Reconcile transactions that are older than your opening balance in QuickBooks Online



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This can be the reason why the auto-add option on your bank rules doesn’t apply. Let me share with you some basic troubleshooting steps that will help you fix it. Create a new account transaction to match with an imported bank line.

Error: Transaction already exists – save anyway?

From the Account list, select the bank or credit card account. For details, see Running an Auto-Create Rule. You can create targeted rules so specific transactions are automatically accepted into your books from the Bank transactions page. To automatically accept transactions that meet these conditions and move them to the In QuickBooks tab. This sets a new opening balance for the account. Since the new opening balance matches your bank records, everything is balanced.

  • Review your transaction history by running the Recent Automatic Transactions report.
  • Select the Transaction type, Category, Tags, and the Payee to apply.
  • You enter the balance of your real-life bank account for whatever day you choose.
  • To require that any condition can be met for the rule to be applied, select any.

You can view which downloaded transactions were recognized by a bank rule. While inside your For review tab, select Recognized from the All transactions ▼ dropdown menu. This will list all transactions that were recognized by any bank rule. You’ll also see a “Rule” label added to the transaction. From the in ▼ dropdown, select a bank or credit card account, or select All bank accounts.

Run a Recent Automatic Transactions report

In the Action column, select the dropdown arrow. If you find a scheduled transaction that didn’t run, manually create it by using the template. To require that any condition can be met for the rule to be applied, select any. Or, if you’ve already reconciled the account in the past, here’s how to fix those issues.

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Now that your opening balance is fixed, you’re ready to start reconciling. If I get the pending transaction count to lower than 100 then it eventually starts working again. Give that a try if you have a lot of pending matches. The description is a simplified version of the bank text to make it easier to understand. For example, QuickBooks might simplify bank text by just giving the vendor name.

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You can assign splits by percentage or amount. To add more line items as needed, click Add line. You may not see all the fields listed above. For example, class is only available if you’re using QuickBooks Plus and you’re tracking classes. If NetSuite fails to generate an auto-create rule, see Troubleshooting Automatic Transaction Creation Rules.

This makes your first reconciliation much easier. If these criteria are met, then the box to automatically create general ledger transactions is active and checked by default. When you match your bank data, the auto-create rule is generated. When the difference between the selected imported bank data item and account transaction is zero , click Match. If the auto-add in feature in the bank rules works, then they go back to your regular browser and ​​​​​​​clear its cache.

  • The first 5 conditions for each rule from QuickBooks Desktop are migrated.
  • You can set a single rule with up to 5 conditions.
  • To submit your matched transactions, see Submitting Matched or User-Cleared Transactions.
  • To reorder your bank rules priority, select reorder and drag the rule to your desired order.

They’re already in QuickBooks. You can simply leave your opening balance alone and start tracking new transactions going forward. The opening balance tells QuickBooks when you want to start tracking transactions in an account.

To run the long term liabilities examples-create rule, see Running an Auto-Create Rule. If this box is active, NetSuite checks the box by default. Bank Balance, if your most recent account statement contains an account balance and statement date. You can add additional rule conditions to the rule and define the actions of the rule. For more information, see Editing Auto-Create Rules. All other transactions must have a single Expenses line item.

You can create rules that automatically categorize transactions for you. The more QuickBooks uses your bank rules, the better it gets at categorizing. After a while, it can even scan transactions and add details like payees. When you create a new account in QuickBooks, you pick a day to start tracking transactions.

Applies the rule to unaccepted transactions and displays “RULE” in any rows that meet the conditions you specified. You just need to add them to your books. To add additional conditions for the same rule, click Add line and enter the conditions. To require that all the conditions must be met before the rule is applied, select all above the list of conditions. What to do with unaccepted bank transactions that meet particular conditions.


Do you want to check if your scheduled transactions ran successfully? We’ll show you which report to run and what to do if anything is missing. Learn how to check your scheduled transactions and add any that are missing.

In the Conditions fields, specify whether the rule applies to Description, Bank text, or Amount. Then select Contains, Doesn’t contain, or Is exactly to decide how QuickBooks applies the rules. This will show which transaction is causing the error to appear.

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If you decide you need your older transactions, you have to edit the opening balance and the date. This resets the starting point for the account so QuickBooks doesn’t count transactions twice. Since your opening balance summarizes all of your older transactions, you don’t have to enter them at all.

Sign in to your bank’s website. Set your account so you can see the balance for the new date you want to use for the opening balance in QuickBooks. Go to Bookkeeping or Accounting, then select Chart of accounts . To submit your matched transactions, see Submitting Matched or User-Cleared Transactions.

It summarizes all of your older transactions up to that point. The account transaction moves to the Review subtab. If the Make Auto-Create Rule From Selected Transactions box is checked, an auto-create rule is generated. An auto-create rule can only be applied to a single account. If everything looks good, selectAdd to move the transactions directly into an account in QuickBooks.

Automatically moved them to your books. They appear in the In QuickBooks tab with an Auto-add icon next to “RULE.” 11. Click Split if you want the rule to divide a bank transaction between different categories, tax codes, or classes.