Hi there, sludwig1002.
Let’s work together to address your reconciliation concern and ensure everything is taken care of.
The reconciliation process may result in a discrepancy due to various factors, such as an incorrect starting balance, missing or duplicate transactions, or added transactions that are yet to be cleared by the bank.
To resolve any problems, I suggest looking at your initial, starting, and closing balances. Afterwards, carefully analyze past reconciliations and transactions to spot inconsistencies or unfamiliar entries. Additionally, if your bank has grouped multiple payments into one record, do the same in QuickBooks.
Furthermore, I recommend looking at the transactions in the Reconciliation window. There may be transactions recorded in QuickBooks that do not appear on your bank statement. If you come across any such transactions, here’s what to do:
- Check the transaction date and review your bank statements for that time.
- Note the date and amount of the transaction.
- Run a Past Reconciliation report for those dates.
If you come across a transaction that appears on a previous bank statement but is missing from the reconciliation report for those specific dates, you will have to manually reconcile it. To help you with this process, you can follow the steps below.
- On the left navigation panel, click Transactions.
- Go to the Chart of Accounts.
- Find the account you’re reconciling and click View register.
- Locate the transaction and select it to expand the view.
- If the box in the checkmark column is blank or has a C, ensure that the transaction is accurate.
- Hit the box in the checkmark column until you see an R. If there’s already an R in the checkmark column, leave it be.
- When done, press Save.
Moreover, you’ll also need to review transactions that are slightly off. Sometimes, your bank adds fees to transactions that weren’t included when you entered it into QuickBooks. In that case, you’ll need to record the fees as well.
For more in-depth instructions, please refer to this article: Fix issues at the end of a reconciliation in QuickBooks Online.
For future use, here’s a handy article about reports: Run reports in QuickBooks Online. It offers helpful tips on generating reports that give you a holistic view of your business.
Feel free to ask if you need any further information regarding reconciliation in QuickBooks. I’m here to assist you and provide any necessary support.
