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The Old Oracle
January 11, 2023
Question

why does RECONCILE not work correctly

  • January 11, 2023
  • 1 reply
  • 0 views

why does RECONCILE not work correctly - is this a Software Fault?

I know the Inputs are correct, but it will report a discrepancy. The next day it will probably show it agrees.

 

LATER: I have read other Posts; there is a suggestion "Bank Balance" in Quickbooks includes outstanding items which have not been included in the Download. This would be an explanation, but of course is no help ......

The point of auto-download is you do not need the Bank Statement! Can the software be changed?

Or, is their a more sinister explanation?

1 reply

P
payment after leaving
January 11, 2023

Hi The Old Oracle We haven't had any reports of the reconciliation tool not working correctly. To confirm, one day you attempt a reconciliation and there is a discrepancy but you then attempt the reconciliation the next day and there isn't a discrepancy? Have any further transactions been added to the chart of account that you're reconciling which would make the reconciliation be correct the next day?

T
The Old OracleAuthor
January 13, 2023

There may be entries the next day, and an updated Bank balance, which now (usually) shows correct.

I used to waste time looking for a difference (which was not there), until I realised the Program was wrong.

 

G
GeorgiaC
January 13, 2023

Hi The Old Oracle, it's normal for pending transactions to be accounted for in the bank balance before they are fully processed by the bank and posted as a transaction in QuickBooks - if you have a discrepancy in the future, we'd therefore recommend checking your online bank for any transactions that may still be processing. 🙂

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