Ask the Accounting Community

Hi All,

Moving a QBO client to QB Desktop. To get the data over we are simply loading the trial balances. We are running into an issue on the cash side. The Cash balance for the last trial balance we loaded is showing as an open Deposit item on the Bank Rec. Any Idea on how to clear out this open item without screwing up the GL cash balance?

Thanks!

------------------------------
Andrew Murphy CMA
Controller
San Diego CA
United States
------------------------------

Hi Andrew,

I would adjust this entry for any "outstanding" or "uncleared" bank transactions both deposits and checks. Then when you go to complete your next bank reconciliation, you can clear the prior cleared transactions in your bank account and begin clearing your current transactions. 

Thanks! 

------------------------------
Kirsten Phenicie
Director/Manager
Tecumseh MI
United States
------------------------------