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Reconciliation discrepancy

Forum|Forum|7 years ago
February 21, 2019
2 replies
11 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!!

QuickBooks Online

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

john-peroAnswer

Level 12

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

Thank you! This really helped!

S

SarahannC

Level 9

So something seems terribly wrong... Two things to note:

1. When I run the audit log, I see 74 transactions deleted over the past month -- include Journal Entry 1! I know that I did not go in and delete these. I do recall that I was having a problem with quickbooks and for awhile had to hit "refresh" every time I wanted to enter something. Could this be related in some way?

2. When I go to my bank account and hit reconcile, see the alert for the beginning balance discrepancy and hit "help me fix it", the report only generates one listing of a single check that was deleted -- yet it is showing up in my back register (as are the other transactions that were supposedly deleted) saying it has been reconciled. Despite this I attempted to add the check back in and I was alerted that, sure enough, another check already exists with this number.

Could I have a glitch in my system?

I appreciate you for coming back and providing further details, acmlslong.

Refreshing QuickBooks shouldn't normally delete existing transactions. The help me fix it link should also include all the affected transactions.

I suggest reviewing the username of the individual who performed the deletion. The Audit log functionality provides information about the user responsible for the action.

Still, I want to clarify if the deleted transactions from the Audit log correspond to the ones in your register that were marked as reconciled. If yes, we can perform an initial approach to isolate this behavior, as advised above.

To begin, use a private browser to avoid unusual behavior that may arise from frequently visited websites. Here are the shortcut keys:

Google Chrome: Ctrl + Shift + N
Safari 11 or newer: ⌘ + Shift + N
Mozilla Firefox and Microsoft Edge: Ctrl + Shift + P

Additionally, you can access your QBO account to a different web browser to see if the problem persists. It can help identify if the issue is specific to your current browser or device.

On the other hand, I recommend consulting your accountant to help you check your account and making sure it's accurate.

Please feel free to stay in touch, and we'll be here to offer further assistance if you require any help with balancing and reconciling your account in the system. Take care and goodbye for now.

J

Jesseov

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

JamesDuanT

QuickBooks Team

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

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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