Hello, my QuickBooks Bank Reconciliation fans! This video of learning QuickBooks online will show you the best tool ever made to help fix what someone screwed up in your monthly bank reconciliation in QuickBooks online. If some fool changes, deletes or adds anything that was already cleared during the past month’s bank reconciliation, it will mess up the beginning balance and you will not be able to reconcile this current month. In fact, the reconciliation window in QuickBooks online won’t even let you reconcile until the beginning balance is fixed and matches the statement beginning balance. The discrepancy report shows everything that changed, when it was changed and who changed it (goofball). It gives you the ability to fix everything right there in the report’s window! Then you can go back to reconciling normally. I thank you all and hope that you will click “like” and “subscribe.
Thank you so much for the compliment and I hope you will click like after watching each one and subscribe and if you need anything else related to quick books just go to the main channel page or ask me Mark
Thank you so much There's a full bank reconciliation playlist if you click the top right corner of the video I hope you will click like after watching each one and please subscribe Mark
OH MY GOSH! You saved me! I was determined to fix my mistake myself and not contact my accountant. It was a delete and I couldn't do it for 3 months! Thank you!
Thank you so much, that's so very helpful!! I had a deleted transaction and now I get back on track! Thank you for your great work and effort, really appreciated!!
Thank you for the compliment and I'm very glad it helped you. You should click in the top right corner of the video to get the full playlist and watch it in proper order so you can get every benefit from all the videos that relate to this topic. I hope you will click like after watching each one and subscribe Mark
Happy to help! I have a Video for every quick booktop that you could need and I hope you will click like after watching each one to support the free channel for everyone and please subscribe. Mark
I'm so glad it helped you. I have a video for anything you need and QuickBooks don't be shy to ask I hope you will click like after watching each one and subscribe Mark
hi, our problem is that the beginning balance is off by -326.04..but when you go to the discrepancy report it says "there are no transactions showing, check the filters they may be hiding" But where is the filter for this page or how can we get what's wrong to show? Thx!
Thank you for asking There are little symbols all over the page there's a cogwheel and there's a funnel symbol so first try clicking on each little symbol to see if it gives you the ability to filter by date or some other criteria and see if you can filter it to show everything regardless If you looked at every icon on the page and tried clicking on each icon and menu choice and still can't find how to filter it you can either call QuickBooks Online support or we could do a live paid session but it would be better if you figured it out for free so please let me know Mark
@@worldwidequickbooks OK, yes I know the icon you're talking about and if the problem would just show up like it always has before it would be great! But sadly no transactions show up on the discrepancy page and there isn't a funnel symbol nor will anything on that page work. I will call them and if they can't fix it I'll definitely get in touch with you as it has to be fixed lol, and thank you so much for the reply!
Great video. Was curious if you had any insight on "Reconciled in Register" as the "Change Type" in the "Reconciliation Discrepancy Report" any help is greatly appreciated! Thank you!
Good day. I firstly want to say that your videos awesome! I did the 3 hors and 20ish minutes intro video and learned a lot. I then started this bank reconciliation playlist and has been going great. Problem is that when it came to march, I can't finish the reconciliation because i have no entries after march 17th and the one for march 17th ($2750.00 Deposit, Split) that i have is not on this video or the the excel document. and i don't have any others for April either. It seems that i might have missed a video or two maybe? can you help me out please?
Thank you so much!! Since I really appreciate your devotion as a fan and as a student, I will email to you the file to import and a link to the import videos so you can use a fresh, new qbo account to do the reconciliation playlist. worldwidequickbooks at g mail dot com. The additional transactions after March 17th, are from 3 advanced paylists that follow the main tutorial. They are a little out of date but if you do not want to import, and instead you want to do the whole advanced course BEFORE doing the reconciliation playlist, then please tell me and I will send you the links. This way, you will record all transactions yourself before reconciling. -Mark
@@worldwidequickbooks Hey! Sorry for taking so long with my response, not used to creators responding so quickly, especially on youtube. You are awesome my guy. I will email you know. In regards to the options you gave me, can you send me both the import file with link to import video and the links to the advanced playlist link and the advanced playlist links i missed please? Im not greedy, i swear, but if the videos are out of date like you said and i can't follow them fully because of changes then id like the import file as a backup to finish the reconciliation tutorial. But truly, my first choice would be to finish the main tutorial, learn all it has to offer and put them in myself. Thank you for your assistance!
hello sir, thanks for the videos and explanation is awesome, please make video on month end reporting process of transaction ,journal entries, and financial statements at the end end of each month
@@worldwidequickbooks thank you so much sir please make a video on Reviewing Aging Reports in conjunction with the established credit policies.. it would be very helpful plz make a video on aging report..
