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March 26, 2024
Question

What is the best way to figure out why the difference is so off when reconciling your month?

  • March 26, 2024
  • 1 reply
  • 0 views
The bank statement is matching but the difference is showing roughly -$7500 difference.

1 reply

March 26, 2024

It's nice to see you posting here in the Community forum, Melody.

 

I understand that you're looking for assistance with reconciling your account, and I'm happy to help you with that.

 

Generally, there are a few reasons why ending balance issues occur, such as incorrect balances entered, missing or duplicate transactions, or un-cleared transactions.

 

To resolve this issue, I recommend following these steps:

 

  1. Review the opening and beginning balance.
  2. Check the ending balance you entered.
  3. Combine multiple transactions into a single transaction.
  4. Eliminate transactions you know are correct.
  5. Enter transactions that aren't in QuickBooks.
  6. Remove transactions that aren't on your bank statement.
  7. Review transactions that are slightly off.

 

For detailed information on each step, you can visit this article: Fix issues at the end of a reconciliation in QuickBooks Online.

 

I'll be here to help if you have other questions about your reconciliation discrepancy. Feel free to leave a comment below.