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K
Kellyfl
February 21, 2019
Solved

Reconciliation discrepancy

  • February 21, 2019
  • 2 replies
  • 14 views

Okay, so I think I found where my discrepancy is but no idea how to fix it.

 

I am trying to reconcile May and I've checked that beginning balance and Statement ending balance are right.

On the May bank statement says I have 5 deposits and 45 payments and I matched the deposits but on my reconcile window says that I have matched 46 payments but that is not right! I have counted them many times and as the bank statement says, there are 45 payments. I have a $3,394.56 difference but I have matched all the transactions and I still can't figure out why Quickbooks says there are 46 payments when I only count 45 payments (checks and other charges) on Quickbooks and bank statement.

 

Help Please!!

    Best answer by john-pero

    Uncheck "hide transactions after statement date" , sort transactions by amount. That should help you find the one future item that was marked cleared 

    2 replies

    john-pero
    john-peroAnswer
    Level 12
    February 21, 2019

    Uncheck "hide transactions after statement date" , sort transactions by amount. That should help you find the one future item that was marked cleared 

      K
      KellyflAuthor
      February 21, 2019

      Thank you! This really helped!

      A
      acmlslong
      August 3, 2023

      Thanks for the screenshot, @test32.

       

      Before you can resume reconciling your account, you'll have to find the discrepancies in the reconciliation. In the red box, Your account isn't ready to reconcile yet, you can press on the blue hyperlink We can help you fix it to see the transactions that are causing the discrepancies. 

       

      You can also run a Reconciliation Report to view previous reconciliations to see if everything has balanced out, as well as see what transactions were recorded. Here's how to run the report:

      1. Go to Reports.
      2. Type Reconciliation Report in the Find report by name search bar.
      3. Select Reconciliation Reports.
      4. Choose the Account for the reconciliation report you want to view.
      5. From the Report period drop-down arrow, pick the reconcile period.
      6. Hit View Report.

      I'd like to provide you with a couple of Community Articles that you may find useful:

      If you need further assistance, please don't hesitate and reach back out to me! I'm just a Reply away.

       

       

       

      **Say "Thanks" by clicking the thumb icon in a post
      **Mark the post that answers your question by clicking on "Accept as solution"


      I'm hoping that you can help.  I've reconciled my account several times and this month i went in and my beginning balance is all of sudden over by over $12,000.  When I hit "help me fix it", there's only one check that shows that it was deleted after reconciling but that amount was only $560.  There are no other items listed.  What else can I do?  I went back and checked that everything in my last statement was in fact still reconciled and I also looked into my bank register to see if anything had been changed to C from R and I don't see anything.  Can you help?

      J
      Jesseov
      April 28, 2020

      I'm having the same issue!!

      I have counted the number of payments on the statement 209, I have gone through the quarter and ticked each one off, one by one and quickbooks counts 212 payments.

       

      I'm not sure where the extra three are hiding but I've repeated this 4 times.  There is definitely 209 on the statement and going through one by one by one we somehow arrive at 212.

       

      I've started by clearing all ticks and it starts at 0 and at some point 3 hidden transitions arrive on the tally and there is a discrepancy of $1,877.50.  I'm really confused! Please help.

      J
      JamesDuanTQuickBooks Team
      QuickBooks Team
      April 28, 2020

      Let's figure out why we have these extra transactions when you reconcile the account, Jesseov.

       

      Reconciliation discrepancies are usually caused by the following factors:

      • duplicate transactions
      • transaction was associated to a different bank account
      • previously reconciled transactions were edited or deleted
      • the opening balance or an account is incorrect

      I'd recommend reviewing your previous period's reconciliation. This will help us determine whether the opening balance for the current period is correct. You can follow the steps in this link: Fix beginning balance issues if you've reconciled the account in the past QuickBooks Online.

       

      In addition to that, you visit these links about reconciliation in QBO:

      Let me know how this goes so we can further assist you.

      J
      Jesseov
      April 28, 2020
      I found three transactions for some reason were marked with a “C” in the register that tallied to $1,877.50.  I reconciled in register and marked them with an “R"
       
      It then said the beginning balance is off, as they were from a previous reconciliation.  I then realised they were in fact duplicates.
       
      What was confusing was that I was selecting the period 30/12/20 to 30/3/20 and these 3 payments were showing in the tally of the total payments.  It would have been nice if it was highlighted that the three hidden transactions were from the previous period. 
       
      I have also realised why I was getting duplicates in the first place.  I had been using a third party plugin to scan receipts and these weren't always matching what was in the banking tab.  Maybe safer to add and match transactions in the banking tab in future.
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