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Active Member

Bank reconciliation ending/beginning balance don't match

I am accustomed to reconciling bank statements.  In August, the beginning balance on the reconciliation form in QB does not match the previous month's ending balance. It doesn't match on the screen however on the print out of the previous month's reconciliation the ending balance is the correct beginning balance for the month.  So QB printout and the reconciliation form on QB differ by that amount. 

The difference is large: more than $1200. I have checked the Audit Trail report and found nothing.  I checked the entire previous month's printed out  reconciliation against QB just as a precaution.  No problem.   

I went ahead and reconciled August and the difference is the same as the difference in the beginning balance.  

What else can I do to track down the problem?  The amount is too large to ignore.  

Thanks for you help!
Solved
Best answer 12-10-2018

Accepted Solutions
ProAdvisor

Sounds like an item in the check register got uncheck. It...

Sounds like an item in the check register got uncheck. It should have displayed to be reconciled screen. Or something got deleted. The the deleted reports.
16 Comments
Not applicable

I am having the same issue.  Was your problem ever resolved?

I am having the same issue.  Was your problem ever resolved?
Established Community Backer ***

Try file>utilities>verify data and rebuild data.

Try file>utilities>verify data and rebuild data.
Active Member

Thanks for responding.   Good idea.  I recently had an In...

Thanks for responding.   Good idea.  I recently had an Intuit support person do that for the first time with me.
ProAdvisor

Sounds like an item in the check register got uncheck. It...

Sounds like an item in the check register got uncheck. It should have displayed to be reconciled screen. Or something got deleted. The the deleted reports.
Active Member

I checked both of those reports and looked at the entire...

I checked both of those reports and looked at the entire check register and found nothing.  Any other suggestions?
Active Member

Look in your check register for items that have been clea...

Look in your check register for items that have been cleared AFTER the date of your last check reconciliation. I JUST NOW found mine. There was nothing in the reconciliation discrepancy reports and every month's statements cleared deposits/debits matched. I somehow managed to check an entry that was AFTER the date of the last statement. Go in, uncheck those entries and that should fix your problem.

Established Member

Re: Bank reconciliation ending/beginning balance don't match

I am having the same problem, but I have un-reconciled all the way back to the beginning of a bank account (April '18) and it STILL shows a negative $5,000+ beginning balance, but there are no entries in the QB Bank Account that pre-date April '18.  I've verified & rebuilt the data already.  No luck.  Any other advice?

QuickBooks Team

Re: Bank reconciliation ending/beginning balance don't match

Hi there, AMPRVA.

 

Thanks for taking the time to visit the Community. I'd be glad to help you get the beginning and ending balances to match for your reconcile.

 

There are few reason why these two balances may not be matching up. Some of these reasons may include uncleared checks or duplicate transactions.

 

I've got a couple articles for you that will walk you through fixing the beginning and ending balances. This first one covers what to do when the opening balance is wrong: https://quickbooks.intuit.com/community/Banking-and-bank-feeds/My-reconcile-opening-balance-is-wrong....

 

This next write-up shows you the steps for correcting balances if previously reconciled transactions were modified: https://quickbooks.intuit.com/community/Banking-and-bank-feeds/Zero-or-incorrect-Beginning-Balance-i....

 

This information will allow you to get everything matching up nicely. Feel free to leave a comment if you have any additional questions.

Established Community Backer ***

Re: Bank reconciliation ending/beginning balance don't match

Try simply Ignoring the beginning balance. Use the known Ending balance and reconcile as usual. You likely will find an Uncleared historic transaction, mark it, and the difference will be 0 and you are back on track. This is why you never also had to keep Undoing reconciliations. This is called an Interim Reconciliation or Mini-Rec process. You use that process, including Ignoring the Beginning balance, when you did some housekeeping that affected Cleared Status, or you deleted and recreated transactions, such as Transfers needed splits, so your replaced them with Checks, etc.

Community Contributor *

Re: Sounds like an item in the check register got uncheck. It...

Most probably I am also facing same problems. But I have huge difference between my real bank account and QB bank account and I unable to get that how should be fix. Should I pass a adjustment entry for that or should I do something else. Could you please guide me.

 

Thank you

Rohit

QuickBooks Team

Re: Sounds like an item in the check register got uncheck. It...

Hi @Rohit,

 

I'm here to guide you how you can fix the differences between your accounts.

 

There are several reasons why these two account balances are not matching. One of these are have modified, deleted, or added to your old reconciled transactions.

