Skip to main content

Get 50% OFF QuickBooks for 3 months*

Buy now
Switch to QuickBooks and 70% off for 3 Months
Talk to Sales: 877-683-3280
Hours
Mon - Fri, 5am - 6pm PST
Sat - Sun, 7am - 4pm PST
Product support & help
Need help signing in?
K
Kellyfl
February 21, 2019
Solved

Reconciliation discrepancy

  • 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!!

    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!

      S
      Sunnycapo
      February 22, 2021

      Thanks for joining this thread, HHHInc.

       

      I'm here to help you resolve the reconciliation differences.

       

      First, let's sort the transactions by amount. I'll show you how:

      1. On the Reconcile page, click the Payment column twice.
      2. Double-click the Deposit column.

      Please refer to the screenshot below.

       

       

      As for your main concern, there are a few reasons why the difference amount won't match up on the Reconcile page. It's possible that there are missing transactions, incorrect opening or ending balance.

       

      To make sure the beginning balance of the reconciliation is correct, please follow the steps below:

      1. On the Reconcile page, click the Edit info button.
      2. In the Edit the information from your statement screens, verify that the Ending balance and Ending date information matches the information from your statement (refer to the screenshot below).
      3. Make any necessary changes to the Ending balance and Ending date.
      4. Click Save.

       

      This article will provide you more troubleshooting about reconciliation: How to resolve reconciliation differences.

       

      That should do it. Let me know how this turns out. I'm happy to help some more if you have questions in QuickBooks Online. Have a good one.


      Thank you so much, this enabled me found the error in the ending balance I entered. God bless you.

      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.
      Need QuickBooks guidance?
      Log in to access expert advice and community support instantly.
      Terms & ConditionsAccessibility statement