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B
buyersremorse
July 26, 2022
Question

Bank Reconciliation

  • July 26, 2022
  • 6 replies
  • 12 views

I changed over to Quickbooks Online from Quickbooks Desktop and I am trying to reconcile my main checking account. QBO's beginning balance is way off though my Bank Statement and Desktop version balance matches. In all the videos I find, it tells me if my QBO beginning balance doesn't match my bank statement, I will get a popup from QBO to help find the discrepancies. That doesn't happen. How can I get a reconciliation discrepancy report without that popup? PS - my bank registers match - it is off in the beginning balance.

6 replies

G
GebelAlainaMQuickBooks Team
QuickBooks Team
July 26, 2022

Hi there, @buyersremorse. I'm here to shares insights about reconciliations in QuickBooks Online (QBO) and on how we can locate the discrepancy link.

When reconciling an accounts in QBO, we'll need to make sure that the opening balance is correct since it's the starting point for accounts. Once it's incorrect, it affects all following reconciliations. Also, each time you reconcile be sure to check the beginning balance if it matches your bank statement for the same start day. If it doesn't, we can review the following to fix it:
 

  • Review the original opening balance before the beginning balance.
  • Check your bank statement to ensure you're reconciling the correct accounts.
  • Match and categorize downloaded transactions to get the final correct beginning balance.
  • Review any discrepancy reports, if you made changes that affects your beginning balance, you'll get an error message that says "Your account isn't ready to reconcile yet."

Here's how to view discrepancy reports:
 

  1. Go to the Accounting menu.
  2. Select Reconcile.
  3. Select the We can help you fix it link to open your discrepancy report.
  4. Review the discrepancy report, for you to decide if and how to make changes.
  5. Before making changes be sure to confirm it the changes are intentional or not.

If you know you need to make corrections, review each transaction on the report one at a time:
 

  1. Select View to see the history of changes to the transaction.
  2. Review the Change Type column. This tells you what changed.
  3. Update it based on the message in the Change Type column.

For additional information, you can refer to the following articles:
 

If everything is all ready and your beginning balance is accurate, you can start reconciling an account.

If you have clarification or additional information, please leave a comment below. I'll be here. Have a good one!

B
buyersremorseAuthor
July 26, 2022

Thank you for your response.  The problem is that the message 

"Your account isn't ready to reconcile yet." does not appear. There is no error box whatsoever. Is there another path to get to reconciliation discrepancies without using that error box?

    K
    Kurt_MQuickBooks Team
    QuickBooks Team
    August 3, 2022

    Hi there, @DebbieTR. I've got your back, and I'm here to help fix the discrepancy on your reconciliation report in QuickBooks Online (QBO).

     

    To get through this, you can re-create the deleted transaction and then proceed to do a manual reconciliation of the account. If you're unsure of the amount that transaction contains, you can use the audit log feature to track down the deleted transaction and then take note of the details inside it. Here's how:

     

    1. Go to Settings and then select the Audit Log.
    2. Select Filter.
    3. Use the fields on the Filter panel to choose the appropriate User, Date, or Events filter to narrow the results.
    4. Select Apply.

     

    Please be aware that you need to sign in as an admin to access the audit log feature. Refer to this article for more information about the audit log feature: Use the audit log in QuickBooks Online.

     

    Once you've got the details inside that transactions, proceed to re-create it then do a manual reconciliation of the account. Visit this page for further guidelines: Reconcile an account in QuickBooks Online.

     

    Additionally, I've got you this article to help you fix reconciliation in QBO: Fix issues the first time you reconcile an account in QuickBooks Online.

     

    You can also check this article to learn more about the reconciliation workflow in QBO: Learn the reconcile workflow in QuickBooks.

     

    Should you need further assistance with your reconciliation report? Or do you have any additional QuickBooks-related concerns? Know that you can always get back to me anytime, and I'll be more than happy to help you again. Thanks for choosing QuickBooks. Take care, and have a nice day!

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