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NCCC2021
March 30, 2021
Question

bank

  • March 30, 2021
  • 1 reply
  • 0 views

I am having a problem with reconciling my bank account in quickbooks the GL account balance is correct, but t when I go to reconcile the bank account; the balance is $16K off.

 

I tried the following steps:

 

Company

Make JE

Selected the correct account

Entered opening balance with a dr.

Cr to Opening balance equity account

 

This caused the GL account to be over.

 

How do I get the two to match?  The bank account when I got to reconcile (not sure if it's been done in a while).  

1 reply

AlcaeusF
AlcaeusF
March 30, 2021

Hi there, @NCCC2021.

 

Thank you for posting here in the Community. I know how important being able to match the balance in QuickBooks and your bank statement so I'm here to help you reconcile the account.

 

There are several possible reasons why the balance is off when reconciling a bank account. Usually, edited, deleted, or missing transactions that were already reconciled causes the problem.

 

Please note that your beginning balance is the sum of your cleared transactions. They can be affected by you recreating, deleting, changing information.

 

Since the GL account balance is correct, I recommend you proceed with running the Reconciliation Discrepancy report. It shows any transactions that were changed since your last reconciliation.

 

Here's how:

 

  1. Go to the Reports menu.
  2. Hover over Banking and select Reconciliation Discrepancy.
  3. Select the account you're reconciling, then select OK.
  4. Review the report and look for any discrepancies.

 

For more information, as well as how to search for reconciliation adjustments in QuickBooks, I recommend the following article: Fix issues when you're reconciling in QuickBooks Desktop.

 

Keep us posted if you need anything else regarding the reconciliation. Have a great day.

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