@@Nina-en7en Thank you prav, I would love to accomodate you. However, I have no Idea what you are talking about. "reviewing aging reports with established credit policies"? I think that you can look at an aging report and make jugments yourself. Every compay has it's own credit policy. Just look at the open invoice and decide who is late. -Mark
Sir , how to run aging report in accounts receivable and accounts payable, inventory aging report.. I mean to say how to customize online plz make one video on aging report. I would be grateful .. for your help
My understanding about bank reconciliation is matching number from bank statement with expenses entered into quickbooks, make sure book balance and bank balance is equal. I am correct?
Almost I suggest you click on the top right corner of this video to get the link to the full bank reconciliation playlist if you really want to understand properly Each video is only a few minutes and you need to watch them in proper order and then it will be clear Mark
I love these videos, but I can't find one to help with my problem. My problem: When I reconciled my checking account last month all was perfect. Then when I tried to reconcile it this month there was this warning "Your beginning balance is off by $1,000" I clicked the link to the Reconciliation Discrepancy Report and it is blank. Why would it be blank and how do I fix the balance back to the ending balance from last month?
O m g i'm so sorry and I do want to help you You are correct and this video is verifying that you are correct that if you get the warning that the balance is different then something should be showing up in the discrepancy report Maybe look around the window in the discrepancy report and see if you can change the date range or some of the options to reveal everything you need to See I would also check last month's statement to see what the ending balance of last month really was and check if it's true that the error message is accurate at the beginning balance in your quick books online or at least the beginning cleared balance is different from the ending balance of last month statement That may reveal a clue and you could also Call quick books online sales and support to get a tech person to listen to what's on last month statement and see if they can help you fix it I also suggest you click on the top right corner of this video to get the link to the full playlist and if you watch it in proper order you will have the full understanding and you will have every possible topic and the knowledge they are of regarding bankruptcyliation and quick books online Mark.
another wonderful video on reconciliation. Thank you, great sir. This is my first-time bank reconciliation in QB online. The date of the transaction does not appears on my bank reconciliation page. Would you please help me how do I get the date for the transaction on the bank reconciliation page? I shall highly appreciate your help.
The date does nopt show because it is not relevant. There will often be a difference in date for the same transactions because we always record them before they clear the bank. You will see this if you start the palylist from the begining: ua-cam.com/video/rVPMYw84UaE/v-deo.html I hope you will click "like" after watching each one and I hope you will subscribe. -Mark
What happens when your beginning balance is wrong and quickbooks DOES NOT give you an alert and an option to get a discrepancy report? I have searched high and low and the only explanation I get is that it was reconciled outside quickbooks or the date is wrong. neither appears to be the case. I am helping someone who neglected reconciling all year. It was indeed reconciled through last year, and when I go to history, it looks like the balance was correct thru Dec 31 21. I have not used Quickbooks in years, but it seems like this is a great added feature that cures many headaches...but it is giving me one.
Thank you but firstly, make sure you click on the top right corner of this video to get the whole playlist and secondly make sure you watch the playlist in proper order Doing that will answer most of your questions if you watch it in proper order thoroughly I would also tell you that those videos show that you can't just reconcile specific past months. In your case, you would have to go all the way back to the last month that was properly reconciled, and then reconcile from that month going forward very carefully. If someone changed several of the past month's numbers then you have to go all the way back to the last one that was correct and then make it correct going forward from that point. Unfortunately, there is no other way to make sure that everything is correct and yes it does take time Please confirm you have the playlist and that will clear things up if you watch it the right way in the proper order Mark
@@worldwidequickbooks I actually did watch most of the videos in order, from the beginning, but then ended up using sage on my latest job, so never quite finished, but i reviewed that section. I did go back to the last month. It was reconciled through december 2021. I looked at the last reconciled report. It was correct. I put the ending date of January 2022 with the ending balance on that statement. (begining balance in quickbooks is over 1000 off) I did not get an alert, it went to the reconcile page and said there are not transactions to show. I have the entire year of statements and there is transactions. My problem is, there is no alert comes up saying it is incorrect, therefore there is no discrepancy report. Quickbooks is not recognizing the balance is wrong. I may have to call and ask them. I cannot find any details for this problem.
This was a great video! Would you say completing bank reconciliations is necessary if I only acknowledge and categorize transactions from the automatic bank feed and don't make any journal entries or manual adjustments? I've found that the the balance from the account is slightly off from what's showing in QB but I'm pretty sure no one has added or deleted anything
Thank you Serina. You MUST do bank reconciliation EVEN IF you are getting all your transactions from the bank feeds and then adding them from the review list. There are several reasons why this is true. I hope you will watch the rest of the bank reconciliation playlist. ua-cam.com/video/rVPMYw84UaE/v-deo.html Thank again you for the complement and I'm happy to answer more questions for you. I hope you will click "like" and subscribe.
