QB Issue Resolution:
“In the chart of accounts it’s set up as, “Chase Ink” (parent) and “Sub name 1234″ (sub).”
If there is/was more than One Card, this is fine. You would Reconcile the parent, and never list any Charges here.
“It looks like some months the parent account was reconciled and other months the sub account was reconciled.”
Everything from the Subregister also shows in the Parent. Like this:
Parent <== reconcile this level, if the Statement is a Company Account
card 1 <== spending details here
card 2 <== spending details here
And you Split the payment into sub levels 1 and 2. Remember to Never Post to the parent, with that structure in place.
Or, they set up a sublevel that should never have existed; merge in into the Parent.
“I’ve done some research and figured out that when you have a sub account transactions need to be entered to the sub account”
Specifically, where it came from is what is used.
“but reconciliations need to be done through the parent account. I went through the sub account to undo almost all of the reconciliations to try and start over from when the beginning balance was correct, but that never occurred. ”
Just Ignore the beginning balance. Work to getting the Ending to match, knowing you affected Cleared Status. Re-checkmark that historic stuff. You typically still end with Difference = 0 = are back on track.
“Good news is the statement charges match all receipts and charges entered in QuickBooks. I’m just not sure how to figure out the reconciliation portion of it.”
Then you Will Reconcile to the Ending balance. Ignore Beginning.
Resolution for Issue 'How to reconcile and unreconcile parent and sub credit card accounts' available: Yes (Solved).
Source: Intuit Community forum.
How to reconcile and unreconcile parent and sub credit card accounts: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.Support for Company account
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