Bank Reconciliation


M

mcp6453

We used QB Pro 2000 until now when we decided to update to QB 2002 Pro.
All went well except when we do a bank reconciliation, the
reconciliation report shows items from as far back as 2001. We are on a
cash basis, but I noticed that the report indicated "Accrual Basis" in
the upper left corner. We went into setup and changed it to cash. If we
re-run the report, which takes a lot of time because we have to uncheck
and then recheck many items, will the report then only include the items
relevant to the current month.

We use Peachtree for another business. Peachtree allows us to reprint a
reconciliation report at any time. QuickBooks does not appear to permit
us to do so. Is that correct?
 
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A

Allan Martin

mcp6453 said:
We used QB Pro 2000 until now when we decided to update to QB 2002 Pro.
All went well except when we do a bank reconciliation, the reconciliation
report shows items from as far back as 2001. We are on a cash basis, but I
noticed that the report indicated "Accrual Basis" in the upper left
corner. We went into setup and changed it to cash. If we re-run the
report, which takes a lot of time because we have to uncheck and then
recheck many items, will the report then only include the items relevant
to the current month.

We use Peachtree for another business. Peachtree allows us to reprint a
reconciliation report at any time. QuickBooks does not appear to permit us
to do so. Is that correct?

Older versions did not have the abiltiy to print prior bank reconcilations.
You are correct.
 
M

mcp6453

Allan said:
Older versions did not have the abiltiy to print prior bank reconcilations.
You are correct.
Older than which version? 2004? Any thoughts on the cash/accrual part of
the question?

Thanks
 
B

Bonnie Carroll

Until the 2004 version, QuickBooks only saved the previous month's
reconciliation report. Starting in 2004 it saves the reports in pdf format
& saves every month.

Regarding cash/accrual, I'm not sure what the question was, but you might
double check your preferences to make sure they're set to cash:

Edit>Preferences>Reports & Graphs>Company Tab
Change Summary Reports Basis to "cash"

Bonnie
www.book-it.biz
 
J

Jessica Schein

mcp6453 said:
We used QB Pro 2000 until now when we decided to update to QB 2002 Pro.
All went well except when we do a bank reconciliation, the
reconciliation report shows items from as far back as 2001. We are on a
cash basis, but I noticed that the report indicated "Accrual Basis" in
the upper left corner.
In the case of a bank rec, there is no difference between accrual and cash
basis. A bank rec is a bank rec.
What's more, as far as I have been able to figure out, QB doesn't properly
distinguish between them since it doesn't deal with journal entries
properly.
But, if your are only cash, then cash basis reports should work OK.

Can you download transactions from your bank? It might save you some time.

We use Peachtree for another business. Peachtree allows us to reprint a
reconciliation report at any time. QuickBooks does not appear to permit
us to do so. Is that correct?
As was stated before, in versions prior to 2004 you could not do that. You
now can. This is one of the few features that Peachtree has done better
than QB.


Jessica Schein
 
M

mcp6453

Jessica said:
In the case of a bank rec, there is no difference between accrual and cash
basis. A bank rec is a bank rec.
What's more, as far as I have been able to figure out, QB doesn't properly
distinguish between them since it doesn't deal with journal entries
properly.
But, if your are only cash, then cash basis reports should work OK.

Can you download transactions from your bank? It might save you some time.





As was stated before, in versions prior to 2004 you could not do that. You
now can. This is one of the few features that Peachtree has done better
than QB.
The problem is that the Reconciliation report is many pages as the
transactions are reported back to 2001, when I began using Pro 2000.
This report is very different from the one I am accustomed to in Pro 2000.
 
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M

Mike Block - QuickBooks Tax Cut C.P.A.

You can reprint reports created in Basic or Pro
with Accountant or other Premier Editions. We
can do pretty much anything in QB remotely,
including transferring a file for something like
this, with a DSL or equivalent connection.

Mike Block - QuickBooks Tax Cut C.P.A.
Intuit paid me to make QuickBooks better!
http://www.blocktax.com/
http://www.quickbooks-add-ons.com/
 

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