Good morning, I love your videos! I am attempting to reconcile from 8/2022. I am new at this position and need help figuring out the issue. What's the best way to reconcile adequately when you have no idea if this was an issue from prior. In looking at past reconciliations and reports i gather that the person prior forced the cleared balance without adequately reconciling. Thank you
Thank you but I do have the solution to your problem If you click in the top right corner of this video you will get the link to the full playlist for bank reconciliation You need to patiently watch it in proper order because each video is only a few minutes and explains a different aspect about what your asking about. Towards the end of the playlist,. There's a specific video that addresses doing the first time ever. When you never reconciled before and what the issues could be. I'm absolutely sure if you watch those that you'll be on target and i'm here if you have any more specific questions Mark
hello again. i'm missing the transactions after march 18. what video should i watch in order to input the transactions first before reconciling? the last transactions i inputted are those that are in the FINAL PRACTICE PROJECT.
WOW thank you for being som devoted. I am happy to help. Can you send an email to worldwidequickbooks at gmail dot com. I will send you an exel file that you cn import in to a blank, new QBO account. After importing, then you can follow the playlist step-by-step and match what you see. -Mark
I've never heard of that situation and quickbooks online does have rare on a and unusual Tech Support issues. However, or, you could try undoing the previous reconciliation and seeing if that particular beginning balance from last month matches up. If it does not then you have to keep undoing until the beginning balance matches and then redo all the reconciliations going forward Mark
Quick question. Do you have a video on how to fix undiposited funds account, the amount of which was not reversed when the funds was deposited in the bank?
This video explains about under positive funds and it's part of a playlist ua-cam.com/video/jVyuTqOXqmE/v-deo.html If you click in the top right corner of the video you can see that the videos close to this video in the playlist also talk about the new ones. And details of undo positive funds.
Thank you, If you click in the top-right corner of this video, you will get the link to the full playlist. f you watch it in proepr order, you will have everything you need. All the videos are in the playlist and if you think there is one missing, please let me know. -Mark
Hello I have a customer who DOES NOT pay the full invoice that will pay the invoice in increments so I have 4 payments applied to one payment now that I have received the remaining amount of the payment I can not see the invoice in QuickBooks online to reconcile the remaining amount. What do I need to do?
Are you saying there's nothing left on the discrepancy report? And it is blank, but the beginning balance does not match from the last reconciliation? That would not be possible Please clarify and I'll try to help you Mark
I started to reconcile Jan 2022 through Dec 2022. My bank is connected but I'm $0.30 off? We just started using QB, what would cause this? I triple checked beginning balance and ending balance.
Thank you Mitzi, I found that what is most likely, from what you are describing, is that your eyes did not notice the "change column" in some of the cleared checks is different compared to the "change column" in the transactions in yor quickbooks account records. When the cents are off, sometimes you don't notice the last 2 numbers. You just have to look more closely; the difference is there somewhere. Some people feal that it's not worth loosing a whole day finding a "needle in a haystack" and just adjust the IMMATERIAL AMOUNT to owner's equity. Good luck! -Mark
Yes, Please click in the top-right corner of this video to get the link to the full reconciliation playlist. Watch those videos in proper order and you will see begining reconciliation and everything you need. -Mark
Hello. Your video was very helpful; however, my deleted transaction noted deposit of $685 to Other Business Income-Uncategorized. I am unsure of how to re-enter that deposit. Please advise.
Thank you! I am currently working on our reconcile. While working when I pull up reconcile I get the error "Your beginning balance is off by $304.03." When I click on the link to follow in to see where the issue is, the report is blank! HELP!!!!
Trike changing the date range of the discrepancy report and then make sure you click run report after you change the date and if you still see nothing then you have a tech support issue
If your followiung this video step-by-step, and you cannot open something, you may have a tech support issue. That's my only guess unless you missed something in the video. You may need the "PLUS" version instead of the more affordable version. Q.B.O. support will know for sure if you call them. -Mark
Thnak you for asking. The hard way, is to re-do eveything until it is correct. The easy way, which I do not reccomend but people do it, is to create an "other expense" account and make a journal entry (or have the accountant make a reconciliation adjustment) to move the negative 1 cent to the expense account. This expense account will represent the total of all differences in the reconciliations that you had to do this with over all the months that you could not reconcile. It's not correct but of you have 2,000 transactions on your monthly statement and you tried to reconcile 3 times and spent days and days, then it may be worth it to adjust. I suggets you click in the top-right corner of this video to get the full bank rec playlist. If you watch it in proper order then you will see the video about adjusting the recniliation and you will understand it ebcause you saw the prior videos. -Mark
Hello ,i have deleted transaction but i try to re-enter then back in discrepancies again with changed type of reconciled in registrar, how can i fix it ?Kindly help me
You can start fixing it by re-explaining it in a way that people can actually understand what you're asking. Your question is not a complete coherent understandable question Mark
@@worldwidequickbooks in Reconciliation,There is a Reconciliation Discrepancy Report which the transaction was deleted (Changed Type is deleted ) as you said in this video the deleted transaction must be re-enter ( i did it and put in R ) after that it's come back in Reconciliation Discrepancy Report With other change type of reconciled in register
@@niyifashavenant4333 Thank you for the clarification. The report will show the change in the register even though the change is fixing something. The most important thing to check is the begining balance. If it matches the balance on the statement, then you are successful and can reconcile. If not, then keep looking at the descrepancy report until you match the begining balance. That's a very good and helpful question for everyone. Thank you. -Mark
All your videos that I watched are super excellent. I have input the transaction in QBO for January & February by watching your Video which is 3:31:51 hours (ua-cam.com/video/aoWghI3kvpc/v-deo.html). That's why I was able to reconcile January & February 2017. You didn't show the March and April transactions on that video. How can I complete the bank reconciliation for March, April & May? Please help me out. Or, can you refer me to the tutorial link where you showed the March, April & May transactions in QuickBooks online.
