Can anyone help me understand why my client has so many ‘not reconciled’ transactions and discrepancies?
When I look at my client's 'not reconciled transactions' there are:
1. Manually matched transactions in "not reconciled" which are mostly checks that have cleared.
2. Duplicates - Manually and automatically added with rule transactions.
3. Transactions that have not been entered through bank feed.
4. Journal entries that are "cleared" and manually matched (the memo states that these are transfers).
1- When you go into the reconciliation window and pull up the bank does it give you a warning message?
2- Does the ending statement bank balance for Dec match the bag balance showing ready for January rec?
I just had an issue with this on a client. They would manually enter a transaction, and then add instead of match or match the DL TX from bank feed with the wrong TX. So if they do any of the above, the tx will show “C” for cleared which isn’t the same thing as “R” reconciled and that could be the issues.
As long as the account is indeed reconciled, you can delete any tx that is showing C in register. That would mean one of the above scenarios took place.
By txs not entered floating around in bank feed, you mean that they are listed in bank feed and are old? You would click those and go natch actions, and exclude selected.
If you do get an error message on the rec after you delete the said tx’s, you can go to the message that says “help me fix what’s wrong” or something like that… It will show you all the changes you made since last rec and you can narrow down on which entry was actually previous R.
So to be more clear for your #1.. Totally feasible if client matched them and then reconciled the duplicate tx.
Almost always a duplicate entry issue when the recs have actually been done. The other issue I ran into was unapplied bill payments. Client would go in and enter a bill payment w/o matching to the bill or entering a bill… And then R with one or the other. 😔
Becky Gripton is a Certified Quickbooks Online Pro Advisor with almost 20 years of experience in full-cycle accounting.