Troubleshooting Solutions: QB Reconciliation Discrepancy

To resolve reconciliation discrepancies in QB, follow these steps:

Check Beginning Balance:

Verify the beginning balance of the reconciliation period matches the ending balance of the previous period. If they don’t match, identify any transactions that were added, deleted, or modified.

Review Transactions:

Examine each transaction in the current period for discrepancies. Ensure that transactions are accurately categorized and recorded. Pay special attention to dates and amounts.

Look for Deleted or Modified Transactions:

Use the Reconciliation Discrepancy report to identify transactions that may have been changed after they were reconciled. This report is found under Reports > Banking > Reconciliation Discrepancy.

Check for Duplicate Entries:

Identify and remove any duplicate transactions. Compare your QB register with your bank statement to find and eliminate duplicates.

Reconcile Again:

If discrepancies persist, undo the last reconciliation and reconcile the period again. To do this, go to the Banking menu, select Reconcile, then click the Undo Last Reconciliation button.

Run a Reconciliation Report:

After resolving discrepancies, run a reconciliation report to ensure everything matches. This report can be found under Reports > Banking > Previous Reconciliation.

Adjust Journal Entries:

If needed, make adjusting journal entries to correct any errors found. Ensure these entries are properly documented and justified.

Consult QB Support:

If the issue remains unresolved, contact QB support or consult with a professional accountant for further assistance. QB support can provide additional tools and expertise to troubleshoot complex discrepancies.

By systematically checking each of these areas, you can identify and correct discrepancies, ensuring that your QB reconciliation aligns with your bank statements.

​Troubleshooting Solutions: QB Reconciliation DiscrepancyTo resolve reconciliation discrepancies in QB, follow these steps: Check Beginning Balance:Verify the beginning balance of the reconciliation period matches the ending balance of the previous period. If they don’t match, identify any transactions that were added, deleted, or modified.Review Transactions:Examine each transaction in the current period for discrepancies. Ensure that transactions are accurately categorized and recorded. Pay special attention to dates and amounts.Look for Deleted or Modified Transactions:Use the Reconciliation Discrepancy report to identify transactions that may have been changed after they were reconciled. This report is found under Reports > Banking > Reconciliation Discrepancy.Check for Duplicate Entries:Identify and remove any duplicate transactions. Compare your QB register with your bank statement to find and eliminate duplicates.Reconcile Again:If discrepancies persist, undo the last reconciliation and reconcile the period again. To do this, go to the Banking menu, select Reconcile, then click the Undo Last Reconciliation button.Run a Reconciliation Report:After resolving discrepancies, run a reconciliation report to ensure everything matches. This report can be found under Reports > Banking > Previous Reconciliation.Adjust Journal Entries:If needed, make adjusting journal entries to correct any errors found. Ensure these entries are properly documented and justified.Consult QB Support:If the issue remains unresolved, contact QB support or consult with a professional accountant for further assistance. QB support can provide additional tools and expertise to troubleshoot complex discrepancies.By systematically checking each of these areas, you can identify and correct discrepancies, ensuring that your QB reconciliation aligns with your bank statements.   Read More

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