 

If you have previously reconciled an account but it shows a different balance in the next reconciliation, your account has reconciliation discrepancies. To resolve this, please follow the steps to fix the issue.

 

Here's how you can check for reconciliation discrepancy report:

 

1. From the Reports menu,

2. Select Banking then click Reconciliation Discrepancy.

3. Review the report to identify any discrepancies.

 

Once done, if you can't find any discrepancies, you can verify your accounts if there's a missing transactions. See the steps below:

 

1. From the Reports menu, then choose Banking.

2. Click Missing Check.

3. Choose the appropriate account, then select OK.

4. Review the report transactions that don't match your bank statement.

 

You can refer to this article for more detailed steps to fix the issue of reconciliation discrepancies.

 

As always, you can contact our QuickBooks Support team if you need assistance with the steps. This way, they can pull up your account in a secure environment and help you navigate using one of their tools like screen sharing.

 

That should get you fixed right up. Let me know how it goes or if you're referring to something else by leaving a comment. I'm always here to help. Have a great weekend.​

Community Contributor *

Re: Sounds like an item in the check register got uncheck. It...

Dear @ShallyMarR 

Thank you for your prompt reply.

Yes it was very helpful for me and I understood.

 

Thank you

Rohit

Community Contributor *

Re: Sounds like an item in the check register got uncheck. It...

Hi @ShallyMarR,

 

I was one more query like I have rental business and in 2018 the rental income showing huge amount more than 2017. So what could be reason to hike income even I know that our income should not be increase because the customers number are same. But I have make few tenants inactive and it's showing deleted in brackets of transactions. So can we delete those transactions which have inactive(deleted) have added in bank of QB than may be income will reduce. Or there is occurred issue from undeposited fund because we have lots of transactions in undeposited fund from 2016. Or you have any solutions to reduce income..

It may be possible of  duplicates deposits then how we can find duplicates deposits, is there any key notes to find duplicates deposits?

Thanks in advance for your prompt reply 😊...

 

Thank you

Rohit

QuickBooks Team

Re: Sounds like an item in the check register got uncheck. It...

Thanks for getting back to us with the additional information, Rohit.

 

Let's run the Profit and Loss standard report to check why you're income increased. You can follow the steps below:

  1. Go to Reports
  2. Select Company Financial to choose Profit and Loss Standard.

 

You can customize this to check if there's a duplicate deposit, please follow these steps:

  1. Click Customize Report.
  2. Click Filters.
  3. Click Transaction Type.
  4. Select Deposit.
  5. Click OK.

 

Or you can press CTRL+F to see if you the income transaction. Click the duplicate transaction and delete it by pressing CTRL+D on your keyboard.

 

Let us know how it works for you. We'll be right here to help you. Enjoy your day!

Experienced Member

Re: Bank reconciliation ending/beginning balance don't match

I am having this same problems which resulted after I changed from Mac to WIndows.

Anyone else have this problem and how did you resolve it?

QuickBooks Team

Re: Bank reconciliation ending/beginning balance don't match

Hello there, @lmargolis

 

When you convert QuickBooks Mac to the Windows version, some transactions may get unreconciled. This causes the program to have an incorrect beginning balance.

 

To help fix this, let's first run any of these reports to locate the unreconciled transactions. You can also review transactions to see if there are edited, deleted, or cleared transactions on these reports. 

 

You can perform the steps provided by ShallyMarR above on how to run the first report. To pull up the second report: 

  1. Go to Reports at the top menu.
  2. Select Accountant & Taxes, then choose Audit Trail.
  3. Set the Account filter to the account being reconciled.
  4. Choose Customize Report.
  5. Go to the Filters tab, then choose Account from the filters.
  6. Select the appropriate account from the Account drop-down. 
  7. Go to the Display tab. Set the Date range
  8. Click OK.
  9. Review if any of the transactions in the report can account for the discrepancy.

 

Once verified, you'll have to re-enter or edit the transactions. Then, reconcile the account again. 

 

However, if the balance is zero, you can create a journal entry to recreate the opening amount. Then, perform a mini-reconciliation to correct it. For detailed steps, see the To correct a zero balance section through this article: Zero or Incorrect Beginning Balance

 

I want to make sure that your account accurately reflects your business transactions. With this, check out this article for further troubleshooting steps on how to fix discrepancies: Resolve Reconciliation Differences

 

I'm just a comment away if you need anything else. Have a great day.