Here is a list of some of the common questions about the bank reconcile process that are not covered in Reconcile process and overview.

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Why does my opening balance seem incorrect?
How do adjusting entries created by the Reconciliation feature affect my accounts?
Amounts on my reconciliation report do not match other reports listing that account
After export or import, Reconcile has a beginning balance of zero ($0)
Where is the undo button?
Why don't I see transactions dated after the Statement Ending Date when I reconcile my register?
Change a Transaction Status or undo a Reconciliation
Can't enter the ending balance or statement date when I start to reconcile
Interest and/or bank charges show up twice in my reconcile and bank register
Reconciling for the entire year

Why does my opening balance seem incorrect?

Step 1: Understand what transactions affect the opening balance

  1. Select Accounting from the left menu.
  2. Select Chart of Accounts at the top.
  3. Find the account you want to view and in the Action column, select View register or Account history.
  4. Toward the right side of the screen is a narrow column that has a checkmark in the name section. This column shows the status of each transaction.
    • Any transaction with the status of R in the check mark column affects the opening balance regardless of date, type, or amount.
    • Any transaction with the status C or blank in the check mark column does not affect the opening balance.
  5. If the last reconcile balanced correctly, but your opening balance is still incorrect, one of the following scenarios has taken place after the reconciliation:
    • Transaction(s) were edited in the register and the reconcile column was changed to show the wrong status as follows:
      • Unreconciled transactions were incorrectly marked with a R so they affect the opening balance (they should not).
      • Reconciled transactions were incorrectly marked a C or left blank so they no longer affect the opening balance (they should).
    • Transaction(s) marked R with were deleted from the register.

Step 2: Locate the discrepancy

  1. First, view the changed transactions report to see what transactions have changed since the last reconciliation. For step by step instructions see article Changes to the Reconcile Report explained.
  2. If you're able to locate the transaction(s) using the changed transactions report, while in the report, select the transaction(s) to edit them. View the register to correct the status (R, C or Blank) and re-start the reconcile.
  3. If a previously reconciled transaction was deleted, did you reenter it to its original state? If not, make these changes then check your opening balance and restart your reconcile.
  4. For additional troubleshooting steps for a reconcile see article Troubleshooting your reconcile.

How do adjusting entries created by the Reconciliation feature affect my accounts?

When reconciling, you have the option to make an adjusting entry if the difference isn't zero when you are finished.  This is helpful when the amount isn't off by very much.  Taking hours to find amounts that are off by a few pennies doesn't make much sense.   

Important: Adjusting entries should be made only as a last resort for small amounts. Making adjusting entries for substantial amounts may create serious issues in the future.

How making an adjusting entry will affect your accounts

  1. If the difference after reconciling is a negative number and you make the adjusting entry, a check/cheque transaction (without a check/cheque number) will be created that reduces your bank account by that amount, and then also decreases your Opening Balance Equity account. This will affect your Balance Sheet, but not your Profit & Loss.
  2. If the difference after reconciling is a Positive number and you make the adjusting entry, a deposit transaction will be created that increases your bank account by that amount, and then also increases your Opening Balance Equity account. This will affect your Balance Sheet, but not your Profit & Loss report.
See Troubleshooting your reconcile for more information about what to do if your reconciliation is wrong.
If you still need more help, find a local QuickBooks ProAdvisor.

Why does the amount on my reconciliation report not match other reports listing that account?

  1. If you are comparing your reconciliation report to other reports within QuickBooks Online, it's important to remember a few things about how this report works.
  2. This is a static report. If information within your company has changed, that change will not reflect on this report but will affect all others within QuickBooks Online.
  3. The balance on this report is the balance of all the reconciled transactions, while all other reports show account balance based on posted transactions.
  4. Reconciled transactions are those with the status R listed within the bank or credit card register. Transactions are reported as posted the moment you save them within QuickBooks Online.

After exporting from or importing to QuickBooks Online, the Reconcile screen shows a beginning balance of zero ($0).

After exporting data to, or importing data from, QuickBooks Desktop, the Reconcile screen will sometimes show the beginning balance of zero ($0) and show very old transactions. The solution is to perform a single reconcile using the ending balance of the last reconciled bank statement. Do not enter any interest or fees, and then save the reconcile.
  1. Select the Gear icon at the top, then Reconcile. On the reconcile screen, verify that the beginning balance is zero ($0).
  2. Enter the ending balance of the last reconciled bank statement. (You can get the balance by looking at the reconcile report in QuickBooks Online.) Don't enter any other interest or fees.
  3. Select OK. You will now see the list of transactions and balances to be reconciled. Look at the difference and see if the number is zero.
    • If the number is zero, select Reconcile Now to complete the process.
    •  If the difference is not zero, select Unmark All and place a check in Hide transaction after the statement end date.  Select Mark All and use the reconciliation report from QuickBooks Online to remove the check from transactions that were not cleared as of the last reconcile.
  4. Select Reconcile Now to complete the process.

Why don't I see the Undo Reconciliation button I had in QuickBooks Desktop?

The Undo Reconciliation option that you have in QuickBooks Desktop is available only in the QuickBooks Online Accountant version.

