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Level 1

My reconciliation for May 2019 shows 76 payments for $32,050.18 when in fact I've only selected 71 payments for $31,292.23. Why is this number incorrect?

 
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QuickBooks Team

My reconciliation for May 2019 shows 76 payments for $32,050.18 when in fact I've only selected 71 payments for $31,292.23. Why is this number incorrect?

Hi there, @elorial-monette.

 

You'll want to review the opening balance. It needs to match the balance of your real-life bank account for whatever day you choose to start tracking the account in QuickBooks.

 

If the account's opening balance doesn't match its bank statement, please refer to this article: Fix an opening balance to match a bank statement. It lists a number of possible scenarios for this specific issue, then provides you steps on how you can resolve each of them.

 

Also, you can review if there are missing transactions and you have to add them to fix the reconcilliation discrepancy. For more detailed steps on how to add transactions in QuickBooks: Assign, categorize, edit, and add your downloaded banking transactions.

 

Please know that I'm just a post away if you have any additional questions. I'm here to help. Take good care.

Highlighted
Level 1

My reconciliation for May 2019 shows 76 payments for $32,050.18 when in fact I've only selected 71 payments for $31,292.23. Why is this number incorrect?

I’ve had already done the things you suggested below before I asked for help.

The transactions do no add up in Quickbooks, unless there are transactions I can’t see. I’ve taken the transaction from QB and lined them up against the transaction in my bank statement and they both add up to $31,292.23. However, QB has $32,050.18 for 76 transactions with I’ve only selected 71.

Please take a look at my reconciliation and see this for yourself.

Sincerely,

Elorial Monette
[removed]

 

Highlighted
QuickBooks Team

My reconciliation for May 2019 shows 76 payments for $32,050.18 when in fact I've only selected 71 payments for $31,292.23. Why is this number incorrect?

I'll be glad to help out in fixing your previous reconciliation report, @elorial-monette.

 

It could be that someone might accidentally add these payments to your reconciliation for May 2019. This can be the reason why you have these amounts in your reconciled report.

 

We can manually check your reconciliation report to find these five payments. This way, we can unreconcile them to correct your discrepancies. Here's how:

 

  1. Go to Reports menu and search for Reconciliation reports.
  2. Look for the affected reconciled account and click View report.
  3. Check each section where you can see each payment. Look at the five payments which should not be part of your reconciled transactions.

 

Once identified, go back to your bank register and unreconcile these transactions. Let me show you how:

 

  1. Go to the Accounting menu and click Chart of Accounts.
  2. Find the account and select View register
  3. Click the transaction you want to unreconcile.
  4. Review the check column. If the transaction is reconciled, you’ll see an “R.”
  5. Select the box and keep clicking it until the box is blank. This removes the transaction from the reconciliation.
  6. Click Save. Then close your register.

 

You can also reach out to your accountant to help you locate these five transactions. They'll be able to pinpoint the root of this discrepancy to ensure your books are accurate.

 

In addition, you can check this article if you encounter beginning balance issues in your past reconciliation report. Fix beginning balance issues if you've reconciled the account in the past QuickBooks Online.

 

If there's anything else I can do for you, please let me know. I'll be around to help you.

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