Hi there, have taken on a new client and I have had to learn quickbooks, which I getting to grips with, but could someone advise 'maybe Amanada' thanks, which is the best way to:-
correct an entry i.e. the wrong amount has been entered that has been for example VAT reconciied and bank reconciled
only bank reconciled or only VAT reconciled
and if neither of the above i.e. not bank or VAT reconciled
I know that I will be dealing with this shortly as their account are in a mess!
Thanks again
Sorry forgot to say using quickbooks pro 2010
-- Edited by Julie Hall on Friday 29th of July 2011 06:37:23 AM
If nothing has been reconciled you can go into the transaction (open it up) and amend it accordingly and then save and close at the end. I'm on QB pro2008 but I think they are similar. If the VAT has been reconciled and 'Filed' on QB then I think if you amend the transaction and say the VAT was more I think the difference will show on the next VAT return. I haven't tried this myself so not really too sure what would happen to the amounts. I haven't deleted a payment thats been reconciled either. I try only to delete or amend a transaction thats not been reconciled otherwise they could end up in a worse mess. I suppose you could always do it with credits abit like what you would do if its in Sage. If their books are in a mess check that they have changed the VAT codes to 20% correctly as if they haven't it will cause a headache!
I always think of QB the same as sage, I think you said in an earlier post that you have used Sage, except in QB there is no 'Maintenance' to change things you just go into the transaction itself, which is a little dangerous if in the wrong hands. You may find that they have not reconciled anything in which case it would be easy to go into the transactions and correct them before reconciling.
Theres another guy on here quite abit who uses QB maybe he can help as well.
Thanks Amanda for your reply, they have not reconciled any transactions for a year!! should be an interesting job to get sorted out!!, I am sure I may have other questions, but I am enjoying using a different package to sage.
If they haven't reconcilled anything for a year then it shouldn't be too bad, start from the beginning and change accordingly and then reconcile say a month at a time or a quarter at a time, I suppose it depends how big they are.
Thanks, thats my plan is to do a month at a time and take it from there, what also helps is their accounant I have worked with for years so he can also advise me on problems/queries as I go, and the client knows that its a mess and knows it will take some time to sort out, so it will be a very good learning curve etc. No doubt will be speaking to you soon. Thanks
