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ABC1236
September 8, 2020
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Why don't ending and cleared balances do not match?

  • September 8, 2020
  • 1 reply
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Hi,

I don't understand why the ending and cleared balances don't match. The beginning month balance in QB matches the bank statement. There are four deposits in both QB and the bank statement and the totals match. There are four debits in both QB and the bank statement and the totals match. The bank balance matches QB cleared balance. The ending balance is $60 higher. I don't understand where the difference comes from. 

Best answer by JessT

Hi ABC1236,

 

Thank you for making sure that your transactions in QuickBooks match the transactions in your bank statement. We'll trace this $60 difference in your reconciliation, and I'll explain about the Cleared Balance as well.

 

Since we're also sure that the Begining and Ending Balances are correct, let's go back to your Reconcile window and make sure you only clear (put a checkmark) the transactions that belong to the reconciliation period.

 

Clearing transactions dated outside the period will change the Cleared Balance and will cause a difference. That balance should always equate to the Ending Balance after clearing all transactions.

 

In the screenshot below, I'm reconciling my April transactions.

 

 

I'm just right here if you have other questions with your reconciliation. Have a good one!

1 reply

A
AileneA
September 8, 2020

Let's work hand in hand to fix the differences in your account, ABC1236. 

 

There are some reasons why this occurs, which may cause damage data, and we can fix this by performing the Verify data and Rebuild utility tools in QuickBooks Desktop. This way, it'll return to its default order and automatically fixes minor company record data issues. The Verify Data utility identifies any potential data damage issues, while the Rebuild Data utility repairs data in your company file.  

 

If the program is in multi-user mode, you need to change to single user mode (Go to File -> Switch to Single User Mode). It is very important that you have to create a backup copy of your company file before running Verify and Rebuild Data.   

 

Verify Data:  

 

  1. Press the File menu.  
  2. Choose Utilities from the drop-down option.   
  3. Select Verify Data.  
  4. Tap Ok to continue.  

 

Note: If the verify process is successful, you are done. In case it fails due to some problem, QuickBooks will notify you to run Rebuild data.  

 

Rebuild Data:  

 

  1. Click the File tab at the top. 
  2. Select Utilities from the drop-down option.  
  3. Choose Rebuild Data.  
  4. Click Ok on Rebuild has completed.     

 

When the verify/rebuilding data finished, we can close and reopen your file to revamp it. Or restart your computer to refresh your QuickBooks data.   

 

However, if the issue persists after doing the steps above, I suggest contacting our QuickBooks Desktop Support Team. They'll be able to pull up your account in a secure environment and help you navigate using one of their tools. 

  

Let me know how everything goes by leaving a comment below or if there's anything else I can help you. I'm always around to help you out. Take care!

    A
    ABC1236Author
    September 12, 2020

    I found the verify data option from the utilities group. The Verify data function did not find any issues with the data, so the rebuild utility tool was not needed.

    I contacted help through a chat session and was provided some standard instructions for finding discrepancies and reconciliation. I read the instructions and ran some of the reports, but found nothing and didn't expect to. I do this work for a small business and it was a slow month. As mentioned in the previous post, there were only a few debits and credits, the beginning balances matched and the cleared balances matched. 

    I don't really understand where the $60 difference came from when I am the only one who uses Quickbooks. 

    My only option is pay the $300 cost for support out of my own pocket for QB support. 

    Is there anything from QB which clearly explains the difference between cleared and ending balance and how they can differ when the beginning balance is the same and all the credits and debits match. 

    JessT
    JessTAnswer
    September 12, 2020

    Hi ABC1236,

     

    Thank you for making sure that your transactions in QuickBooks match the transactions in your bank statement. We'll trace this $60 difference in your reconciliation, and I'll explain about the Cleared Balance as well.

     

    Since we're also sure that the Begining and Ending Balances are correct, let's go back to your Reconcile window and make sure you only clear (put a checkmark) the transactions that belong to the reconciliation period.

     

    Clearing transactions dated outside the period will change the Cleared Balance and will cause a difference. That balance should always equate to the Ending Balance after clearing all transactions.

     

    In the screenshot below, I'm reconciling my April transactions.

     

     

    I'm just right here if you have other questions with your reconciliation. Have a good one!

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