Reconciliation Balance Off

Rich428 · ‎February 03, 2021

Quickbooks Desktop Premier 2021

After reconciling a bank account over 9 months, 4-5 previous months' transactions were deleted because they were coded wrong (deposits were coded as job incme versus a transfer from another account). These transactions were seemingly re-entered properly, but the Beginning Balance for reconciliation is now off by the exact total of these transactions. Help, I am driving myself crazy.

MaryAnn_E · ‎February 03, 2021

Hi there, @Rich428.

When previously cleared and reconciled transactions were voided, deleted, or modified some transactions may get unreconciled which affects your balance. Also, you can get the same result if the data file is damaged or corrupted. Let's get this sorted out.

To fix the incorrect ending balance, let's start with running the Reconcile Discrepancy report. Use this report to identify the transaction causing the discrepancy.

Here's how:

Go to the Reports menu.
Select Banking from the drop-down list then selects Reconciliation Discrepancy.
Choose the appropriate Account, then select OK.
If you find a discrepancy, note the transaction date and the Entered/Last Modified, which will tell you when the change occurred.

If the transactions show they were changed, you'll need to make the necessary corrections. For further assistance, I suggest consulting your accountant. If you have to add entries or you have modified previously reconciled transactions, you can perform a mini-reconciliation. Before doing so, make sure to create a backup of your company file to avoid data loss.

However, if you find no discrepancy in the report, I recommend following the solutions outlined in this article for possible data damage: Fix your QuickBooks Desktop company file.

For additional reference, I've attached links that you can use to prepare for year-end:

Drop me a comment below if you have any other questions. I'll be happy to help you some more.

View solution in original post

MaryAnn_E · ‎February 03, 2021

Hi there, @Rich428.

When previously cleared and reconciled transactions were voided, deleted, or modified some transactions may get unreconciled which affects your balance. Also, you can get the same result if the data file is damaged or corrupted. Let's get this sorted out.

To fix the incorrect ending balance, let's start with running the Reconcile Discrepancy report. Use this report to identify the transaction causing the discrepancy.

Here's how:

Go to the Reports menu.
Select Banking from the drop-down list then selects Reconciliation Discrepancy.
Choose the appropriate Account, then select OK.
If you find a discrepancy, note the transaction date and the Entered/Last Modified, which will tell you when the change occurred.

If the transactions show they were changed, you'll need to make the necessary corrections. For further assistance, I suggest consulting your accountant. If you have to add entries or you have modified previously reconciled transactions, you can perform a mini-reconciliation. Before doing so, make sure to create a backup of your company file to avoid data loss.

However, if you find no discrepancy in the report, I recommend following the solutions outlined in this article for possible data damage: Fix your QuickBooks Desktop company file.

For additional reference, I've attached links that you can use to prepare for year-end:

Drop me a comment below if you have any other questions. I'll be happy to help you some more.

amaltz · ‎January 30, 2022

I am not seeing a drop down menu in Reports that offers "Banking"...?!

SarahannC · ‎January 30, 2022

Hello there, @amaltz. I'll make sure you'll get the hep you need.

The steps shared by my colleague above are applicable in QuickBooks Desktop. Please see the screenshot below for additional reference.

If you're using QuickBooks Desktop but not setting the options above, we'll have to fix data-related issues by running the Verify and Rebuild Data within your company file. The steps below will guide you through the process.

Go to the File menu.
Select Utilities.
Click Verify Data then select OK to close all windows.
Then, go back to the File menu.
Select Rebuild Data under Utilities.
QuickBooks will ask to make a backup before rebuilding your company file, select OK.
Once the rebuild is done, click OK.

On the other hand, if you're using QuickBooks Online, that's the reason why you're not seeing the same options. You'll want to run the Reconciliation Report to view previous reconciliations. From there, you’ll see if everything has balanced out and check what transactions were recorded.

Go to the Reports menu and enter Reconciliation Report in the Find report by name search field.
Choose the account you’re working on.
Click the Report period drop-down arrow and set the correct date range.
Hit View Report.

For additional resources, these articles contain solutions on how to resolve reconciliation discrepancies and handling reports.

Add another post if you have follow-up concerns with QuickBooks reports. Take care and have a good one, amaltz!

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Reconciliation Balance Off