After migration - balances don't match.

[quarfie]

I just migrated from Desktop to Online.

7 accounts have slight discrepancies ranging from 1 cent to 8 cents.

2 accounts (Retained earnings and A/P USD) have a discrepancy of $3865.92. Note that the foreign currency balance of A/P USD is correct. Only the home currency (CAD) value is wrong. 

The other accounts are regular Canadian dollar accounts although I suspect that all of the discrepancies must be due to some difference between how Quickbooks Desktop & Online handle currency conversion (or a glitch in the migration process).

Is this a common issue? Is there any solution?

I could do a currency adjustment & journal entry to fix the values as of the end of the last financial year, BUT I would like to have an accurate history in my file! After examining just one of the 1 cent discrepancies, I found that the error jumped around (in the range of a few pennies) over many years, so there are many transactions coming through with discrepancies. The account didn't match until I went back to 2008 and then jumped around every year. There are many thousands of transactions and due to a different ordering between Desktop and online within the same days, manual comparison to find the bad transactions would be a nightmare.

[JessT]

Hi quarfie,

There are certain limitations when exporting data from QuickBooks Desktop to QuickBooks Online. This is due to the differences in the platforms, and some features in the desktop version are not available in QBO.

In cases like this, we'll need to check the transactions causing the discrepancies, which is doable if you have a few transactions. However, I'd agree with you that it isn’t easy to check thousands of them, and the fastest way to resolve the discrepancies is by creating adjustments or journal entries. I would suggest reaching out to an accountant to help you with the adjustments.

If there's anything that we can help, feel free to add a comment below.