I closed one bank account and opened a new one. I used "transfer funds" in QB Desktop to move the money from the closed account to the new account. How do I reconcile the closed account? The closed account reconciliation shows the deduction to close the account but it also shows the same amount of $$$ as a discrepancy. How do I fix this?
In QuickBooks, there are several ways to fix reconciliation issues depending on the scenario. Based on the information, you can run any of these reports to find the transactions causing the discrepancy: Reconciliation Discrepancy, Audit Trail, and Previous Reconciliation.
Then, undo the previous reconciliation and reconcile again. Otherwise, let QuickBooks enter an offsetting adjustment.
For this one I’m using the Reconciliation Discrepancy, follow these steps to build it. Here’s how:
Go to the Reports menu at the top to select Banking and Reconciliation Discrepancy.
Select the closed account in the Specify Account drop-down and hit OK.
This will display all entries that were modified since the last reconciliation. From the list, look for the one that’s causing the difference. Once found, take note of the transaction date and the Entered/Last Modified.