance to match the ending balance on that same bank statement. 

You can then continue into the reconcile window, find the re-entered transaction and checkmark it. When you do, the Difference value will change to 0.00, and you will be able to reconcile. The next time you open the bank reconciliation window the Beginning Balance will match the beginning balance on the bank statement. 

If you decide to undo an entire bank reconciliation in QuickBooks, please note that the Beginning Balance value won't be reset to the previous beginning balance. QuickBooks will return you to the Begin Reconciliation window after undoing a bank reconciliation, but you need to close the Begin Reconciliation window and re-open it again to update the Beginning Balance.  

Hope that helps. 



-- Edited by Lorry10 on Sunday 1st of March 2020 01:28:12 PM


 Glad you added the red line.

 

So - with the other options suggested - how does that impact on closing positions given the deletion?



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Caron



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Hi,

Yes, its important to know that after undoing the bank reconciliation the Beginning Balance won't automatically update, and that you need to exit the screen. Otherwise, you could get into a muddle with the bank reconciliation.

QuickBooks automatically sets the Beginning Balance for a reconciliation to the ending balance of the previous reconciliation, hence the advice above.

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Lorraine 



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Not what I was asking. What about the prior end balances? Not the start balances.

You did a rec to £xx, you delete an item, that screwed the last rec balance so that is now closed at £yy.

How will you correct the closing balance?

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Caron



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If you have another look at my reply, it suggests changing both the date and the end balance of the bank reconciliation to match the date and the end balance of the bank statement where the deleted transaction took place. 

 

 

 

 



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Lorraine 



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So what you are saying is that you would have 2 bank reconciliations for the period end, one with bulk of transactions and wrong closing balance, and one with revised re-entered formerly deleted item and the end balance matching?



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Caron



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Hello again, 

If you have another look at the question you'll see that the transaction in this scenario is  not being revised - it's being re-entered with the same date and the same amount as before. Also have a look at the discrepancy report that you can access from the bank reconciliation screen in QuickBooks, that you can include. It shows changed transactions, date of the change, and effect on the balance. The report is also good for finding discrepancies when you are reconciling, or finding changes anyone else has made to reconciled transactions. 

 

Hope that helps. If you have anymore questions for me today, just to let you know I am punching out now for the evening.

Bye for now 



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Lorraine 



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Revised

Re-entered

 

Thanks for your efforts, however you are not understanding my point,  so I will leave it there.  

As with most things there are several ways round a task.

 

 

I wouldnt recommend deleting entries that have been reconciled (not just Bank) so encourage them to contact me if they make such a fudge up, especially to avoid the prior year end mess they can make although I am not currently using QB Desktop much, if I can avoid it, but know their guidance was always the same as QBO currently adopt and they certainly do not recommend deletions and provide workaround guidance, but that is assuming folk read the instructions before blundering on in!!   With desktop at least there is the option of being able to back it up before trying such entries so avoiding creating a mess,hopefully.    Although as Accountants we should know how to be able to correct such errors when folk who have no clue whatsoever have created said mess.   






-- Edited by Casu on Sunday 1st of March 2020 08:41:02 PM

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Caron



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Sorry if you didn't get the response you were looking for, Casu.

If you have a look at the  Discrepancy Report which shows the effect of any changes on the balance, that should help make it clearer. I think you may have been making a few assumptions there, as to the date of the mini bank reconciliation. Bank statement refers to the bank statement where the transaction took place (think pages of bank statements here, rather than a bank feed or monthly download) and the date is being taken from there. 

For anyone reading, please note that none of the suggestions above are intended to encourage the deletion of bank reconciled transactions. 

Users should be advised to note the warning message that pops up if a deletion is attempted.

 

Have a good day folks 



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Lorraine 



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Lorry10 wrote:

I think you may have been making a few assumptions there, as to the date of the mini bank reconciliation. Bank statement refers to the bank statement where the transaction took place (think pages of bank statements here, rather than a bank feed or monthly download) and the date is being taken from there. 

 


I am not making any assumptions !! 

You  are making assumptions.  I am a MAAT MIP, as my profile shows, not the green behind the ears OP.   

TBH I find your responses quite condescending. 

 

 



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Caron

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