ABA file is calculating incorrect balance record

Legacy KB ID: 2009

Question

Why doesn't my balance record total the amount of the transaction within my ABA file?

Answer

This is caused by online transactions remaining in the online banking centre prior to upgrading.

The QuickBooks 2005 /06 upgrade notes specify that   Quote- "you will need to complete all online banking files before upgrading to QuickBooks 05/06" if you  overlooked this information; the online account will result in corruption and cannot be used for online payments after upgrading.

There are two options to resolve this issue do the following.

Re-install and Restore (preferred option):

You should reinstall QuickBooks 2004 and restore a backup prior to upgrading the file (doing so will mean loosing all transactions you've entered since  upgrading your file in QuickBooks 2205/06). Finalise the online transaction within the online banking centre by exporting those transactions into an ABA file.  Once the online centre is clear, upgrade this data file to QuickBooks 2005/06 again.

Start a new bank account:

If the first is not an option and you wish to retain the data in QuickBooks 2005/06 you'll need to create a new bank account with online access. You should also  consider moving all unreconciled transactions from the old bank account to the new one and transferring the register balance of the old account to the new one.  The following process describes the simplest method to use. We recommend you create a balance sheet report and a backup of your data file prior to following  this procedure, once you're finished you should print another balance sheet report to compare the bank balances.

Note! Technical support recommends the 'Re-install and Restore' procedure, the following instructions should be only used after serious consideration to the situation. No further information or support will be issued on this procedure, we recommend the user seeks help from a Quicken Accredited Consultant if they need  further assistance with this procedure. For a list of Accredited Partners in your local area go to https://www.quicken.com.au/Services/FindAnAccreditedPartner.aspx

Step One - Create a new bank account and enable online access

See the QuickBooks help index under 'accounts, adding a new bank account to your chart of accounts' for instructions.

Step Two - Reassign all unreconciled transactions from the old account to the new account (unreconciled transactions will appear in the register without a tick)

 1. From the QuickBooks Lists menu, choose Chart of Accounts.

 2. Double-click the old account to open its register, and then click to select a transaction in the register.

 3. Click the Edit Transaction button.

 4. In the Bank Account field, click the drop-down list to change the account from which the entry will now be made.

 5. If the transaction was marked as 'Bank (online)', change this to 'Cash/Cheque' instead, and then click Save & Close.

 6. Repeat steps 3 through 6 for each transaction in the register.

Step Three - New account opening balance

In this step you need to identify the final register balance of the old account and transfer this amount to the new account. You can do this in a number of ways we recommend you use the transfer transaction window. See the QuickBooks help index under 'transferring funds, between balance sheet accounts'

Step Four - Reassign the online transactions required to include in the ABA file export.

 1. From the QuickBooks Lists menu, choose Chart of Accounts.

 2. Double-click the new account to open its register, and then click to select the required online transaction in the register.

 3. Click the Edit Transaction button.

 4. Change the selection from 'Cash/Cheque' to Bank (online)', and then click Save & Close.

 5. Repeat steps 3 through 5 for each transaction in the register you wish to include in the ABA file.

Optional stage - Dummy reconcile

This part is optional to this procedure. You may want to process a dummy reconciliation for the new bank account so that when you reconcile against the next bank statement it will display the correct opening balance. The ending balance should be the same amount you transferred in 'Step Four'

Step Five - Export the transactions from the online banking canter.

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