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I am having issues with reconciliation. My beginning balance and my ending balance are correct. Every single transaction is correct and selected. However there is still a difference of -$0.50. I have figured out the issue is within the payments section- since the deposit amount matches my bank statement. I have redone the reconciliation three times. I have cleared all filters and reviewed all payments. There are no other transactions prior or after statement ending date that are selected. I also filtered the payments to find the difference as well. Any other advice? Would it be advisable to create a journal entry and categorize the 50 cent difference to a reconciliation discrepancy? I am using QuickBooks Online.
I have some ways on how to fix the reconciliation discrepancies, ngranados.
The -0.50 cents reconciliation difference may be due to the following:
You can create journal entry. However, it's best to consult with your account to make sure everything is recorded accordingly. Also, you can force reconcile to resolve the difference.
To help us resolve the reconciliation differences, I've got here some helpful articles that you can check on:
Fix beginning balance issues if you've reconciled the account in the past QuickBooks Online.
Feel free to leave a comment below if you have follow-up questions. I'm always glad to help.
Thank you for your response. However, I have verified all of that already and everything is correct. Statement ending balance is correct, there are no duplicate entries nor are there any errors. However it still days there is a difference.
Thank you! However all the items you listed I verified and are not the issue. All the payment amounts match and are accounted for. It should have zero out but the difference is still showing. I redid the reconciliation 3x already too
Thanks for getting back to us, @ngranados.
Appreciate the info and the steps you did to verify the reconciliation balance. You'll want to consult your accountant to help review the balance of the account since you've already verified and matched your account. This way, your accountant will have to advise on what to do with the amount.
Meanwhile, I recommend contacting our Customer Care Support so we can assist you further in checking the difference and creating a ticket for you if the issue is within the program.
Here's how to reach out:
I'll be attaching this link here in case you need help with other banking-related tasks. It has topics with articles that'll guide you along: Find help with bank feeds and reconciling accounts.
You can always come back to this thread if you have follow-up questions or concerns with reconciliations. I'm more than happy to answer them for you. Take care and stay safe.
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