Manually reconcile a debt payment

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  • Updated 5 days ago
Is there a way to individually change the status of a debt payment to reconciled, like we can do for expense items?  I had accidentally made my car expense payments the old way, even though I set up debt tracking for the loan.  When I went back and deleted the expense entries and added the debt payments, there was not a way to mark the debt payments as reconciled (the expense item that I deleted had been reconciled - so the debt pymt just replaced the expense).  If I try to mark the debt payments as cleared, it messes up the reconcile balance - I need to be able to go in and tell the system that these are already reconciled.  (I did not see a way to undo a full reconcile, which would be my other option - undo my last 6 months of reconciliations and redo them).
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Heather B

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Posted 5 days ago

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Alex Park, Official Rep

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Hi Heather,

Thanks for the question. First, to clarify a few quick points: It is not possible to undo a Reconciliation, and it is not possible to manually change the Reconciliation status for individual transactions other than Expenses/Credits.

In your specific situation, what I would recommend is fudging the numbers slightly so that you can get those transactions Reconciled and your numbers all righted for the future. To be clear, we don't typically recommend this course of action for "fixing" Reconciliations, but for this specific case this is the route to take. You can do this by following the instructions below:
  1. Leave the transactions un-Cleared for now, and start a new Reconciliation for the Account you want to Reconcile.
  2. Set the Statement Balance and Date to the proper statement balance and statement date and start the Reconciliation.
  3. Check off all of the transactions you're actually Reconciling, as well as the Debt Payments that were previously Reconciled Expenses.
  4. You won't be able to finish the Reconciliation, so copy or write down the "Left to Clear" number and Postpone the Reconciliation.
  5. Start the Reconciliation again, but this time add the Left to Clear balance to the Previous Balance and start again.
  6. You should be able to finish the Reconciliation and Reconcile those transactions.
Hope that helps!
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Heather B

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Wow!  Your response was so quick.  It worked perfectly.  Thank you!