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How To Reconcile A Bank Account In QuickBooks Pro

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Chelsea Krause

Chelsea Krause

Managing Editor - Accounting
Chelsea Krause is a writer who has specialized in accounting for over three years and is a QuickBooks Certified User. She has a BA in English & Creative Writing from George Fox University and studied at the University of Oxford as well. She has been quoted in Forbes and her work appears in Startup Nation, Small Business Bonfire, and Women on Business.
Chelsea Krause
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    You note that when matching transactions the check date on QB will be different from the check date on the bank statement and that is okay. However, is it still okay when you cross over a year end? I use cash basis accounting and have the following situations that i’m Not certain how to handle :
    1) I have checks that I cut in 2017 but don’t show in QB because they have not been cashed. Does this effect accounting? I want to now enter these checks so they aren’t forgotten about and am not sure what date to use or if it matters 2017 vs 2018?
    2) I have a check that was written in 2017 but not recorded in QB. This check was lost and needs to be voided and reissued. Again, i’m Not sure what date to use to enter the original check to void or what date to use for the reissued check?

      Chelsea Krause

      Hi Kristin,

      Thanks for reaching out! In this case, I would definitely contact an accountant for the most accurate information and instructions, though I’ll try to help as best as I can.

      For your first question, since you’re using cash-basis accounting, you recognize income when your customers actually pay. In the same way, you recognize expenses not when you send the check, but when they are actually cashed, so it’d count as a 2018 expense, not a 2017 expense. Here’s an article from QuickBooks that explains this concept a bit more: .

      For your second question, you can create a check using the 2017 date, save it, and then void the check within QuickBooks. Then, when you reissue the check, you can create a new one using the 2018 date (add if you want to remember that it’s a reissued check, you can note that in the memo of the new check).

      Again, I’d double check with your accountant as they know the best methods for closing the books at year end, but I hope this helps!

      Best wishes,

      -Chelsea Krause

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