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Reconciliation Discrepancy in Closed Bank Account – Need Assistance

Forum|Forum|2 years ago
January 9, 2024
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The bank account has been closed and disconnected from QuickBooks (Client doesn´t have the login details to that account anymore since it was closed down completely). The bank statement in PDF format includes a bank deposit that wasn't downloaded into the bank feed. I manually entered this transaction to reconcile the bank statement. The current issue is that, on the bank account tab, the balance is off due to the manually entered deposit. However, the balance in the QuickBooks tab matches the bank balance in the bank statement. How can I resolve this discrepancy?

QuickBooks Accountant Online

Best answer by JanbonN

Welcome to the Community, @Eunice2024. Let me share some information about your bank tab and QuickBooks (QB).

It's important to note that all your transactions, including those you still need to review, impact the QB balance. On the other hand, the bank balance is determined solely based on the transactions of the bank outside of QB.

Your bank balance will remain unchanged since you no longer have any active connections with your bank. Furthermore, the balance in QB matches with the balance in your statements. You can be reassured as these details are the only details QuickBooks needs to reconcile your account.

Additionally, you can also generate a reconciliation report to get a summary.

If you need further assistance reconciling your accounts, just let me know. I'm here to help. Take care!

J

JanbonNAnswer

Welcome to the Community, @Eunice2024. Let me share some information about your bank tab and QuickBooks (QB).

It's important to note that all your transactions, including those you still need to review, impact the QB balance. On the other hand, the bank balance is determined solely based on the transactions of the bank outside of QB.

Your bank balance will remain unchanged since you no longer have any active connections with your bank. Furthermore, the balance in QB matches with the balance in your statements. You can be reassured as these details are the only details QuickBooks needs to reconcile your account.

Additionally, you can also generate a reconciliation report to get a summary.

If you need further assistance reconciling your accounts, just let me know. I'm here to help. Take care!