$500k discrepancy between Reconciliation & Account Balance

DebC-TSB · ‎February 01, 2021

To err is human but it takes a computer to really foul things up.

New client, account never reconciled before.

I've been using Quickbooks Desktop since MS-DOS, nearly 30 years, and have never ever seen this happen. Worst yet, I have no clue how to fix it. Is it a QBO glitch? Account reconciled to correct amount - $70k, got a zero (my hero) and yet the balance sheet and register shows over $500k. A picture is worth a thousand words. See below.

I hesitate to call tech support on this one. Anyone else ever seen this? If so, how did you fix it?

DebC-TSB · ‎February 03, 2021

Special thanks to the tech support who helped me figure this out that the culprit was the conversion in 2015. We ran a transaction report with "create date" field and found the problem. Her solution was to keep a $407k journal entry that I could never reconcile in the account. So there was $400k of unreconciled transactions that couldn't be reconciled.. so we were going to live with the $407k adjustment. I was going to explain to my customer that the $407k was a QB Desktop to QB Online conversion glitch and it would forever remain in her QB file.

It seems that QB didn't mark the 2014-1018 records as reconciled BUT they WOULD NOT show up in the reconcile screen. Why? Who knows. Gremlins don't give out their secrets.

So I slept on it. Some of my best solutions are found there. :) This morning, I painstakingly went to the register and "R" each of those "unreconciliable transactions", approx 600. Not pretty but the result was amazing. See pic. I can live with $1k journal entry!!

Oh the joys of conversion... Hope this helps someone else.

View solution in original post

Intuit Zac · ‎February 01, 2021

Hi DebC-TSB,

Thank you for reaching out on this and providing us screenshots.

I would suggest contacting our support team so we can better assist you with this. Here is their contact:

https://help.quickbooks.intuit.com/en_AU/contact

One thing that I notice in your screenshots, the bank account is reconciled through 1/6/2021 on the account history screen but in the reconciliation screen, the statement ending date is showing 3/1/2021. I would suggest double-checking the dates to make sure this is not causing the difference.

Thank you and please let us know if you require any additional assistance.

DebC-TSB · ‎February 02, 2021

Thank you for your reply. Haven't had the best luck with tech support lately. Not a lot of experienced support on the Platinum level as in the old days. Will give the forum a couple of days.

The dates. I double checked my dates and no adjusting entries are dated beyond 12/31/2020. I attempted a reconciliation and did "undo", perhaps that is the date you're seeing.

DebC-TSB · ‎February 03, 2021

Special thanks to the tech support who helped me figure this out that the culprit was the conversion in 2015. We ran a transaction report with "create date" field and found the problem. Her solution was to keep a $407k journal entry that I could never reconcile in the account. So there was $400k of unreconciled transactions that couldn't be reconciled.. so we were going to live with the $407k adjustment. I was going to explain to my customer that the $407k was a QB Desktop to QB Online conversion glitch and it would forever remain in her QB file.

It seems that QB didn't mark the 2014-1018 records as reconciled BUT they WOULD NOT show up in the reconcile screen. Why? Who knows. Gremlins don't give out their secrets.

So I slept on it. Some of my best solutions are found there. :) This morning, I painstakingly went to the register and "R" each of those "unreconciliable transactions", approx 600. Not pretty but the result was amazing. See pic. I can live with $1k journal entry!!

Oh the joys of conversion... Hope this helps someone else.

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$500k discrepancy between Reconciliation & Account Balance