QuickBooks Reconciliation Discrepancy

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How to Fix QuickBooks Reconciliation Discrepancy

 

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QuickBooks Payroll Error PS060

QuickBooks Reconciliation Discrepancy · Balances Don't Match

How to Fix QuickBooks Reconciliation Discrepancy

QuickBooks reconciliation shows a difference between the statement ending balance and the QuickBooks balance -- a number that won't go to zero no matter how many transactions you check off.

At QuickFix Bookkeeping, reconciliation discrepancies come from transactions edited or deleted after being reconciled (most common), an incorrect opening balance, or a transaction cleared in the wrong period. The Reconciliation Discrepancy Report identifies exactly what changed.

How to Fix QuickBooks Reconciliation Discrepancy

METHOD 1Run Reconciliation Discrepancy ReportFind what changed after reconciliation
1

Reports and gt; Banking and gt; Reconciliation Discrepancy and gt; select the bank account and gt; run. This report lists every transaction that was modified or deleted after it was reconciled -- this is almost always the source of the discrepancy.

2

Fix each changed transaction: click through to each transaction listed and gt; restore the original amount or re-enter deleted transactions and gt; re-reconcile those specific transactions. The discrepancy clears as each is fixed.

METHOD 2Check and Fix Opening BalanceDiscrepancy from first reconciliation
1

Reports and gt; Banking and gt; Previous Reconciliation and gt; select the earliest reconciliation and gt; confirm the beginning balance matched the actual bank statement on that date. If not: the opening balance was wrong from the start. Create a journal entry for the difference dated on the first reconciliation date to correct it.

METHOD 3Undo Prior Reconciliation and RedoMultiple periods affected
1

Banking and gt; Reconcile and gt; select the account and gt; Locate Discrepancies and gt; Undo Last Reconciliation. Undo the most recent reconciliation and gt; fix any transactions that were changed and gt; redo the reconciliation with the correct statement balance. Repeat for each affected period working backwards until the discrepancy is resolved.

Reconciliation Discrepancy Spanning Multiple Years?

Let QuickFix Bookkeeping Reconcile Your QB Books.

Multi-year reconciliation discrepancies require a full transaction audit working backwards from the present -- we identify every changed transaction and bring every period into balance.

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