Home Page link  

Reconciling a specific month when other months transactions are in window

  
Groups | Search | About
User Password
Register Now! Lost Password?

QuickBooks Discussion board - Discussions about the popular financial software by Intuit

 Post an article  get this group's latest topics as an RSS feed add this group's latest topics to your My MSN content add this group's latest topics to your My Yahoo content  add this group's latest topics to your Google content  YahooMyWeb Yahoo!  Google Google  Windows Live Favorites Windows Live  del.icio.us del.icio.us  digg digg  Add to Netscape Netscape
Subject Author Date
Reconciling a specific month when other months transactions are in window Gabrielle 07-13-2006
Posted by Allan Martin on July 13, 2006, 1:38 pm
Please log in for more thread options
> Tara thanks for the help.
> I guess my question comes downt to, if I want to reconcile from
> January-July, I should enter the begining balance as the opening
> balance of January 1, and the ending balance as the closing balnace of
> June X (off bank statements, and then go through and clear transactions
> as they appear on my statement?
>
> Im using Quickbooks for Mac Pro 2006, and I dont see the sort by
> cleared transactions options.


Does not matter what version you are using. If you are a novice using the
software then common sense dictates that you prepare a reconcilation one
month at a time not six at a time.




>
> Again, thanks.
>
> scfundogs wrote:
>> > Ive been trying to reconcile my checking account, but I keep running
>> > into a problem. How do I reconcile say, for the month of June, when
>> > there are transactions from July ion the reconcile window. I want to
>> > reconcile my accounts historically, but I cant get the window to
>> > "focus" on just one month, and thus the balance is never accurate.
>>
>> If you reconcile correctly it won't matter what shows in the window.
>> With
>> the exception of people/companies that only do a handful of transactions
>> a
>> month there's almost never a time when a reconciliation window won't have
>> newer transactions listed & unreconciled.
>>
>> Make sure the beginning balance in QB's reconciliation window matches
>> that
>> of your bank statement. Enter the ending balance in QB per your bank
>> statement. Check off all items appearing on your bank statement. The
>> bottom difference should be zero when all is correct. Reconcile in QB
>> and
>> you're done.
>>
>> If you want to see the check register show the balance per the
>> reconciliation then choose to sort the register by cleared status (an
>> option
>> at the bottom of the window). This will show you everything cleared with
>> a
>> checkmark and the remaining uncleared transactions. You can then view
>> the
>> balance at the last checked/cleared transaction and it'll match your bank
>> statement.
>>
>>
>> --
>> Tara
>



Posted by scfundogs on July 13, 2006, 1:43 pm
Please log in for more thread options
> Tara thanks for the help.
> I guess my question comes downt to, if I want to reconcile from
> January-July, I should enter the begining balance as the opening
> balance of January 1, and the ending balance as the closing balnace of
> June X (off bank statements, and then go through and clear transactions
> as they appear on my statement?

I'm sorry, I didn't even read your first paragraph! Yes, you can do what
you describe but you really should take the time to do each bank statement
individually.

--
Tara



Posted by HeyBub on July 13, 2006, 5:07 pm
Please log in for more thread options
Gabrielle wrote:
> Ive been trying to reconcile my checking account, but I keep running
> into a problem. How do I reconcile say, for the month of June, when
> there are transactions from July ion the reconcile window. I want to
> reconcile my accounts historically, but I cant get the window to
> "focus" on just one month, and thus the balance is never accurate.
>
> Thanks for the help

Typically, the problem is in the other direction. That is, you have
transactions in June that don't show up until July's bank statement (you
wrote a check on June 30th and it cleared your bank July 10th).

The bank doesn't know as much as you -- you will almost always have more
transactions to screen than the bank reports.

It might be easier to reconcile your bank stuff month by month rather than
bi-annualy.



Posted by Gabrielle on July 14, 2006, 11:38 am
Please log in for more thread options
Hey, Thanks for the help.

I guess Im specifically confused about how , if I were to reconcile
month by month, enter in a beginng balance and ending balance and
reconcile that month, when there are other months transactions in
there, because the "difference" figure at the bottom of the reconcile
screen is taking into account those other months. Does that make
sense?

HeyBub wrote:
> Gabrielle wrote:
> > Ive been trying to reconcile my checking account, but I keep running
> > into a problem. How do I reconcile say, for the month of June, when
> > there are transactions from July ion the reconcile window. I want to
> > reconcile my accounts historically, but I cant get the window to
> > "focus" on just one month, and thus the balance is never accurate.
> >
> > Thanks for the help
>
> Typically, the problem is in the other direction. That is, you have
> transactions in June that don't show up until July's bank statement (you
> wrote a check on June 30th and it cleared your bank July 10th).
>
> The bank doesn't know as much as you -- you will almost always have more
> transactions to screen than the bank reports.
>
> It might be easier to reconcile your bank stuff month by month rather than
> bi-annualy.


Posted by Allan Martin on July 14, 2006, 11:55 am
Please log in for more thread options

> Hey, Thanks for the help.
>
> I guess Im specifically confused about how , if I were to reconcile
> month by month, enter in a beginng balance and ending balance and
> reconcile that month, when there are other months transactions in
> there, because the "difference" figure at the bottom of the reconcile
> screen is taking into account those other months. Does that make
> sense?

Agreed, you are totally confused. It may be time to call your accountant in
to teach you how to reconcile a bank account. The difference figure does not
take into account other months.


>
> HeyBub wrote:
>> Gabrielle wrote:
>> > Ive been trying to reconcile my checking account, but I keep running
>> > into a problem. How do I reconcile say, for the month of June, when
>> > there are transactions from July ion the reconcile window. I want to
>> > reconcile my accounts historically, but I cant get the window to
>> > "focus" on just one month, and thus the balance is never accurate.
>> >
>> > Thanks for the help
>>
>> Typically, the problem is in the other direction. That is, you have
>> transactions in June that don't show up until July's bank statement (you
>> wrote a check on June 30th and it cleared your bank July 10th).
>>
>> The bank doesn't know as much as you -- you will almost always have more
>> transactions to screen than the bank reports.
>>
>> It might be easier to reconcile your bank stuff month by month rather
>> than
>> bi-annualy.
>



Similar ThreadsPosted
Can I get a month-by-month report for the entire year from QB2002? January 5, 2007, 10:00 pm
Exporting P&L with Months in one spreadsheet October 23, 2006, 2:54 pm
HOT Reqs : Microsoft Business Solutions | 12+ Months | Chicago, IL (Functional and technical) May 14, 2007, 4:41 pm
Reconciling CC Account June 14, 2008, 10:17 pm
Reconciling accounts (or not) July 12, 2008, 11:56 am
Reconciling Euro account June 6, 2007, 6:22 am
Best way to set up a "virtual" account for a specific job January 21, 2007, 10:02 pm
Accountants organization: This is national fig month November 9, 2006, 3:45 pm
Invoiced by Month - How can I create this report? May 25, 2007, 10:27 am
QB 2008 - reconciling 3 years worth of registry.. May 13, 2008, 4:15 pm

Contact Us | Privacy Policy
This site is not affiliated with Intuit - makers of Quickbooks and Quicken software
This site is not affiliated with Sage Software - makers of Peachtree accounting software
XML SitemapXML Sitemap