Skip to main content
T
taylorclum
February 8, 2023
Question

Reconciliation Difference is off by exactly the amount of my beginning balance

  • February 8, 2023
  • 1 reply
  • 0 views

I'm working on going back to reconcile a credit card account month by month. My accountant did the first month so I know everything was done correctly. I'm doing the following month on my own and all of my transactions are noted correctly and matching. However, Quickbooks is telling me that my reconciliation is off by -$1,158.67 which is the exact amount of beginning balance that is noted. How do I fix this? I know it must be some sort of error that doesn't have to do with my transactions because it's the exact same amounts.

    1 reply

    M
    Mark_R
    February 8, 2023

    It's good to see you here in the Community, @taylorclum.

     

    I'm here to help fix your reconciliation discrepancy in QuickBooks Online (QBO).

     

    There are some possible reasons there's a difference in your reconciliation. Here are the following factors:

     

    • Duplicate transactions
    • The transaction was associated with a different bank account
    • Previously reconciled transactions were edited or deleted
    • The opening balance or an account is incorrect

     

    To get this fixed, you'll need to review the beginning balance. It's the amount in the account at the beginning of the time period you're reviewing. It lets you know if you're starting with accurate numbers. It should also match what's on your bank statement for the same start day.

     

    After reviewing, you can follow the step-by-step process in this article: Fix issues for accounts you've reconciled in the past in QuickBooks Online.

     

    You may also want to check out this article to learn more about the reconciliation workflow in QuickBooks: Learn the reconcile workflow in QuickBooks.

     

    Come back to this post if you have other concerns or follow-up questions about reconciliation. I'll be around to provide further assistance.

    Terms & ConditionsAccessibility statement