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Forum
-> Working Women
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amother
OP
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 Tue, Oct 17 2023, 1:48 pm
Hi I'm working in a new Job , I'm doing the qb
I'm good at qb but not amazing whiz
I'm trying to clean up a big mess
After alot of work and checking again and again
The p&l looks good
But the balance sheet is very very off
I see the bank balance in qb do not Match the bank numbers
I went very far back (years ) and can't find the mistake
Is there a way to make a journal entry to be able to fix this bank balance goign forth?
Which account will the money be put in? Hpw can rectify this?
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amother
Hyssop
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Tue, Oct 17 2023, 2:16 pm
First make sure the monthly statements are all reconciled correctly.
Then check:
Are there any checks written that are not cashed?
Are there customer payments received but not deposited in qb account?
Are there created but not printed checks?
You can also run a report to see which bank transactions aren’t reconciled, and are just sitting there messing up your numbers. Filter and sort by cleared transactions.
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amother
Aster
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Tue, Oct 17 2023, 2:56 pm
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As above. If you can reconcile all the bank statements you have access to, then adjust the balance to the opening bank balance of the first statement you have (+ - any reconciling items) to retained earnings. As of the date of the statement.
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amother
OP
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Tue, Oct 17 2023, 2:59 pm
| amother Aster wrote: | | As above. If you can reconcile all the bank statements you have access to, then adjust the balance to the opening bank balance of the first statement you have (+ - any reconciling items) to retained earnings. As of the date of the statement. |
Yes I reconciled correctly for past 6 years
They are all correct...so now what do I do?
Cam you walk me Through it 😃... take the difference and JE
Bank and retained earnings ?
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