Reconciled Balance vs Balance Sheet Balance

Hello anwava,

Aside from outstanding transactions, here are other reasons why your QuickBooks and bank balances don't match:

• Duplicate transactions
• Edited or deleted transactions
• Transactions for a connected account
• Credit card (liability) account

Though, there are different ways to fix this depending on the what's causing the issue.

First, we can review the Audit Trail to see if there are reconciled transactions that were deleted or edited. Here's how:

1. Click the Reports at the top menu and select Accountant & Taxes.
2. Select Audit Trail and click the Customize Report button.
3. Go to the Filters tab and set a date range.
4. Click OK and look for the transaction.
5. Take note the details of the transaction, and recreate it.

If you need more about how reconciliation work in QuickBooks, you can use these articles for reference:

• View Previous Bank Reconciliation Reports
• Resolve Common Issues on Previous Reconciliation Report
• Zero or Incorrect Beginning Balance in the Begin Reconciliation Window

Feel free to let me know if you need anything else.

For more information on taxes, forms, filings, payroll and other Year End activities, make sure to check out our Year End Resources page.

RE: The reconciled balance for my bank account as of the end of the period shows a different amount than what is on my balance sheet for the same period end. What is the reason for the difference? 

The most common and normal cause is that there are uncleared transactions before the date of the balance sheet.  Nothing needs to be done about this.  You'll see the same balance in the bank register for the balance sheet date.

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@anwava wrote:

The reconciled balance for my bank account as of the end of the period shows a different amount than what is on my balance sheet for the same period end. What is the reason for the difference? 

 

I thought maybe it could have to do with uncleared transactions, but I only had one outstanding transaction and the amount of the difference and the amount of the transaction do not match up.

 

Is there something wrong? The balance sheet shows the same balance as the what the register does, but that is not the same as what the reconciled balance shows for the same period end.

 

 

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The replies don't seem to be answering the question, and I may have a similar issue.  The bank reconciliation has been completed.  On the QBs reconciliation report the 12/31/2018 register balance is -4861.80.  The register balance is, of course, after the uncleared transactions.  The Balance Sheet balance for the same bank as of 12/31/2018 is -3,948.98.  This is a difference of 912.82.  There should be no difference between the register balance in the reconciliation report and the balance sheet, since the register balance takes the uncleared transactions into consideration.  I've selected the bank reconciliation report that shows any changes since the original reconciliation, so it isn't a matter of the data having changed since it was reconciled.  What causes this amounts to become out of sync and how do I fix it?  I have run data integrity and a data rebuild, but the issue has not resolved.  There were also no issues found.

There are 2 dates and 2 balances to keep separate in your mind:

Actual balance in Bank vs QB Register Balance

The reconciliation does not make these the same - it just explains the difference.

Also Reconciliation (bank statement) Date vs Report date - self explanitory.

QB financial reports always contain Register Balances as of Report Date.

Bank Balance (as of any past date) will not change. 

But the register balances at any date can change after a reconciliation is done if new entries are made. 

Was this ever resolved?  Each month, my beginning and ending balance matches the bank reconciliation and I have a completely cleared reconciliation that is in balance yet my register balance as of the end of the month (not the ending balance - the register balance) is never in sync with my balance sheet as of the end of the month.  How can my reconciliation be in balance with the bank but not my balance sheet?