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Intuit
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Fix issues when you're reconciling accounts in QuickBooks Online

Learn what to do if your accounts in QuickBooks Online don't match your bank statements at the end of a reconciliation.

When you reconcile an account, you compare transactions in QuickBooks with the ones on your bank statements. At the end, the difference between the two records should be $0.00.

If it's not, don't worry. Here's how to find and fix issues so you can finish reconciling.

New to reconciling? Start with our reconcile guide.

Make sure you review your opening balance before checking your beginning and ending balances.

  • Someone entered an incorrect ending balance at the start of the reconciliation.
  • There are missing or duplicate transactions in QuickBooks.
  • Someone entered transactions into QuickBooks that hasn't cleared your bank yet.
  • If you disconnect and reconnect an account from online banking, QuickBooks may download duplicate transactions. If you already reconciled the original transactions, QuickBooks will count them twice.

Step 1: Review the opening and beginning balance

If you haven't already, review your opening and beginning balances. When you know they're accurate, you move on to Step 2.

Step 2: Check the ending balance you entered

When you start a reconciliation, you enter the ending balance from your bank statement. QuickBooks checks against it for accuracy. Make sure you entered the opening balance correctly.

  1. While you're reconciling an account, in the Reconciliation window, select Edit info.
  2. Review the Ending balance and Ending date. Make sure they match your bank statement.
  3. Make edits as needed.
  4. When you're done, select Save.

If there's still a difference in QuickBooks, move on to Step 3.

Step 3: Combine multiple transactions into a single transaction

If your bank recorded several payments as a single record, you should do the same in QuickBooks.

If payments in QuickBooks are individual transactions, put them into the Undeposited Funds account. Then make a Bank Deposit to combine them into a single record. This process ensures QuickBooks always matches your bank statements.

If there's still a difference in QuickBooks, move on to Step 4.

Step 4: Narrow your search and eliminate what you know is correct

Now that you've checked your ending balance for issues, you know you have an accurate endpoint. We can quickly narrow down which transactions are causing problems.

Physically mark the transactions on your bank statement that match QuickBooks. These aren't the source of the issue. You know they're correct.

Now you have a much shorter list to work with. Move on to Step 5.

Step 5: Enter transactions that aren't in QuickBooks

Before changing anything else, let's make sure you have everything in QuickBooks.

If your accounts are connected to online banking, review and categorize all of your downloaded transactions. You can't reconcile them until you do.

Then review the list of transactions in the Reconciliation window. If there are transactions on your bank statement that aren't in QuickBooks:

  1. In QuickBooks, go to the Sales or Expenses menu.
  2. Search by the amount or other details for transactions you see on your bank statement but not in QuickBooks.
  3. If you find a transaction, select and open it.
  4. Check the Deposit to or Payment account. Make sure the transactions are in the correct account. Select a different account if you need to. 

If you don't find a transaction that's on your statement, enter it as a new sales receipt or expense. Use your bank statement as a guide.

When you're done, move on to Step 6.

Step 6: Fix transactions that aren't on your bank statement

Are there transactions in the Reconciliation window that aren't on your bank statement? If there are, don't add them to your current reconciliation.

You might have missed the transactions on a past reconciliation, or they might be duplicates. Check the transaction dates and your bank statements for those dates. Then review your past reconciliation reports.

Reconcile transactions you missed on a past reconciliation

If the transaction was on a previous bank statement and wasn't included on your past reconciliation in QuickBooks, you can add it manually.

  1. Go to the Accounting menu. Then select Chart of Accounts.
  2. Find the account you’re reconciling and select View register.
  3. Find the transaction and select it to expand the view.
  4. If there's already an R in the checkmark column, leave it alone. This transaction may be a duplicate.
  5. If there isn't an R,  make sure the transaction is accurate.
  6. Select the box in the checkmark column until you see the letter R.
  7. When you're done, select Save.

Move on to Step 7.

Remove duplicate transactions

If the transaction is on one of your past reconciliations in QuickBooks, it may be a duplicate. Only delete it if you're absolutely certain it's a duplicate or error.

If you aren't totally sure, talk to your accountant. If you don't have an accountant, here's how to find one.

If you know you can delete it:

  1. Go to the Accounting menu. Then select Chart of Accounts.
  2. Find the account you’re reconciling and select View register.
  3. Find the transaction and select it to expand the view.
  4. Select Delete and then Yes to confirm.When you're done, move on to Step 7.

Step 7: Edit transactions with slightly different amounts

If a transaction in QuickBooks almost matches your bank statement but the amount is slightly off, edit it. This can happen if banks add fees that weren't included when you entered the transaction into QuickBooks.

Important: Only do this if you know for certain the transaction in QuickBooks matches your statement.

  1. In the Reconciliation window, find and select the transaction.
  2. Select Edit and review the transaction.

If the fee wasn't included in the original transaction:

  1. Select the + New button.
  2. Select Bank Deposit.
  3. Follow the steps to add a bank or processing fee to the account you're reconciling.
  4. In the Memo section, add a note about which transaction it's tied to.

Finish reconciling 

Now that your accounts are balanced, you can finish reconciling.

If you need complete steps, check out our reconcile guide.

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