It is still possible to manually unreconcile in QuickBooks Online though, however,  we do not recommend manually unreconciling unless you're in the middle of a current reconcile and just need to start over.  In many cases, a manual unreconcile can cause more problems than you had set out to resolve and may not reveal the root cause of the problem. 

For quicker resolution of your reconciliation issue, see  troubleshooting your reconcile to help you identify the root cause. There are three general categories that all reconciliation problems fall within. Troubleshooting for each of these situations takes a fraction of the time that manual unreconciliation may require. 

If you still desire to manually undo your reconciliation, we cannot assist you with the process beyond providing you with the following steps.

If you already know what's wrong with your reconciliation and simply need to manually adjust the reconcile status on a transaction, follow the steps in  How do I clear, unclear, reconcile or unreconcile transactions? 
Caution : This action will affect your Opening Balance. If you are not 100% sure you are making the correct adjustment to your data, please stop and use Troubleshooting your reconcile to identify the issue. Even if you are sure, it is strongly recommended you keep record of the changes you are making.

Why don't I see transactions dated after the Statement Ending Date when I reconcile my register?

If you don’t see transactions dated after the Statement Ending Date, perform the following steps:
  1. Select the funnel icon on the left side of the Reconcile window.
  2. Choose Date and then select Custom Date from the drop down menu.
  3. Choose the transaction dates.
  4. Select the Apply button for the changes to take effect.  

Change a Transaction Status or Undo a Reconciliation

Anytime you undo something as official as reconciling, we like to make sure you understand what the results may be.  So, before proceeding, make sure you know that:
  • The reconciliation opening balance is the total of all your reconciled transactions
  • If you edit the status of these transactions as indicated below, it can change the opening balance on your reconciliation.

Change the status of an individual transaction

  1. Select the Gear icon at the top, then Chart of Accounts.
  2. In the row of the account you'd like to view, select View Register/Account History in the action column.
  3. In the register, find the transaction which needs to be cleared, uncleared, reconciled or unreconciled.
  4. Go to the reconcile status column (indicated by a check mark).
  5. You can continually click in the yellow area of this field to achieve the desired status for this transaction. For example, if it was originally blank, click once and it will display a C, if you click again an R, and click again and the transaction goes back to blank.
    • C=cleared
    • R=reconciled
    • blank= none of the above
  6. Select Save once the transaction/s show the desired status.

Undo an entire reconciliation 

  1. You have to edit each transaction one by one as described above in order to undo an entire reconciliation. 
  2. You can use your reconciliation report or bank statement to verify which transactions you need to edit.
  3. If you created an adjustment entry, you'll need to delete that entry as well.
  4. For help on how to locate an adjustment entry see How do I find all previous reconciliation adjustments?

Can't enter the ending balance or statement date when I start to reconcile

  1. If you go to the reconcile screen and do not see a pop-up window asking you to enter the ending balance and the statement date, it's because a reconcile is already in progress for that account.
  2. At the bottom left of the reconcile screen is an information box that shows the statement ending date and balance that are set for the current reconciliation. If these need to be changed, select Edit Information from Statement.
  3. Alternately, you can reset the current reconciliation by selecting Cancel at the bottom of the reconcile screen. Please be aware that this will remove the cleared status (check marks) from any transactions that have been checked in the reconcile screen.

Interest and/or bank charges show up twice in my reconcile and bank register

If your interest income and/or bank charges are showing twice in your bank register and reconcile screen, and you have eliminated that it's because the transactions were already downloaded and added from download transactions, it is most likely because the account that was assigned to account field on the transaction was the bank account instead of the bank charges expense account or interest income account.

You can easily correct this by opening the transactions from the reconcile screen and editing them, or by customizing your bank register to show only unreconciled transactions and editing them from there.
  1. In the reconcile screen, double-click on the entry to open it.
    1. Under the Account drop-down list at the bottom of the Check/Cheque entry or on the Deposits screen, select the Interest Income or Bank Charges expense account.
    2. Select Save.
    3. Select Yes.
  2. In the bank register, select the filter icon.
  3. From the Reconcile Status drop down list, select Not Reconciled or Cleared.
  4. Select OK.
  5. Change the account and select Save.
  6. Be sure to remember to change the account selection the next time you reconcile. The program will offer the correct account(s) after that.

Year-end: Reconcile accounts for the entire year

If you have never reconciled or fallen behind on reconciling your bank accounts on a monthly basis, you’ll need to do so now or financial reports may not be correct when preparing your taxes.
  1. Select the Gear icon at the top, then Reconcile.
  2. Select the bank or credit card account that you need to reconcile.
  3. Fill out the Reconcile Statement window. (If you don’t see the Reconcile Statement window, you or another user has already begun to reconcile that account and you can select Continue reconciliation.)
  4. Begin with the oldest bank statement, and reconcile month-by-month up to the most recent statement.
    1. The farther back you start, the more likely you are to uncover errors and discrepancies.  If you've reconciled at some time in the past year, you need to start from that point and move forward.
    2. You must reconcile against each statement, one after the other, up to the most recent statement.
    3. Banks can reissue old statements upon request if you're missing any.
If you’ve never reconciled, see  reconcile process and overview for more detailed information.
If you run into a problem while reconciling, see  troubleshoot an account reconciliation for detailed troubleshooting steps.