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printed paycheck differs from bank statement

While reconciling bank statement, I discovered a 1 cent difference in the statement vs the actual printed check.  the statement and the check are the same, QB is short by 1 cent.  How do I correct this and why did it happen?

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printed paycheck differs from bank statement

Hello there, @marcia1.

 

Thank you for posting in the QuickBooks Community. I'd be happy to help share some information about the 1 cent difference and how to correct this in QuickBooks Online.

 

You may have a small difference that is the result of an error, an overpayment, or an underpayment, and due to rounding in paycheck or tax calculations. To correct the balance, you can create a journal entry.

 

Here's how:

  1. At the top right, click the Create (+) icon and select Journal Entry.
  2. Under the Journal date enter the date the transaction took place.
  3. Enter the required information.
  4. Continue to enter distribution lines until the sum of the Debit column entries equals the sum of the Credit column entries.
  5. Click Save.

To learn more about entering journal entries in QuickBooks Online, you can also watch this tutorial video: How to Use Journal Entries.

 

I'd also recommend consulting your accounting professional for more expert advice about this and to make sure your books are recorded correctly.

 

Keep me posted on how it goes. I'll be happy to help you further with correcting the reconcile difference. Have a great day.

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