Oh thank you so much The link to the full tutorial is in the description field so please tell me for sure if you found the link in the description field for the full playlist course and make sure you download the bank statements in addition to the transactions so you can follow step by step It's a full playlist but you should start at the beginning if you have the transactions from the complete tutorial but unfortunately you'll need a few more transactions to have everything for April and May bank reconciliation Let me know if you want those playlists so you can watch them and enter the additional transactions for April and May Please confirm you found the link if not then I will send it to you in this reply comment and I will include the other playlist as well Thanks for being a loyal fan Mark
@@worldwidequickbooks Thanks for quick reply. I have already downloaded the bank statement file and the company's transactions file. I completed the bank reconciliations for January and February 2017 by watching your playlist, "QuickBooks Online Bank Reconciliations," videos 3 & 4. I can't reconcile March, April, & May because I have no transactions on QuickBooks Online for those months. I'm trying to input transactions in QuickBooks from the Excel sheet. After that, I will try to reconcile the QBO transaction with the bank statement. Could you please make a video showing input transactions for March, April & May 2017?
Hi there. I have a question. I just started working with a company (which uses QB Desktop) and their bookkeeper left them in the beginning of March. She had not done any reconciliation for the credit card account (which is used a lot) since November 2022. She did enter in the transactions for December. So, I went in and checked them off comparing them to the charges on the statement. All were there. The Difference on the bottom of the reconciliation page read 0.00. So, I thought it was all set. I then went on to work the next months credit card statement and as I pulled up the "Enter Credit Card Charges" and I was looking at the top of the screen and confirmed I had the correct account, then it gave me the option to check off Purchase/Charge or Refund/Credit. and then the Ending Balance stated - 59,650.36 So, I ceased doing anything at this point until I know what to do. This company did their taxes at the end of the year so I am assuming this would be the time to make a change as this would be the charges and the January statement. Can you help me with how to handle this please? Thank you so much for all of your video's --- they have been very helpful for me. I am getting back to working outside of the home with QB Desktop and I am switching over my husbands business to QB Online so I have needed the a lot.
Thank you for asking I guarantee that if you watch this playlist and proper order. You will have at least most if not all of the answers to the questions you're asking ua-cam.com/play/PLqRhgBZfJuE6YguKb9DKbzTRlJZB9XUyq.html You will also be in a better position to clarify. Your question and make it more concise because I do want to help you. But I can't read a massive page or a paragraph. But I'll bet you that if this playlist does not give you what you need. Then you probably just have a few clear questions for me afterwards Any way it's free and each video is only a few minutes each and as long as you watch It in proper order. You can learn the way you need to learn so give it a try and please stay in touch Mark
@@worldwidequickbooks ok. I am sorry. I was trying to give a background to help with a proper situation. and I was thanking you for your helpful videos. My bad. sorry. I usually don't ask questions. I won't bother you. apologies
Hello, my QuickBooks Bank Reconciliation fans! This video of learning QuickBooks online will show you the best tool ever made to help fix what someone screwed up in your monthly bank reconciliation in QuickBooks online. If some fool changes, deletes or adds anything that was already cleared during the past month’s bank reconciliation, it will mess up the beginning balance and you will not be able to reconcile this current month. In fact, the reconciliation window in QuickBooks online won’t even let you reconcile until the beginning balance is fixed and matches the statement beginning balance. The discrepancy report shows everything that changed, when it was changed and who changed it (goofball). It gives you the ability to fix everything right there in the report’s window! Then you can go back to reconciling normally.
I thank you all and hope that you will click “like” and “subscribe.
Hi! If the bank register has a balance for example 2014 but 2018 is the starting date for tracking. How will I treat the previous balance?
Please elaborate and clarify and I will help you as best I can
-Mark
Sir .....hands off to you.....you are the best teacher and sweet voice amongst the other tutor's of youtube
Thank you so much for the compliment and I hope you will click like after watching each one and subscribe and if you need anything else related to quick books just go to the main channel page or ask me
Mark
Mr Smollen, you are the BEST, so clear and understandable! Thank you
Thank you so much
There's a full bank reconciliation playlist if you click the top right corner of the video
I hope you will click like after watching each one and please subscribe
Mark
OH MY GOSH! You saved me! I was determined to fix my mistake myself and not contact my accountant. It was a delete and I couldn't do it for 3 months! Thank you!
