We appreciate your sharing detailed information on your concern and for the diligent efforts in reviewing your books, Taylor.
To start, could you confirm the exact balance your books should reflect? This will help us pinpoint the cause of the $170 discrepancy more effectively.
Here are some possible reasons for discrepancies like this:
- Calculation or Recording Errors in Your Books
- Bank Fees or Charges that have not been recorded.
- Outstanding checks or payments that you've recorded but haven't yet cleared the bank.
- Bank Errors or Adjustments: For example, the $170 could be an adjustment, refund, or correction applied by the bank.
- If the beginning balance in your QBO account is incorrect or unverified, it can impact your totals.
We recommend comparing your transactions line-by-line on your bank statement and your book to verify that every deposit, withdrawal, fee aligns and your QuickBooks beginning balance matches with your statement. This process will help you identify any missing or mismatched transactions.
Once you've identified the causes of the $170 discrepancy between your bank statement and your book, you can resolve this by either deleting transactions that shouldn’t be there or adding missing transactions to ensure both records align.
If you have any questions or require additional assistance, please don't hesitate to leave a comment below.
