Hello Tina, reconciliation issues can arise from oversights in recording transactions, duplicate entries, or deleted transactions that affect prior periods.
To start, please confirm that the beginning balance matches the prior statement's ending balance, and the ending balance matches the current bank statement exactly. You can do it by clicking Edit info at the top of the Reconciliation screen.
After that, you may review your Audit Log to see if there were edits, deletions, or newly added back‑dated transactions that could have caused the reconciliation issue.
Please be aware that if any of these changes affect your beginning balance, you will see a message before you start reconciling. Click on the We can help you fix it link to open your discrepancy report.
Next, look for deleted entries dated after your last successful reconciliation. Identifying these will help explain what caused the discrepancy in your beginning balance.
Once you’ve identified the deleted transactions, recreate them as they appeared on your discrepancy report.
After recreating the transactions, proceed to reconcile them manually:
- Go to Transactions, then select Chart of Accounts.
- Find the account where you entered the transaction and choose View Register.
- Locate the recreated entry and select it to expand the view.
- Check the box in the checkmark column until you see an R.
- Click Save.
After you’ve reviewed everything on the discrepancy report, the Total Discrepancy Difference should be $0.00. Verify the beginning balance in QBO again. Once confirmed, select Resume Reconciliation to continue with the reconciliation process.
Additionally, if you're connecting to online banking, match and categorize all downloaded entries before initiating the reconciliation process.
Feel free to revisit this thread if you have further questions or need clarification.
