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P
PPON
June 5, 2022
Question

Reconciliation differences in QBO vs bank statement

  • June 5, 2022
  • 1 reply
  • 14 views

Hi, 

I'm reconciling Nov 2021 and went thru my bank statement vs QBO and got the difference to $0.00 but the payments and deposits are different on the bank statement than they are on QBO. Is that possible for it to reconcile but those be different? 

Thanks

1 reply

J
JonpriL
Level 9
June 5, 2022

Hi there, @PPON.

 

I'll share insights about how reconciliation works in QuickBooks Online.

 

Reconciling transactions in QuickBooks is best when the actual bank statement is a match. This is to ensure your past and future session won't have any issues with getting the $0.00 difference.

 

Let's consider changing the order of your transactions first to determine why your list in the register is different. You can do so by clicking the Payment Deposit column in the reconciliation you're working on.

 

And since the difference is already 0 after entering the statement ending balance and ending date, you may proceed with reconciling your transactions even if changing the order of your transactions didn't make any changes.

 

However, I still recommend contacting your accountant for the best accounting practices to follow while working with your reconciliation. Use this link if you haven't found someone you can work with: QuickBooks Certified ProAdvisor.

 

I'm adding this reference that'll guide you anytime you need help while doing or fixing a reconciliation: The Reconcile Workflow in QuickBooks. You may also review reports to get the data of your past reconciliations: How to View, Print, or Export Reconciliation Report?.

 

If you've got questions other than working with your transaction reconciliation, please let me know in the comments. Use the Reply button below and include my name, @JonpriL, so that I can continue assisting you. Take care always, @PPON!

P
PPONAuthor
June 7, 2022

 @JonpriL  Hi and thanks for the reply. So i clicked the payment/dep column but what was that supposed to do? Thanks.  

C
Charies_M
Level 9
June 7, 2022

I'm here to share additional information about the reconciliation process, PPON.

 

By clicking the Payment and Deposit columns, you're able to compare and review the transactions to make sure they are matched. You can also ask for help from your bookkeeper for more guidance.

 

 You can check out these articles that can give some insight into reconciliation:

 

I want to make sure that you're able to get back to running your business as soon as possible. I'll be back around shortly.

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