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patmol
August 17, 2023
Question

Prior bank reconciliation had $0 discrepancy, but now shows $1195 discrepancy.

  • August 17, 2023
  • 1 reply
  • 0 views

As the subject line mentions.  Last reconciliation was end of March 23.  There was a $0 discrepancy as I have had over the last 16 years and my report dating back to Feb 2017 enjoy tells me a $0 discrepancy with no adjustments.  As I was going to reconcile my bank account, it now shows that there is a discrepancy of $1195 even though there was a $0 difference when I last balanced the books.  I compared my statements and they all line up and can not find the difference.  Has anyone else run into such an insane circumstance or have suggestions on where to start looking.  Checked back to see if somehow something was unchecked in my bank statement, but everything lines up as it should.

 

Any help is appreciated,

 

Pat

1 reply

R
Rasa-LilaM
August 17, 2023

Hello there, patmol.

 

When you reconcile an account, compare your bank statement to what’s in QuickBooks to make sure everything is accurate and matches. That said, the period or month you're reconciling should be the right one.

 

Based on the scenario, we can run several reports to determine the cause of the discrepancy. You can choose any of the following:

 

  • Reconciliation Discrepancy Report
  • Previous Reconciliation Report
  • Bank Account QuickReport
  • Audit Trail report

 

Let me show you the steps on how to build the Reconciliation Discrepancy report. Here's how:

 

  1. Go to Reports at the top bar to choose Banking and Reconciliation Discrepancy Report.
  2. Select the appropriate account and click OK.
  3. Review the report to identify any discrepancies.

 

If you're unable to find what causes the amount to change, let's open some of the reports mentioned above. Each one contains specific instructions on how to troubleshoot the issue. For detailed instructions, check this article: Reconcile accounts in QuickBooks for Mac. Proceed directly to the What if I don't want to enter an adjustment? section.

 

I've also attached a link that contains resources on how to troubleshoot reconciliation issues: QBDT online resources. 

 

In case need more information on a specific task, feel free to use our self-help articles. There, you'll find topics about banking, payroll, cashflow management, and other accounting activities. 

 

Keep me posted if you have additional questions about balancing and matching your account and transactions. I'll get back to make sure this is taken care of for you. 

J
joyin
December 20, 2023

I am having the same problem!  I have been balancing my checking account month by month since 1/31/17. When I run the reconciliation discrepancy report (Quickbooks desktop for Mac), it shows no discrepancies at all. Ever. I last reconciled Sept and Oct on 11/17/23 (running behind due to some shoulder surgery), and everything reconciled. When I went to reconcile my Nov statement, the beginning balance was off by about $850 and change. Again, nothing on the reconciliation discrepancy report. I ran the reconciliation detail, and everything for Oct matched my checking statement. I exited and restarted QB several times, but that didn't correct the beginning balance. I clicked "undue last reconciliation" twice, hoping it would fix things - it did not. I don't know what to try next! I am the only person with access to this account. It is not linked to my bank, so any transactions are entered manually by me. Any suggestions?

Adrian_A
Adrian_A
December 20, 2023

Hello joyin,

 

I'm here to help fix the discrepancy issue you encountered. I appreciate you for running a report and for undoing the reconciliation report to fix this matter.

 

To ensure the transactions match your bank records, I suggest using your bank statement as a reference. You can use it to compare the entries on your QuickBooks transactions.

 

If some transactions are listed on QuickBooks, but not on your bank statement, you may delete them. These entries may be the reason for the discrepancy issue.

 

From there, you can reconcile the account again. You can check this article as your guide: Reconcile account.

 

I'm always around whenever you have reconciliation concerns.

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