Mini reconciliation is a process by which you reconcile Un-reconciled (transactions that have been previously reconciled but now are being displayed as raw entries) transactions. Mini reconciliation is thus a kind of rescue effort that you put in to do a quick reconciliation.
Possible Causes:
Many problems might cause this error where you have to again reconcile previously reconciled entries.
Some of the possible errors are:
- You might have undone your previously reconciled entries.
- The entries now might have been deleted.
- The reconciled entries have been converted from the Mac version to the Windows version.
- You created the reconciled entries in the back file than in the original QuickBooks file.
How to Do Mini Reconciliation in Quickbooks Desktop: The only way to fix your issue…
1. Condition One: When the Ending balance is known
If you already know the ending balance of your most recent reconciliation then the quickest thing you can do is follow the steps below:
- Within your QuickBooks account, click on the banking tab.
- Within the drop-down menu, click on the reconciliation tab.
- A new window will open here. You will now have to choose the account for which you want the reconciliation.
- Date field: Enter any date that you can think of. Please note that this date should be between your previous reconciliation and the reconciliation that is scheduled next.
- Ending balance field: In this field, you will be required to enter the reconciled amount that you remember during this period.
- Select transactions that you think have been reconciled leaving such a balance.
- Make sure that the difference balance is now $0.00. If you are seeing such a balance then click on the reconcile now tab. All the transactions will now match your banking.
2. Condition Two: Ending Balance not known
- Choose the reconcile option from the banking tab at the top navigation bar.
- Choose the account that needs to be reconciled.
- Date: Choose an Off-cycle date.
- Ending Balance: Here you will need to enter a dollar amount. Not to worry as this will be a neutral figure which will help you start the reconciliation process. We will remove the same in the next few steps.
- Choose the entries that you want to reconcile. As you make the selection you can find the balance that is being affected at the bottom of the screen.
- Now press the modify button and this will give you the reconciliation window.
- Now the balance that you got from the previous window will have to be entered in the ending balance field.
- Once done, click continue.
- Your difference amount should be “0” now.
- Once you see it, click on the Reconcile tab and your entries should be reconciled. If you still don’t see it then give us a call and we will guide you step by step.
Experts Advice
If you're still struggling with mini reconciling in QuickBooks, then please consider getting in touch with the QB experts at smbaccountants.com.
Frequently Asked Questions
What is reconciliation in QuickBooks?
Reconciliation is a method in which you can properly match your credit card account or bank account to the purchases in QuickBooks. QuickBooks lets you perform this method regularly.
What can be the reasons why users find the reconciled transaction unreconciled?
However, there can be various reasons behind this error.
Here are some of the possible reasons mentioned:
- By mistake, you have clicked the Undo Last Reconciliation.
- Some modifications have been made in the reconciled accounts, or have been deleted entirely.
- The name of the cleared transactions was listed in the account list.
- Funds were moved into its sub-account from a previously reconciled bank account.
- The company has been converted to Desktop from QuickBooks to Mac to Windows or QuickBooks Online.
How do I reconcile previously deleted entries in QuickBooks?
To reconcile the previously deleted entries or re-enter the same. This process is called mini-reconciliation, or special reconciliation.
To do so, there are mainly two methods involved in it:
Method 1: This approach needs a date of reconciliation off-cycle and from the most recent reconciliation; you will also know the ending balance.This method involves two steps:
- Reconcile a bank account
- Reconcile a credit card account
Method 2: This approach requires a date other than the most recent reconciliation, and does not demand that you know the ending balance from the last reconciliation.
This method involves two steps:
- Reconcile a bank account
- Reconcile a credit card account.
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