QBO reconciliation discrepancy

I'll help ensure you can reconcile your account successfully, Advancer.

When reconciling an account in QuickBooks, it is essential to ensure the accuracy and completeness of all transactions. The process involves comparing the transactions recorded in QuickBooks with those on your bank statement to identify discrepancies. Once you have identified the discrepancies, you must review and adjust them to match the bank statement. After making the necessary adjustments, the ending balance in QuickBooks should match the balance on your bank statement, resulting in a difference of $0.00. This process is essential in ensuring that your financial records are up-to-date, accurate, and error-free.
 

If you encounter any discrepancies in the ending balances, don't worry. Follow these steps to identify and resolve any issues before completing the reconciliation. But before we proceed, here are the possible reasons why there are discrepancies in your account: 

• Someone entered an incorrect ending balance at the start of the reconciliation.
• There are missing or duplicate transactions in QuickBooks.
• Someone entered transactions into QuickBooks that still need to clear your bank.

Let's start by verifying the accuracy of the opening and beginning balances before moving forward. 

Before starting the reconciliation process, double-check the ending balance entered from your bank statement to ensure accuracy. Make sure you entered the correct amount.
 

1. While you're reconciling an account, in the Reconciliation window, select Edit info.
2. Review the Ending balance and Ending date.
3. Check your bank statement. Make edits as needed.
4. When you're done, select Save.

If there's still a difference in QuickBooks, move on to Step 3. Refer to this article for detailed information on Step 3: Fix issues at the end of a reconciliation in QuickBooks Online.

I'll also include these helpful guides regarding reconciliation workflow and troubleshooting:

• Learn the reconcile workflow in QuickBooks
• Fix issues the first time you reconcile an account in QuickBooks Online
• Fix issues for accounts you've reconciled in the past in QuickBooks Online

Our doors are always open to help you, so please don't hesitate to revisit us if you need assistance reconciling your accounts. Have a great day!

This answer did absolutely nothing to help my problem. I already stated that:

1. the beginning balance is correct

2. the ending balance is correct

3. all charges match exactly

4. all payments match exactly

5. the 'difference' amount is correct before checking off any charges or payments

Once I begin to check off any items, the 'difference' amount goes off by $5973.16. When all items have been matched and checked off, it still says I am off by $5973.16. I can't figure out why it suddenly changes once I begin to reconcile items.

I am having the exact same issue and can't find answers. Did you figure it out?

same here 

I am having similar issue.

I want to ensure you can successfully reconcile your account in QuickBooks Online (QBO), @mkpume. 

Have you tried fixing the reconciliation discrepancy using the provided information given by my peer above? If not, I suggest you to do so.

If the issue remains, I suggest contacting our Phone Support team for further investigation. They have all the necessary tools to check on your account and walk you through the resolution. Here's how:

1. Go to the Help icon in the top right-hand corner.
2. Select Search, then press the Contact Us button.
3. Enter your question in the box and hit Continue.
4. Choose the best way you'll want to reach out to us.

They can accommodate you Mondays to Fridays from 6 AM to 6 PM PT and Saturdays from 6 AM to 3 PM PT.

Once everything's fine and you successfully reconcile your account, you can generate and export a reconciliation report in QuickBooks. 

If you have more questions about reconciling your account or any other QuickBooks concerns, never hesitate to leave your reply below.