Reconciliation

You’re in good hands for the support you need, Aakebojpas. Let's work together to resolve the reconciliation discrepancy and get your account balanced.

Before we dive in, please ensure you are reconciling the correct account. If you have multiple accounts at the same bank or more than one account of the same type, double-check that you’re working with the right one.

If any changes impact your beginning balance, you’ll receive a message before you start reconciling. Select the We Can Help You Fix It link to open your discrepancy report.

Next, look for the deleted entries after your last reconciliation on 10/31/23. Identifying these will help clarify what caused the discrepancy in your beginning balance.

Once you identified the deleted transactions, I recommend recreating them as they appeared on your discrepancy report. Follow the detailed steps below:

1. Select + New.
2. Choose the correct sales form.
3. Fill out the form and select Save and Close.
4. Go to the Gear icon, then select Chart of Accounts.
5. Find the account that you put the transaction into and select View Register.
6. Find the entry and select it to expand the view.
7. Hit on the box in the checkmark column until you see an R. This manually reconciles it.
8. Click on Save. If you still see an alert the next time you reconcile, open the discrepancy report. The deleted transaction may still be on the list, but the difference should be $0.00. It won't affect your reconciliation.

After recreating the transactions, proceed to reconcile them manually:

1. Go to Transactions, then select Chart of Accounts.
2. Find the account where you entered the transaction and choose View Register.
3. Locate the recreated entry and select it to expand the view.
4. Check the box in the checkmark column until you see an R.
5. Click Save.

After you’ve reviewed everything on the discrepancy report, the Total Discrepancy Difference should be $0.00. Verify the beginning balance in QBO again. Once confirmed, select Resume Reconciliation to continue with the reconciliation process.

Additionally, if you're connecting to online banking, match and categorize all downloaded entries before initiating the reconciliation process.

You may consider inviting your accountant to collaborate on your QBO account. It will enable them to offer tailored insights and support, ensuring your financial records remain accurate and up-to-date. If you don’t have an accountant, please visit our QuickBooks ProAdvisor website for assistance.

Furthermore, I recommend bookmarking these valuable resources to deepen your understanding of the reconciliation workflow in QBO and effectively address any errors you may encounter:

• Reconcile workflow in QuickBooks
• Undo or remove transactions from reconciliations

Keep this thread handy for future questions or concerns about balancing your account in QBO. My team and I are here to ensure you feel supported and confident in managing your finances. We look forward to assisting you.

The bank balance in QuickBooks is not matching my actual bank statement beginning balance.

Everything was perfect 7/1/24 then when i went reconcile for August the beginning balance didn't match then i noticed QuickBooks went back and created another reconciliation for 10/31/23

Let me route you to our ProAdvisor Support to help resolve the discrepancy with your August beginning balance, @aakebojpas.

Before I proceed, have you tried the troubleshooting steps suggested by the previous agent? If you're still experiencing the same issue, I'd recommend seeking advice from your accountant for guidance on accurately resolving discrepancies. 

If you don't have an accountant, click this link: https://quickbooks.intuit.com/find-an-accountant/ and get assistance from our ProAdvisor Support. 

Feel free to ask us if you encounter discrepancies with your balances by leaving a comment in this thread. Our team is always ready to help. Have a good one.