Thank you so much! I’m happy to help. I hope you will click “like” after the ones you watch and I hope you will subscribe.
-Mark
Thank you so much, that's so very helpful!! I had a deleted transaction and now I get back on track! Thank you for your great work and effort, really appreciated!!
Thank you for the compliment and I'm very glad it helped you. You should click in the top right corner of the video to get the full playlist and watch it in proper order so you can get every benefit from all the videos that relate to this topic. I hope you will click like after watching each one and subscribe
Mark
This is gold! I really appreciate these videos!!
Happy to help!
I have a Video for every quick booktop that you could need and I hope you will click like after watching each one to support the free channel for everyone and please subscribe.
Mark
You are wonderful!! very clear explanation, I learnt a lot from you, very much appreciated !!
I'm so glad!
Don't forget to click "like" after watching each one to support the free help for everyone and please click "subscribe"
-Mark
Sir plz make detailed video on QuickBooks online payroll section and every possible sales tax transactions
I sent you the link in a previous comment or if you go to my channel page you can find the playlist for quick books and quick books online sales tax
Thank you for your explanations. Where were you 35 years ago! LoL
I'm so glad it helped you.
I have a video for anything you need and QuickBooks don't be shy to ask
I hope you will click like after watching each one and subscribe
Mark
THANK YOU SO MUCH
Glad it helped
hi, our problem is that the beginning balance is off by -326.04..but when you go to the discrepancy report it says "there are no transactions showing, check the filters they may be hiding" But where is the filter for this page or how can we get what's wrong to show? Thx!
Thank you for asking
There are little symbols all over the page there's a cogwheel and there's a funnel symbol so first try clicking on each little symbol to see if it gives you the ability to filter by date or some other criteria and see if you can filter it to show everything regardless
If you looked at every icon on the page and tried clicking on each icon and menu choice and still can't find how to filter it you can either call QuickBooks Online support or we could do a live paid session but it would be better if you figured it out for free so please let me know
Mark
@@worldwidequickbooks OK, yes I know the icon you're talking about and if the problem would just show up like it always has before it would be great! But sadly no transactions show up on the discrepancy page and there isn't a funnel symbol nor will anything on that page work. I will call them and if they can't fix it I'll definitely get in touch with you as it has to be fixed lol, and thank you so much for the reply!
Great video. Was curious if you had any insight on "Reconciled in Register" as the "Change Type" in the "Reconciliation Discrepancy Report" any help is greatly appreciated! Thank you!
Thank you carson. I vever heard that term before and did not see that in this video. I am happy to help you if you elaborate.
-Mark
great video
Thank you so much I'm glad it helped you
Good day. I firstly want to say that your videos awesome! I did the 3 hors and 20ish minutes intro video and learned a lot. I then started this bank reconciliation playlist and has been going great. Problem is that when it came to march, I can't finish the reconciliation because i have no entries after march 17th and the one for march 17th ($2750.00 Deposit, Split) that i have is not on this video or the the excel document. and i don't have any others for April either. It seems that i might have missed a video or two maybe? can you help me out please?
Thank you so much!!
Since I really appreciate your devotion as a fan and as a student, I will email to you the file to import and a link to the import videos so you can use a fresh, new qbo account to do the reconciliation playlist.
worldwidequickbooks at g mail dot com.
The additional transactions after March 17th, are from 3 advanced paylists that follow the main tutorial. They are a little out of date but if you do not want to import, and instead you want to do the whole advanced course BEFORE doing the reconciliation playlist, then please tell me and I will send you the links. This way, you will record all transactions yourself before reconciling.
-Mark
@@worldwidequickbooks Hey! Sorry for taking so long with my response, not used to creators responding so quickly, especially on youtube. You are awesome my guy.
I will email you know.
In regards to the options you gave me, can you send me both the import file with link to import video and the links to the advanced playlist link and the advanced playlist links i missed please? Im not greedy, i swear, but if the videos are out of date like you said and i can't follow them fully because of changes then id like the import file as a backup to finish the reconciliation tutorial.
But truly, my first choice would be to finish the main tutorial, learn all it has to offer and put them in myself.
Thank you for your assistance!
Thank you
glad to help
hello sir, thanks for the videos and explanation is awesome, please make video on month end reporting process of transaction ,journal entries, and financial statements at the end end of each month
Already uploaded
Here is what I think will help you
ua-cam.com/video/FmaV11JLvCM/v-deo.html
@@worldwidequickbooks thank you so much sir please make a video on Reviewing Aging Reports in conjunction with the established credit policies.. it would be very helpful plz make a video on aging report..
@@Nina-en7en Thank you prav,
I would love to accomodate you. However, I have no Idea what you are talking about. "reviewing aging reports with established credit policies"? I think that you can look at an aging report and make jugments yourself. Every compay has it's own credit policy. Just look at the open invoice and decide who is late.
