How to Cleanup Old Uncleared Transactions in QuickBooks
Thank you for your assistance!
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.
Comments are closed