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M
Mak Mashal
August 26, 2021
Question

PLEASE HELP ME WITH DISCPRENCIES IN RECONCILIATION%0D%0A

  • August 26, 2021
  • 1 reply
  • 0 views

Need help with discrepency and reconciliation please.

1 reply

C
ChristieAnn 11
August 26, 2021

Hi there, Mak Mashal.

 

Welcome to the QuickBooks Community. I can share details to ensure you're able to fix the reconciliation discrepancies.

 

When you open the Reconciliation window and choose an account to reconcile, the Beginning Balance is zero or incorrect. This may be due to one of the following reasons:

 

  • Duplicate transactions.
  • The transaction was associated with a different bank account.
  • Previously reconciled transactions were modified or deleted.
  • Incorrect opening balance or account

 

I suggest reviewing your previous period's reconciliation to determine which of the above-mentioned is causing the error. This will help us determine whether the opening balance for the current period is correct. You can follow the steps in this link: Fix beginning balance issues if you've reconciled the account in the past QuickBooks Online.

 

Please refer to this article to view various information or guidelines you need to help to fix any reconciliation issues and how it works: Learn the reconcile workflow in QuickBooks.

 

Let me know how it goes in the comments below. If you have other banking concerns or inquiries about reconciling your accounts in QuickBooks. I'm just around to help. Take care always.

M
Mak MashalAuthor
August 26, 2021

This has accumulated over the years. How do I make it zero. You have a way to do it. How would you do it to make it zero please?

 

Thanks,

 

Mak

I
IntuitSheila
August 26, 2021

Thanks for posting in the Community, Mak,

 

If there's a change made on a previous reconciliation period, you'll have to undo the reconciliation to zero out the discrepancy. We'd recommend to run a reconciliation report. Here's how:

  1. Click on the Reports tab.
  2. On the search box type Reconciliation Report.
  3. Click on Reconciliation Report.
  4. Select the Account for the reconciliation report.
  5. And choose a report period, then click View report.

You'll see any changes made from a previous reconciliation period. Then, to undo a reconciliation you need to do it per transaction in the Account history. Here's how:

  1. Click on the Accounting tab.
  2. Click on Chart of Accounts.
  3. Locate the bank account, and click on Account history.
  4. Click on the transaction needed to undo.
  5. Locate and review the check column, locate the transaction with an R.
  6. Keep selecting the checkbox until the box is blank to remove the R.
  7. Click on Save.

You may want to check these article about bank reconciliation in QuickBooks Online:

If you're not sure where the discrepancy came from, we'd recommend checking them with your accountant or bookkeeper to get more information to avoid messing up your books.

 

Drop a comment below if you need more help in QuickBooks Online. Have a nice day!

 

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