Reconcile old accounts

fiona12345

I have taken on a position where there are accounts that have never been reconciled, going back a few years. For example customer deposits! Should I go back and reconcile all transactions that I can so long as I put in a current date as the reconciliation date i.e 30/12/2019? Can I just tick off and reconcile a few at a time so long as I keep reconciling to the same date? That way at least I can see what is remaining and deal with any errors in the current financial year.

Tracey_H

Hi @fiona12345 

 

Thanks for your post.  You definitely can reconcile those old transactions if possible. Reconciling a transaction doesn't make any changes to the general ledger accounts, it just allows you to check all data is correct. If I remember correctly from my bookkeeping days you can reconcile to any date in the reconcile accounts window. So, for example, you should be able to enter the 30 June 2016 and reconcile to that date, then 31 July 2016 etc. 

 

If you have any amounts or balances that you can't reconcile it is best to check with the accountant about how to deal with those transactions.

 

Please let me know if you need further help.

 

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