how to delete reconciliation in quickbooks

DĪlthough there are two options for finding errors in previously reconciled transactions, generating a Reconciliation Discrepancy Report is the quickest and should be tried before undoing the previous bank reconciliation. Generate a Reconciliation Discrepancy Report to look for changes. Enter a reversing entry to balance the account.ĭ. Contact the bank to see if there is an error.ī. (See Bank Reconciliation Chapter - Finding Errors During Bank Reconciliation - Correcting or Voiding Transactions in the Current Accounting Period and Finding Errors During Bank Reconciliation - Correcting or Voiding Transactions in Closed Accounting Periods) Your Beginning Balance on your bank statement doesn't match the Beginning Balance field in the Begin Reconciliation window. Only correct errors in the original transaction when the bank didn't make the error and the error was made during the current reconciliation period. When you made the error in the current reconciliation period. When you made the error in a closed period.Ĭ. (See Bank Reconciliation Chapter - Reconciling Bank Accounts and Finding Errors During Bank Reconciliation) When should you correct errors by making a change to the original transaction?ī. The Beginning Balance is calculated from all previously cleared transactions. is always the amount in the account's register at the beginning of the month. is always the same as the Ending Balance from the previous reconciliation period.ĭ.

is calculated by adding and subtracting all previously reconciled transactions.ī. (See Bank Reconciliation Chapter - Handling Bounced Checks - When Your Customer's Check Bounces) The Beginning Balance field in the Begin Reconciliation windowĪ. Aĭon't delete the original check or deposit when a customer has bounced a check.

Enter a transaction in the register for the bank's NSF charge. Create an invoice for the NSF processing fee.ĭ. Enter a transaction in the register for the amount of the bounced check.Ĭ. Which of the following should you not do when recording a bounced check?Ī.

How to delete reconciliation in quickbooks