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Milady017
July 25, 2024
Question

Problems with reconciling

  • July 25, 2024
  • 1 reply
  • 0 views

I hope someone can help me to figure out what I can do. I’m doing the reconciliation from September 2023. September month everything clear and I was able to reconcile. Now for the next month October 2023 there’s a discrepancy or difference for the amount of 49.71 something like that. I checked the beginning balance and ending balance and looks good. I checked the transactions an according with the bank statement what I have in QB it’s good also. There’s no missing payment or double entries or deposit etc. 

I still reconcile with the $49.71 discrepancies but now for November the discrepancies or difference is more $709. The ending and beginning balance are right! I don’t know what I can do this is uncommon! 

to explain the situation I closed the business account on August 2023 I reconcile that business account without issue. When I started to reconcile the new business account is when all problems came. I have to adjust the beginning balance according to QB should be 17k or something around that. According to the bank 0.0 starting on September. 

can anyone help me please ?? 

    1 reply

    FishingForAnswers
    FishingForAnswers
    July 25, 2024

    @Milady017  Well, let's start by saying that you shouldn't force a reconciliation any more than you should force a crossword puzzle to work. It never ends well.

     

    It's fairly likely that it has something to do with how you established the beginning balance of the new account, per your description, though I would suspect a misreading of the deductions and additions for October more. We've all been there.

     

    After all, it's just math. If October's starting balance and ending balance were set correctly for the reconciliation, then either you didn't read the deductions and additions correctly, something got mucked up with September's reconciliation without you noticing (probably when you established the balance), you somehow picked the wrong bank account to reconcile, or QBO is eating itself.

     

    While the last option is always possible, it's also not something you can hope to fix by yourself, so you should focus on the other possibilities for now.

    M
    Milady017Author
    July 27, 2024

    I resolved the problem ! I didn’t realize that the ending balance was negative. I didn’t type in the negative symbol that why I was having the trouble. But normally the negative balance I see the symbol at the beginning of the number and in this case the symbol was after the numbers.

    Thank you

     

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