Reconciling after multiple years
I haven't reconciled my account for years. How do I bring it to date?
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06/04/10 10:52pm PDT
Viewed by asker 06/08/10 1:39pm PDT
Viewed by asker 06/08/10 1:39pm PDT
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3 Replies
raywhite28
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Questions answered: 47569
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06/05/10 8:31am PDT
The solution
You can either do month by month or do 1 rec for all the past months. Marking all the checks as cleared & deposits as cleared except the most current ones that haven't cleared. Then write off the difference in the bank balance.
Hope this helps. If so please mark solved, if not please ask more questions. Thanks!
06/07/10 10:27am PDT
I have this same problem with one of my accounts. do I let it post to reconciliation discrepancy expense account and debit the account to balance or is there another account this should post to balance the account balance.
06/08/10 1:38pm PDT
Latest post
Thank you for your help. I had elected to reconcile each year by the last month of the year and allow the program to make a balance adjustment and then I balanced by month from January 2010 to present. So I concur with your answer. I am all caught up now. :)
