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CrissyKnny
April 11, 2021
Question

My chart of accounts, balance sheet and bank statement all match perfectly but my reconciliation balance is off...

  • April 11, 2021
  • 1 reply
  • 0 views

My chart of accounts and balance sheet match perfectly to my bank statement but when I try to reconcile the beginning balance is off.  I called Quickbooks and they had me do a journal entry adjusting the beginning balance by putting the money I was off in the open equity account which fixed the rec however, it threw my chart of accounts off bad.  When I deleted the adjustment my chart of accounts was good but my reconciliation is off again.  Please help....

 

 

1 reply

E
Ethel_A12
April 11, 2021

Thank you for reaching out to us, CrissyKnny.

 

When reconciling an account, you need to compare transactions in QuickBooks with your bank statements. After you review everything, the difference between the ending balance in QuickBooks and your bank statement should be $0.00.

 

If the ending balance doesn't match, you don't have to worry. I'll share with you some insights about reconciliation errors.

Here are possible reasons for the error when reconciling an account:

 

  • Someone entered an incorrect ending balance at the start of the reconciliation.
  • There are missing or duplicate transactions in QuickBooks.
  • Someone entered transactions into QuickBooks that haven't cleared your bank yet.

 

Check on the steps on how to fix issues at the end of reconciliation in QuickBooks Online.

 

 

You can also watch how to reconcile an account.

 

 

Feel free to reach back out to me if I can be of more help. I'll make sure to get back to you as soon as I can. Have a great day. 

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