-Mark
Sir , how to run aging report in accounts receivable and accounts payable, inventory aging report.. I mean to say how to customize online plz make one video on aging report. I would be grateful .. for your help
Hello Sir thank you for sharing. I followed your instructions but the amount decreased but the transaction is still in the discrepancy report
My understanding about bank reconciliation is matching number from bank statement with expenses entered into quickbooks, make sure book balance and bank balance is equal. I am correct?
Almost
I suggest you click on the top right corner of this video to get the link to the full bank reconciliation playlist if you really want to understand properly
Each video is only a few minutes and you need to watch them in proper order and then it will be clear
Mark
I love these videos, but I can't find one to help with my problem. My problem: When I reconciled my checking account last month all was perfect. Then when I tried to reconcile it this month there was this warning "Your beginning balance is off by $1,000" I clicked the link to the Reconciliation Discrepancy Report and it is blank. Why would it be blank and how do I fix the balance back to the ending balance from last month?
O m g i'm so sorry and I do want to help you
You are correct and this video is verifying that you are correct that if you get the warning that the balance is different then something should be showing up in the discrepancy report
Maybe look around the window in the discrepancy report and see if you can change the date range or some of the options to reveal everything you need to See
I would also check last month's statement to see what the ending balance of last month really was and check if it's true that the error message is accurate at the beginning balance in your quick books online or at least the beginning cleared balance is different from the ending balance of last month statement
That may reveal a clue and you could also Call quick books online sales and support to get a tech person to listen to what's on last month statement and see if they can help you fix it
I also suggest you click on the top right corner of this video to get the link to the full playlist and if you watch it in proper order you will have the full understanding and you will have every possible topic and the knowledge they are of regarding bankruptcyliation and quick books online
Mark.
another wonderful video on reconciliation. Thank you, great sir. This is my first-time bank reconciliation in QB online. The date of the transaction does not appears on my bank reconciliation page. Would you please help me how do I get the date for the transaction on the bank reconciliation page? I shall highly appreciate your help.
The date does nopt show because it is not relevant. There will often be a difference in date for the same transactions because we always record them before they clear the bank. You will see this if you start the palylist from the begining:
ua-cam.com/video/rVPMYw84UaE/v-deo.html
I hope you will click "like" after watching each one and I hope you will subscribe.
-Mark
What happens when your beginning balance is wrong and quickbooks DOES NOT give you an alert and an option to get a discrepancy report? I have searched high and low and the only explanation I get is that it was reconciled outside quickbooks or the date is wrong. neither appears to be the case. I am helping someone who neglected reconciling all year. It was indeed reconciled through last year, and when I go to history, it looks like the balance was correct thru Dec 31 21. I have not used Quickbooks in years, but it seems like this is a great added feature that cures many headaches...but it is giving me one.
Thank you but firstly, make sure you click on the top right corner of this video to get the whole playlist and secondly make sure you watch the playlist in proper order
Doing that will answer most of your questions if you watch it in proper order thoroughly
I would also tell you that those videos show that you can't just reconcile specific past months.
In your case, you would have to go all the way back to the last month that was properly reconciled, and then reconcile from that month going forward very carefully.
If someone changed several of the past month's numbers then you have to go all the way back to the last one that was correct and then make it correct going forward from that point.
Unfortunately, there is no other way to make sure that everything is correct and yes it does take time
Please confirm you have the playlist and that will clear things up if you watch it the right way in the proper order
Mark
@@worldwidequickbooks I actually did watch most of the videos in order, from the beginning, but then ended up using sage on my latest job, so never quite finished, but i reviewed that section. I did go back to the last month. It was reconciled through december 2021. I looked at the last reconciled report. It was correct. I put the ending date of January 2022 with the ending balance on that statement. (begining balance in quickbooks is over 1000 off) I did not get an alert, it went to the reconcile page and said there are not transactions to show. I have the entire year of statements and there is transactions. My problem is, there is no alert comes up saying it is incorrect, therefore there is no discrepancy report. Quickbooks is not recognizing the balance is wrong. I may have to call and ask them. I cannot find any details for this problem.
@@worldwidequickbooks I figured it out!! He had 2 accounts with the same number. I was pulling the wrong one. Simply Stupid! Thank you!
This was a great video! Would you say completing bank reconciliations is necessary if I only acknowledge and categorize transactions from the automatic bank feed and don't make any journal entries or manual adjustments? I've found that the the balance from the account is slightly off from what's showing in QB but I'm pretty sure no one has added or deleted anything
Thank you Serina.
You MUST do bank reconciliation EVEN IF you are getting all your transactions from the bank feeds and then adding them from the review list. There are several reasons why this is true.
I hope you will watch the rest of the bank reconciliation playlist.
ua-cam.com/video/rVPMYw84UaE/v-deo.html
Thank again you for the complement and I'm happy to answer more questions for you.
I hope you will click "like" and subscribe.
