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(@002270831)
Joined: 10 months ago
Posts: 7
01/07/2020 11:40 pm  

Hello QBO experts!

I have a rejected transaction on the bank statement and in bank feed in QB. The rejected transaction appears as a deposit on the checking account. How properly post this transaction to balance my bank reconciliation? If I exclude it, reconciliation gives me a difference in this amount. If I post it to the reconciliation discrepancy account, It increases expenses in P&L. Any advice or solution will be helpful!


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(@casey-4)
Joined: 11 months ago
Posts: 120
02/07/2020 1:19 pm  

The QB file should match the bank statement.  If the transaction is on the bank statement, it will need to be in the bank account, in order to reconcile.  Was the rejection only in the bank feed?  If so, just manually enter it to the register.  If it was rejected after the current bank statement, then that part of the transaction will show up on the next statement.

OR maybe i am not understanding the issue?


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(@002270831)
Joined: 10 months ago
Posts: 7
02/07/2020 1:25 pm  

@casey-4

Rejected transaction showed up on bank statement and it was loaded to bank feed also. 


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(@casey-4)
Joined: 11 months ago
Posts: 120
02/07/2020 1:30 pm  

So, was it posted to the bank account or not?  Your original post i understood that it was on the bank statement, but maybe that is not the case.  if it is not on the bank statement, don't check it off in your reconciliation.  if it was on the bank statement, then enter it to your bank account.

QB reconciliation should match what is on your bank statement.


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(@002270831)
Joined: 10 months ago
Posts: 7
02/07/2020 1:38 pm  

@casey-4 yes, it was on the bank statement and I coded it to reconciliation discrepancies account and it's giving me 0 to balance reconciliation. I just, not sure is I coded properly this transaction in QB. Thank you a lot for your patience with my question.


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(@casey-4)
Joined: 11 months ago
Posts: 120
02/07/2020 1:47 pm  

I would NOT post it to reconciliation discrepancies!  Post it correctly to an account in your COA.  If it was a deposit, post it to Income, or Equity.  If it was an expense, post it to the correct expense, or if a liability payment, post it to the correct liability account.


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(@002270831)
Joined: 10 months ago
Posts: 7
02/07/2020 2:39 pm  

@casey-4 Thank you for your advice! I will do - post to the appropriate account.


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