Reconciliation in QuickBooks is done to make sure that your account accurately reflects your business transactions. If you have previously reconciled an account but it shows a different balance in the next reconciliation, your account has reconciliation discrepancies.
Reconciliation discrepancies may be caused by one of the following reasons:
Depending on the cause, follow these steps to fix reconciliation discrepancies:
There are several reports available in QuickBooks that will help you identify discrepancies.
Reconciliation Discrepancy Report: This report shows transactions sorted by statement date that were changed since the last reconciliation.
Missing Checks Report: This report helps you verify missing transactions.
Transaction Detail Report: This report helps you verify transactions that were changed or modified.
A forced previous reconciliation which resulted to a reconciliation adjustment may also cause discrepancy. To fix this issue, you need to review the Reconciliation Discrepancy account for inappropriate adjustments.