Good morning, I love your videos! I am attempting to reconcile from 8/2022. I am new at this position and need help figuring out the issue. What's the best way to reconcile adequately when you have no idea if this was an issue from prior. In looking at past reconciliations and reports i gather that the person prior forced the cleared balance without adequately reconciling. Thank you
Thank you but I do have the solution to your problem
If you click in the top right corner of this video you will get the link to the full playlist for bank reconciliation
You need to patiently watch it in proper order because each video is only a few minutes and explains a different aspect about what your asking about.
Towards the end of the playlist,. There's a specific video that addresses doing the first time ever. When you never reconciled before and what the issues could be.
I'm absolutely sure if you watch those that you'll be on target and i'm here if you have any more specific questions
Mark
@@worldwidequickbooks thank you for your quick reply!
hello again. i'm missing the transactions after march 18. what video should i watch in order to input the transactions first before reconciling? the last transactions i inputted are those that are in the FINAL PRACTICE PROJECT.
WOW thank you for being som devoted.
I am happy to help.
Can you send an email to worldwidequickbooks at gmail dot com. I will send you an exel file that you cn import in to a blank, new QBO account. After importing, then you can follow the playlist step-by-step and match what you see.
-Mark
Do you have video about payment processor and how do you match existing invoice with the payment? Thanks
Thank you, Yes I Do! It's #15 in the advanced playlist.please confirm this gives you what you need.
ua-cam.com/video/LyrPAddPjVQ/v-deo.html
-Mark
What if the beginning balance is off but the discrepancy report states no data? How do you correct this type of error?
I've never heard of that situation and quickbooks online does have rare on a and unusual Tech Support issues. However, or, you could try undoing the previous reconciliation and seeing if that particular beginning balance from last month matches up. If it does not then you have to keep undoing until the beginning balance matches and then redo all the reconciliations going forward
Mark
Quick question. Do you have a video on how to fix undiposited funds account, the amount of which was not reversed when the funds was deposited in the bank?
This video explains about under positive funds and it's part of a playlist
ua-cam.com/video/jVyuTqOXqmE/v-deo.html
If you click in the top right corner of the video you can see that the videos close to this video in the playlist also talk about the new ones. And details of undo positive funds.
@@worldwidequickbooks thank you
I am missing the third months transactions. On which video would I find that?
Thank you,
If you click in the top-right corner of this video, you will get the link to the full playlist. f you watch it in proepr order, you will have everything you need. All the videos are in the playlist and if you think there is one missing, please let me know.
-Mark
Hello I have a customer who DOES NOT pay the full invoice that will pay the invoice in increments so I have 4 payments applied to one payment now that I have received the remaining amount of the payment I can not see the invoice in QuickBooks online to reconcile the remaining amount. What do I need to do?
Thank you, you need to explain your question better, if you want me to give you some help and I can if you just explain it better
How to fix bank rec as balance remains not zero. I already re enter the deleted item using the discrepancy report.
Are you saying there's nothing left on the discrepancy report? And it is blank, but the beginning balance does not match from the last reconciliation?
That would not be possible
Please clarify and I'll try to help you
Mark
I started to reconcile Jan 2022 through Dec 2022. My bank is connected but I'm $0.30 off? We just started using QB, what would cause this? I triple checked beginning balance and ending balance.
Thank you Mitzi,
I found that what is most likely, from what you are describing, is that your eyes did not notice the "change column" in some of the cleared checks is different compared to the "change column" in the transactions in yor quickbooks account records. When the cents are off, sometimes you don't notice the last 2 numbers. You just have to look more closely; the difference is there somewhere. Some people feal that it's not worth loosing a whole day finding a "needle in a haystack" and just adjust the IMMATERIAL AMOUNT to owner's equity.
Good luck!
-Mark
Beginning reconciliation
Yes,
Please click in the top-right corner of this video to get the link to the full reconciliation playlist. Watch those videos in proper order and you will see begining reconciliation and everything you need.
-Mark
Please help...I accidentally entered the incorrect beginning balance and I can't figure out how to edit it.
Did you save it already?
Hello. Your video was very helpful; however, my deleted transaction noted deposit of $685 to Other Business Income-Uncategorized. I am unsure of how to re-enter that deposit. Please advise.
Thank you for the complement.
Why can't you re-enter it exactly as it was before it was deleted?
Please click "like" and subscribe
-Mark
Thank you! I am currently working on our reconcile. While working when I pull up reconcile I get the error "Your beginning balance is off by $304.03." When I click on the link to follow in to see where the issue is, the report is blank! HELP!!!!
Trike changing the date range of the discrepancy report and then make sure you click run report after you change the date and if you still see nothing then you have a tech support issue
QB has stopped. What's this all about? allowing me to Add, Save, Void or Delete any and all transactions
Would love to help you. Pelase explain
-Mark
I have a discrepancy and I am getting the comment, "Sorry, can't quickzoom on previous transactions". I have downloaded version and need help.
If your followiung this video step-by-step, and you cannot open something, you may have a tech support issue. That's my only guess unless you missed something in the video.
You may need the "PLUS" version instead of the more affordable version. Q.B.O. support will know for sure if you call them.
-Mark
How can I fix a minus 0.01 on my reconciliation
Thnak you for asking.
