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stephanderson32
November 7, 2023
Question

Beginning balance problems

  • November 7, 2023
  • 1 reply
  • 0 views

Hey everyone,

 

I'm getting this Discrepancy message when I go to reconcile:

 

I started having this issue after undoing a reconciliation. I can see there must be some connection to that, but I'm at a loss as to how to "recreate" the reconciliation.

 

Thanks for any help!

Stephanie

1 reply

S
Shania_C
November 7, 2023

Hi there @Steph11_2. 

 

Let me provide you with some insights on why you get a notification about the Reconciliation Discrepancy. As you mentioned here, this started after you undo a reconciliation. Check what transactions were deleted and changed, then recreate and edit them. 

 

Here's how to review any discrepancy reports:

 

If anyone changes your beginning balance, you'll get a message before you start reconciling.

 

  1. Select the We Can Help You Fix it link to open your discrepancy report.
  2. Review the discrepancy report. Use it to decide if and how to make changes.
  3. Before editing anything, talk with whoever made the changes - they may be intentional.

 

 

Once you know you need to make corrections, review each transaction in the report one at a time:

 

  1. Select View to see the history of changes to the transaction.
  2. Review the Change Type column. This tells you what changed. 
  3. Make edits based on the message in the Change Type column:

 

After reviewing everything on the discrepancy report, the Total Discrepancy Difference should be US $0.00. Please verify the beginning balance in QuickBooks and ensure it matches your bank statement's beginning balance. Once you have identified and corrected any discrepancies, you can start reconciling. In case you encounter issues in the middle of your reconciliation, please review the following items.

 

Additionally, you can check out this article to learn how to fix issues for accounts you've reconciled in the past and if you want to undo or remove transactions from reconciliations in QuickBooks Online.

 

Please don't hesitate to reach out to me if there's anything else you need help with. Keep Safe!

S
stephanderson32Author
November 9, 2023

Hello again!

The only problem is: the discrepancy report has one item on it that has a $0 balance. I'll attach a better picture here:

R
rvrfrf
November 9, 2023

Thanks for getting back with the Community, stephanderson32. I appreciate your screenshot.

 

To properly identify what you should do with the journal entry you're seeing on your discrepancy report, I'd recommend working with an accounting professional.  If you're in need of one, there's an awesome tool on our website called Find a ProAdvisor. All ProAdvisors listed there are QuickBooks-certified and able to provide helpful insights for driving your business's success.

 

Here's how it works:
 

  1. Go to our Find a ProAdvisor page.
  2. Use the City or ZIP search field to specify a location.
  3. Select Find a ProAdvisor.
  4. Browse through your results and find one that works best for the business. You can click on each ProAdvisor's profile to learn more information about them.

 

Once you've found an accountant, they can be contacted through their Send a message form:
 

  1. Use the available text box to introduce yourself. Be sure to include details about which services you're looking for.


     
  2. Enter your appropriate info in the Your name, Your email, and Your phone number (optional) fields.


     
  3. Hit Send message.

 

I've also included a detailed resource about working with the discrepancy report which may come in handy moving forward: Fix issues when reconciling

 

If there's any additional questions, I'm just a post away. Have a great day!

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