Bank Reconcilation

Hi Bsroi....   Not sure I'm following.

Is the "0" you are seeing in the Reconcile window in the lower right?  If it is, then that is a good thing because you have balanced/reconciled.

The 0 is telling you that when QBs compares your Beginning Balance, the new Ending Balance and all the payments and deposits you checked off, you balance.

If you UNcheck one of your Deposits (e.g. 1,000.00) you'll see the 0 change by the amount you unchecked.  So if you had  really gone through the process and saw a -1,000, then that would mean you made a $1,000 deposit in your records, but the bank doesn't show it.  (Or often that you checked something by mistake that did or didn't really clear.)

And if you did not notice it, there is a little check box at the top of the window where you mark off the transactions called Hide transactions after the statement's end date.  So if you're a week or two into February and Reconciling January, checking that box will hide all the Feb. entries.

Hello there, Bsroi.

I want your issue about bank reconciliation gets taken care of.

Let's try to check if there are any missing or modified transactions that is causing this reconciliation discrepancy. 

To help us identify the discrepancies, we can run the Reconciliation Discrepancy Report. This report shows transactions sorted by statement date that were changed since the last reconciliation.

1. Go to the Reports menu.
2. Select Banking.
3. Click Reconciliation Discrepancy.
4. Choose the appropriate account, then select OK.
5. Review the report to identify any discrepancies.

If you see duplicate transactions, you can delete or void it. For missing transactions, you can manually enter it in QuickBooks.

To learn more about the different ways of fixing Reconciliation discrepancies, you can check out this article: Fix Reconciliation Discrepancies.

And just in case you need help from a live support, feel free to get in touch with our Desktop Care Support Team. Here's how to get their contact information: 

1. Go to: https://help.quickbooks.intuit.com/en_US/contact.
2. Choose your QuickBooks Product.
3. Select your QuickBooks Version.
4. On the Contact Us page, click a topic.
5. Click on the Get Phone Number button to see the support number.

I'm still here if you have additional questions and you're more than welcome to leave a reply for anything you need.

Hi,

When I go to my discrepancy report there are no discrepancies and I have all Dates selected.

Hi Pete,

No its not showing me 0 balance.

I checked my deposits and credits and they match. I checked my checks and payments and they match my bank statement too. My ending difference is the same as my cleared difference which is good because it will give me a 0 balance but instead my ending balance $3,116.37 and my cleared balance $3,116.37 are been added up giving me a difference of $6,232.74 instead of deducting and giving me a 0 balance.

Hi Charies_M

when I go to the Discrepancy Report there is nothing there and all dates have been selected.

Thanks for the prompt response, @Bsroi.

I’d like to ask more details such as screenshots on the reconciliation screen where you can find the big difference on your ending and cleared balance. 

The report suggested by my colleague should be able to find any discrepancies on the account you’re trying to reconcile. 

In the meantime, we’ll also try performing the Verify and Rebuild Utility Tool to make sure there are no data damages to your company file. Here’s how:

Rebuild Data:
1.    Go to the File menu.
2.    Choose Utilities, then select Rebuild Data.
3.    Select OK on the QuickBooks Information window.
4.    Follow the prompt to save a backup.
5.    When you see Rebuild has completed, click OK.

Verify Data:
1.    Go to the File menu.
2.    Choose Utilities, then select Verify Data.
3.    If you see QuickBooks detected no problem with your data, click OK. You can continue using the company file.
4.    If Verify finds an issue with your data, you’ll be prompted to Rebuild Now or View Errors.
5.    Select Close.

For more information about resolving data damage, take a look at this article: https://quickbooks.intuit.com/community/Reports-and-accounting/Resolve-data-damage-on-your-company-f....

Give this a try and let me know what the results are. Please leave a reply below with the screenshot and we’ll take it from there. Thanks for reaching out. I’ll be on a look out for your response. Take care!

Hi KhimG

Here is an image 

Hello there, @Bsroi.

I appreciate the screenshot that you've given. Allow me to join this conversation and provide further insights about your this reconciliation concern.

Your ending balance and cleared balance should have the same positive amount. In this case, you'll need to double-check if there are deposits that were not marked upon the reconciliation. Also, make sure to enter the ending balance correctly. 

Once verified that all the information are correct and the issue persists, I'd suggest giving our Customer Care Team a call. They have the necessary tools like screen-sharing to check on your transactions to better isolate this matter.

To reach them:

1. In your browser, navigate to https://help.quickbooks.intuit.com/en_US/contact.
2. Choose QuickBooks Desktop.
3. Select the issue or topic.
4. Click the Green Phone button to see the support number.

You've got me here if you need further help. I'm always here to help. Have a great weekend!

Hi BettyJaneB,

I checked and my beginning balance matches with the one from the bank and also my ending balance was entered correctly. 

My statement deposits matched to my reconcile my check paid matched to my reconcile.

In the screen shot you posted, what were all the $0.00 entries?  And just to check, is this the first time Reconciling?  If not, have you had problems before?

I know it may seem silly, but let's start from the beginning to make sure we're all on the same page.  Maybe it's just one of those "is it plugged in" moments....

When you start the process you go to Banking; Reconcile and:

• You set the Statement Date to what's on your bank statement
• The "Beginning Balance" that QBs shows is the EXACT amount the bank statement shows from the prior month
• You put in the Ending Balance from the bank statement
• You add any Service Charges on the statement that you haven't already entered
• You add any Interest on the statement that you haven't already entered
• You Click on Continue
• You Check the box at the top of the Window to hide all the entries past the Statement date

From there you put a check mark next to ALL & ONLY the deposits shown on the statement.  If you look at the total the QBs window shows for Deposits, it should match what the statement shows. 

Then you check off ALL & ONLY the checks/payments shown on the statement.  Again, some vendors are slow to deposit the check in their bank, so there will be checks that are unchecked/not cleared.

End result should be that the number in the lower left of the window should be 0.

If the beginning and ending numbers were correct.  And all items on the statement were checked, then QBs should show you in balance/reconciled.

If you missed something, then it should be off a bit, but to be EXACTLY off to me it means there's a bigger issue.  Are there Bank Feed duplicates that make you exactly off?  Did you have issues Reconciling the prior month?  

Thank you all for all your help.

I realized that my statement ending balance was a negative balance. Once I changed it my ending balance to negative in Quickbooks my difference came to 0.

Thank you all for your help.

I realized my bank statement ending balance was a negative balance once I changed my ending balance to a negative on Quickbooks my difference changed to 0. 

What you showed is a bit of a concern.

While 0 Checks might be Void, you also show Journal Entries. Someone is using QB incorrectly; there is No JE for Banking. The tools are in the Banking menu, for Write Check and Make Deposit. You also have Sales activities that result in funds to the bank and Vendor Bill Payments. Not JE. And JE is avoided for Names; yet Banking nearly always should include the Payee for Checks or money out. JE for Deposits is bypassing Sales, if this is a business. JE bypasses Cash vs Accrual basis reporting.

And if someone is entering JE for Undeposited Funds, that is a great way to corrupt a desktop data file.