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TerraWorksInc
TerraWorksInc
March 23, 2022
Question

Beginning balance is wrong on reconciliation report

  • March 23, 2022
  • 1 reply
  • 0 views

I am trying to reconcile a credit card that had a closing date of 03/10/2022. Whenever I click on reconcile the beginning balance is the same compared to my statement so I enter the ending balance and go through the reconciliation. Everything matches perfectly and I have a difference of $0. The issue is when I go to print the reports. The reports are saying I have a different beginning balance that is $7.90 more now and instead of my ending balance being correct it is off now too. I already have tried the Reconcile Discrepancy Report and it comes up with nothing. Why is it doing this? I checked the previous months reconciliation and there is no issues. 

1 reply

C
Carneil_C
March 23, 2022

Help has arrived, @TerraWorksInc. I’ll assist you today, so you’re able to fix your reconciliation balance in QuickBooks Desktop.

 

You can run an Audit Trail report or your Previous Reconciliation report to check what transactions caused the discrepancy.

 

Here’s how to run an Audit Trail report:

  1. Choose the appropriate account being reconciled.
  2. Pick the most recent statement date. Select Transactions cleared at the time of reconciliation, then Display.
  3. Note the statement and the reconciliation creation date.
  4. Go to the Reports menu, then click the Accountant & Taxes > Audit Trail.
  5. Set the Account filter to the account is reconciled.
  6. Go to the Display tab. Set the Date filter with the From field blank and the To date set to the statement date.
  7. Select OK.
  8. Set the Entered/Modified filter with the From date set to the previous reconciliation creation date from the PDF, and the To field as today's date.
  9. See if any of the transactions in the report can account for the discrepancy.

Then, you can fix the discrepancy by recreating or editing your transactions.

 

You can check out this helpful resource that can guide you through fixing your reconciliation discrepancy. This includes options you might want to perform to give this issue a fix.

 

In addition, here are a few extra articles that can help you along the way:

Get back to me here if you have further questions about reconciliation in QBDT. I'd be more than happy to answer it for you. Have a nice day. 

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