Skip to main content
November 23, 2024
Question

reconcile my account i see that there was a sale that was missing, after adding that in the sheet but except of the difference decreasing for some reason it increases?

  • November 23, 2024
  • 1 reply
  • 0 views
Original commenter did not share additional details

    1 reply

    November 24, 2024

    I can help you resolve the increase in your reconciliation discrepancy when recording a missing transaction, Rande.

     

    To begin with, I recommend reviewing your bank statement and comparing its data with your account register in QuickBooks. This way, you can check if the missing entry was entered correctly in the platform.

     

    Once you're ready, here's how to inspect the entries under the specific account to be reconciled:

     

    1. Go to the Gear icon and select Chart of accounts.
    2. Look for the account you want to review. Then, click View register under the Action column.
    3. Select the Filter ▽ dropdown and modify the Date range to show data under the current reconciliation period.
    4. Once done, hit Apply.
    5. If the transaction you've added should be an expense instead of income, you can Delete it and then re-enter the entry accurately. If there's a detail in the transaction that needs alterations, you also have the option to Edit it.
    6. You can also Add the transactions that aren't on the register in QuickBooks but are in your statement. It ensures you retain matching data based on your bank records.

     

    Furthermore, It would also be best to check your Beginning balance. Its value should match your Statement ending balance before reconciling.

     

    When the Statement ending balance was entered incorrectly, you can modify the reconciliation details by clicking the Edit info button. Then, input the correct balance:

     

    If there's an issue with your Beginning balance in QuickBooks, it could also impact your reconciliation record. In this scenario, I recommend seeking assistance from an accounting professional to help you handle this situation accordingly.

     

    I've also added these resources that can supply you with insights about the proper reconciliation process and resolve any problems in doing so:

     

     

    If you have follow-up concerns about your reconciliation discrepancy, add another post in the forum or reply to this thread. The Community is open 24/7 to help you.