How to Cleanup Old Uncleared Transactions in QuickBooks

Hi Ruth. I need help cleaning up the reconciling windows (getting rid of very, very old transactions that no longer apply) so that when I go to reconcile, I only see what is relevant (not entries from many, many years ago). The goal is I want to be able to press “select all” and have everything that is there match the bank statement.

Thank you for your assistance!

Very old transactions probably just need to be voided/deleted. However, you need to be careful about changing financials in any period you’ve already paid taxes for. You will likely be decreasing revenue and/or expenses which will also probably increase or decrease taxable income.

I recommend checking the dates on all your old transactions and printing a trial balance for each year that will be affected. Then delete or void all the transactions and compare the new trial balances with the old. Then create a journal entry to return the trial balance to the old balances so and reverse it this year. That moves all the corrections to this year’s taxable income even though you’re deleting transactions in prior periods.

You might want to consult with your tax professional before doing this as well. It’s possible they’ve already corrected for the old transactions on your tax returns but didn’t give you the correcting entries to fix QuickBooks.

Keep in mind that if you’re writing checks you’ll almost never be able to use “select all” because checks don’t always clear in the same month they’re written.

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This article is provided for informational purposes and is not intended to be construed as legal, accounting, or other professional advice. For further information, please consult appropriate professional advice from your attorney and certified public accountant.

Ruth Perryman - QuickBooks Specialist Written by +Ruth Perryman

Ruth is the an Intuit Premier Reseller that offers great deals on QuickBooks POS and QuickBooks Enterprise. She has provided expert QuickBooks help to thousands of businesses all over the world since 1996.

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