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LindaChubbuck
January 21, 2022
Question

Reconciliation issues

  • January 21, 2022
  • 1 reply
  • 0 views

I'm using QB 2020 Desktop (on a Mac).  I reconcile both bank and credit card statements monthly but my husband's card got tangled up.  Today, trying to straighten it out, I did "undo last reconciliation" and because that didn't work, I did it several times, for about 6 months.  Now the numbers are completely off, and to go through and re-reconcile each month doesn't work, because it did not ACTUALLY UNDO, instead some of the entries are marked as reconciled and others not, so none of the months actually reconcile again, even though most of them were originally correct.  

How do I fix this?  Thanks for any help!

Linda 

1 reply

R
RCV
January 21, 2022

Let me help you with reconciling your accounts, LindaChubbuck. 

 

We can run a Reconciliation Discrepancy report to help you identify reconciled transactions that were modified, deleted, or voided. Here's how: 

  1. From the Reports menu, select Banking.
  2. Choose Reconciliation Discrepancy Report.
  3. Select the appropriate account, then tap OK.
  4. Review the report to identify any discrepancies.

 

We can also open the previous reconciliation report to trace what's causing the discrepancy. Just follow the steps and details in this article: Find reconciliation discrepancies (Mac). Then, do a special reconciliation. This "mini reconciliation" method uses an "off-cycle" reconciliation date to make a correction. This assumes you know the ending balance from the most recent reconciliation. Here's how: 

  1. Go to the Banking menu and select Reconcile.
  2. Choose the bank account with the transactions you need to reconcile.
  3. In the Date of Statement field, enter the date for an "off-cycle reconciliation." This date can be any date between your last reconciliation and the next scheduled one. When you enter an "off-cycle" date, QuickBooks will remind you that you're doing a mini reconciliation. This puts previously unreconciled transactions back without affecting the "cycle" that they follow.
  4. In the Ending Balance field, enter the balance of your last successful reconciliation. Then select Continue.
  5. In the Reconcile window, check off the transactions you are fixing and re-reconciling.
  6. Make sure the Difference field shows $0.00.
  7. When everything looks good, press Reconcile Now.

 

For other troubleshooting steps in reconciling your accounts so they match your bank and credit card statements, check out this article: Reconcile an account in QuickBooks Desktop. 

 

Feel free to browse this link here if you need help with bank feeds and reconciling accounts. It'll route you to our general banking topics with articles.

 

Keep in touch if you need any more assistance with this, or there's something else I can do for you. I've got your back. You have a good one.

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