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Keith61
Level 1

Issues reconciling credit card

When I called about this issue I got nowhere. And I just don’t have the time for yet another four hour phone call.
Why is this not balanced? The ending balance is correct. The credit is correct the seven charges are correct and yet...there is a $466.98 difference.
Do the math outside of the program the numbers are correct...yet QuickBooks is wrong.
Beginning Balance: 333.97
Charges -314.38
Payment +80.89
Ending Balance 100.48
So how is there a difference $466.98???

7 Comments 7
Kristine Mae
QuickBooks Team

Issues reconciling credit card

Let me help you with your reconciliation issue, Keith61.

 

We'll have a few things to check so we can fix the issue.

 

First, aside from checking the ending balance, we'll have to review the opening balance as well. Let's ensure the amount is accurate.
 

Next, let's check for any edited or delete transactions. It will affect the reconciliation balance.

 

Then, we'll have to look for reconciliation adjustments. It can cause reconciliation errors.

 

For the detailed steps, you can check this article: Fix issues when you're reconciling in QuickBooks Desktop.

 

You can get back to this article if you need more help. We'll be around to assist you. Keep safe!

Keith61
Level 1

Issues reconciling credit card

Everything is correct. the math outside of QuickBooks balances.  Your system does not.

Keith61
Level 1

Issues reconciling credit card

ALSO-If you reverse all the transactions it will balance.  The issue with that is a credit is a credit and a debit is a debit.   I cannot have payments made to the clients account as a debit.  Their P&L will be a mess. 

AlcaeusF
Moderator

Issues reconciling credit card

Hello @Keith61,

 

Thank you for posting here in the Community. I'm here to help you fix the reconciliation in QuickBooks Desktop.

 

This usually happens when there are issues or changes to the transactions. For now, I recommend running a report to isolate and fix the difference.

 

You can use the Reconciliation Discrepancy report. This shows any transactions that were changed and they're sorted by statement dates.

 

Here's how:

 

  1. Go to the Reports menu.
  2. Hover over Banking and select Reconciliation Discrepancy
  3. Select the account you're reconciling and then select OK.
  4. Review the report. Look for any discrepancies.
  5. Talk with the person who made the change. Once you know, edit the transaction as needed.

 

Also, I suggest unchecking the Hide transactions after the statement's end date box in the Reconcile window (see screenshot below). That should help you find items that were marked cleared.

 

 

If the problem persists, I suggest contacting our Customer Support Team again. They have the tools unavailable here to further check the issue in the company file.

 

Let me walk you through how: 

 

  1. Go to the Help menu of the company file, then select QuickBooks Desktop Help.
  2. Hit the Contact us link.
  3. Click Search for something else.
  4. Enter your concernthen tap Search.
  5. Click on Start a Message.

 

I've also attached an article you can use to resolve data damage, as well as how to download and use the application: Fix common problems and errors with the QuickBooks Desktop Tool Hub.

 

Drop me a comment below if you have any other questions about the reconciliation. I'll be happy to help you some more.

Keith61
Level 1

Issues reconciling credit card

That does not account for the math done outside the program as being correct AND if you reverse everything it balances in quickbooks.  We do not do reconciliation discrepancies.  I do not have the time for yet another 4 hour phone call.  

Joesem M
Moderator

Issues reconciling credit card

Thanks for getting back to us, @Keith61. Allow me to chime in and share additional details to fix the difference.

 

Your balance will be incorrect if a previously cleared transaction in your register was voided, deleted, or changed, or a new transaction was added and cleared since your last reconciliation. 

 

For now, I'd suggest following the steps shared by my colleague AlcaeusF to run Reconciliation Discrepancy and make sure to uncheck Hide transactions after the statement's end date box in the Reconcile window. The Previous Reconciliation Detail reports can check and compare balances and determine the last correct reconciled transaction. Just go to your Banking menu to find these reports.

 

Another report that can help you look for recent transactions that may have been cleared or uncleared unintentionally is the Bank Account QuickReport. You can have this by going to the Lists menu and then Chart of Accounts.

 

Also, you can do a special or mini-reconciliation to correct your opening balance. It's a process that uses an "off-cycle" reconciliation date to correct. Let me guide you on how:

 

  1. Go to the Banking menu. 
  2. Choose Reconcile.
  3. Select the bank account with the transactions (original deposit) you need to reconcile.
  4. In the Statement Date field, enter a date (between your last reconciliation and the next scheduled one) for an "off-cycle reconciliation." 
  5. Enter the balance of your last successful reconciliation in the Ending Balance field, then click Continue.
  6. In the Reconcile window, check off the transactions you are fixing and re-reconciling.
  7. Make sure the Difference field shows $0.00.
  8. When everything looks good, click Reconcile Now.

 

You can learn more about this process through this article: Reconcile previously deleted and re-entered transactions.

 

Upon sharing the steps above, I'd still suggest consulting your accountant. They can help you resolve the difference and check your account to ensure your books are accurate.

 

Additionally, you can learn more about fixing beginning balance issues through this article: How to fix the beginning balance discrepancies when doing reconciliation. It includes topics about undoing previous reconciliation and how to redo it.

 

Please let me know if you have other reconciliation concerns or inquiries. I'm just around to assist you further. Take care always.

Keith61
Level 1

Issues reconciling credit card

If you would take a moment and actually do the math using a calculator you will see that the math is correct and quickbooks is wrong.  If you do not know how to balance an account please find someone who can show you.

 

The math is correct.  The beginning balance is correct, the charges are correct, the payment is correct, the ending balance is correct.  It balances on my 10 key.  It does not in quickbooks.

 

Please send this up the food chain to get it fixed.

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