Bank Reconciliation - year end adjustments
QuickBooks Canadayear end bank adjustments by accountant - how do I adjust them out so my bank reconciliation will balance and I don't have a large discrepancy?
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duZA2guA4r4yUOacwZ5xHE
02/07/12 9:11am PST
Viewed by asker 05/15/12 10:15am PDT
Viewed by asker 05/15/12 10:15am PDT
4 Replies
CountryMusicMom
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02/07/12 9:33am PST
The adjustment won't change your reconciliation.
Why is your accountant making an adjustment to your bank balance?
02/07/12 9:37am PST
The accountant had to make adjustments that were posted in error for the previous year by the previous person doing the books. There was a fairly large amount showing out of the bank and when I try to reconcile there is still this amount as a discrepancy
02/07/12 10:05am PST
Does the amount of the adjustment from your accountant not equal the total of the incorrect entries?
02/09/12 11:02am PST
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The adjusting entries that were done were to correct the previous year's opening balance. I do not have any of the records from that previous year and therefore the bank register in Quick Books simply shows the amount being adjusted out of the bank. I do not have any corresponding entries sitting in QB to account for this adjustment. I thought maybe I should show these entries as cleared, but the bank statement and the QB register do not balance for the opening bank reconciliation for this year.