The hard way, is to re-do eveything until it is correct. The easy way, which I do not reccomend but people do it, is to create an "other expense" account and make a journal entry (or have the accountant make a reconciliation adjustment) to move the negative 1 cent to the expense account. This expense account will represent the total of all differences in the reconciliations that you had to do this with over all the months that you could not reconcile.
It's not correct but of you have 2,000 transactions on your monthly statement and you tried to reconcile 3 times and spent days and days, then it may be worth it to adjust.
I suggets you click in the top-right corner of this video to get the full bank rec playlist. If you watch it in proper order then you will see the video about adjusting the recniliation and you will understand it ebcause you saw the prior videos.
-Mark
Hello ,i have deleted transaction but i try to re-enter then back in discrepancies again with changed type of reconciled in registrar, how can i fix it ?Kindly help me
You can start fixing it by re-explaining it in a way that people can actually understand what you're asking.
Your question is not a complete coherent understandable question
Mark
@@worldwidequickbooks in Reconciliation,There is a Reconciliation Discrepancy Report which the transaction was deleted (Changed Type is deleted ) as you said in this video the deleted transaction must be re-enter ( i did it and put in R ) after that it's come back in Reconciliation Discrepancy Report With other change type of reconciled in register
@@niyifashavenant4333 Thank you for the clarification.
The report will show the change in the register even though the change is fixing something. The most important thing to check is the begining balance. If it matches the balance on the statement, then you are successful and can reconcile. If not, then keep looking at the descrepancy report until you match the begining balance.
That's a very good and helpful question for everyone. Thank you.
-Mark
@@worldwidequickbooks Thank you Mark
All your videos that I watched are super excellent. I have input the transaction in QBO for January & February by watching your Video which is 3:31:51 hours (ua-cam.com/video/aoWghI3kvpc/v-deo.html). That's why I was able to reconcile January & February 2017. You didn't show the March and April transactions on that video. How can I complete the bank reconciliation for March, April & May? Please help me out. Or, can you refer me to the tutorial link where you showed the March, April & May transactions in QuickBooks online.
Oh thank you so much
The link to the full tutorial is in the description field so please tell me for sure if you found the link in the description field for the full playlist course and make sure you download the bank statements in addition to the transactions so you can follow step by step
It's a full playlist but you should start at the beginning if you have the transactions from the complete tutorial but unfortunately you'll need a few more transactions to have everything for April and May bank reconciliation
Let me know if you want those playlists so you can watch them and enter the additional transactions for April and May
Please confirm you found the link if not then I will send it to you in this reply comment and I will include the other playlist as well
Thanks for being a loyal fan
Mark
@@worldwidequickbooks Thanks for quick reply. I have already downloaded the bank statement file and the company's transactions file. I completed the bank reconciliations for January and February 2017 by watching your playlist, "QuickBooks Online Bank Reconciliations," videos 3 & 4. I can't reconcile March, April, & May because I have no transactions on QuickBooks Online for those months. I'm trying to input transactions in QuickBooks from the Excel sheet. After that, I will try to reconcile the QBO transaction with the bank statement.
Could you please make a video showing input transactions for March, April & May 2017?
Hi there. I have a question. I just started working with a company (which uses QB Desktop) and their bookkeeper left them in the beginning of March. She had not done any reconciliation for the credit card account (which is used a lot) since November 2022. She did enter in the transactions for December. So, I went in and checked them off comparing them to the charges on the statement. All were there. The Difference on the bottom of the reconciliation page read 0.00. So, I thought it was all set. I then went on to work the next months credit card statement and as I pulled up the "Enter Credit Card Charges" and I was looking at the top of the screen and confirmed I had the correct account, then it gave me the option to check off Purchase/Charge or Refund/Credit. and then the Ending Balance stated - 59,650.36 So, I ceased doing anything at this point until I know what to do. This company did their taxes at the end of the year so I am assuming this would be the time to make a change as this would be the charges and the January statement. Can you help me with how to handle this please? Thank you so much for all of your video's --- they have been very helpful for me. I am getting back to working outside of the home with QB Desktop and I am switching over my husbands business to QB Online so I have needed the a lot.
Thank you for asking
I guarantee that if you watch this playlist and proper order. You will have at least most if not all of the answers to the questions you're asking
ua-cam.com/play/PLqRhgBZfJuE6YguKb9DKbzTRlJZB9XUyq.html
You will also be in a better position to clarify. Your question and make it more concise because I do want to help you. But I can't read a massive page or a paragraph. But I'll bet you that if this playlist does not give you what you need. Then you probably just have a few clear questions for me afterwards
Any way it's free and each video is only a few minutes each and as long as you watch It in proper order. You can learn the way you need to learn so give it a try and please stay in touch
Mark
@@worldwidequickbooks ok. I am sorry. I was trying to give a background to help with a proper situation. and I was thanking you for your helpful videos. My bad. sorry. I usually don't ask questions. I won't bother you. apologies