How to handle a minor discrepancy in reconciliation?

I appreciate your query regarding handling the discrepancy issue, jmaurer1.

Several potential factors could account for the discrepancy in your account balance:

• Someone entered an incorrect ending balance at the start of the reconciliation.
• Someone edited or deleted transactions that were already reconciled.
• There are missing or duplicate transactions in QuickBooks.
• Someone entered transactions into QuickBooks that haven't cleared your bank yet.
• Someone adjusted your last reconciliation with a journal entry.

To handle a minor discrepancy in reconciliation in QuickBooks Desktop, you can run a reconciliation discrepancy report to review and identify the specific transaction(s) causing the imbalance.

1. Go to the Reports menu. Hover over Banking and select Reconciliation Discrepancy.
2. Select the account you're reconciling and then select OK.
3. Review the report. Look for any discrepancies.
4. Talk with the person who made the change. There may be a reason they made the change. Once you know, edit the transaction as needed.

If the discrepancy is substantial and you want to ensure the accuracy of your books, I suggest consulting with a professional accountant or bookkeeper. They can offer valuable guidance and explore alternative solutions to rectify the minor difference.

If you require further assistance managing reconciliation or related matters, reply to this thread. I am here to support you at any time.

@jmaurer1 

When the amount is immaterial, you can assign that $.04 to income or an expense account so the reconciliation can be completed.  Some people assign it to a "Reconciliation Discrepancy" or "Cash Over/Short" expense account and then move it to an income or expense account at year-end so it's not a separate line item on the P&L.  It's really up to you but, yes, obviously you want to include it so that your Ending Balance and Cleared Balance match.