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Luna1383
February 7, 2025
Question

The beginning balance in QuickBooks Desktop is different from my bank statement; they do not match, and I am unable to complete my reconciliation.

  • February 7, 2025
  • 1 reply
  • 0 views

I have identified a discrepancy in the beginning balance in quickbooks, it doesn't match with my beginning balance in the bank statement, while performing my reconciliation for November 2024. This seemed unusual to me because when I completed my reconciliation for October 2024, everything was properly reconciled.  Upon review, I found that the discrepancy amounts to $2,041.18. After generating a "Previous Reconciliation Discrepancy" report, I discovered that my supervisor had deleted vendor payments from the years 2019, 2020, 2022, and 2023, which match this exact amount by mistake.  These payments had already been reconciled.

My supervisor has instructed me to make the necessary adjustments to complete the reconciliation. However, I have never performed this type of adjustment before, and I am unsure how to proceed.  I know that one way to correct this is to undo the reconciliations and redo them from those years, but it would take me a considerable amount of time to undo reconciliations dating back to 2019.

Could you please assist me in ensuring the records are balanced so that I can finalize my reconciliation?  Could you please assist me in resolving this issue? I am currently using QuickBooks Desktop 2021.

I appreciate your help in advance.

1 reply

C
CamelleT
February 7, 2025

I truly appreciate the detailed information, Luna. Let me assist you in fixing the discrepancy caused by the deleted vendor payments so you can complete your reconciliation in QuickBooks Desktop (QBDT).

 

To resolve the discrepancy, you can undo the reconciliation for the affected years and then redo it. Here's how:

 

  1. Back up your QuickBooks company file.
  2. Go to Banking and select Reconcile.
  3. Click the Undo Last Reconciliation button.
  4. Hit Continue, then OK.
  5. Close out of reconcile and open it again.

 

Moreover, another option is ignoring the discrepancy and letting QuickBooks enter an offsetting adjustment. Please refer to the steps below:

 

  1. From the Reconciliation window, click Reconcile Now.
  2. Select Enter Adjustment.
  3. QuickBooks will automatically create a Journal Entry under a special expense account called Reconciliation Discrepancies.

 

Additionally, I'll share a helpful resource to assist in examining and analyzing your previous reconciliations. This will allow you to track historical data and ensure accuracy in your financial records: Get reports for previous reconciliations in QuickBooks Desktop.

 

If you have further questions about the reconciliation process in QBDT, feel free to add a reply. We're always here to respond.

    FishingForAnswers
    FishingForAnswers
    February 7, 2025

    @Luna1383  "Moreover, another option is ignoring the discrepancy and letting QuickBooks enter an offsetting adjustment. Please refer to the steps below:"

     

    Do not actually follow this specific piece of advice from @CamelleT .

     

    Why QB ever saw fit to include this function is beyond me.

      L
      Luna1383Author
      February 11, 2025

      My sincere apologies in any case. Do you think it would be better to recreate the checks and reconcile those that were mistakenly deleted, using the date and ending balance from the last reconciliation I performed? Because when I go into the vendors section and check the invoices for which those deleted payments were made, they appear as unpaid.

      I know that this type of solution could be an option, but I am not sure if it is correct. Could you please help me?

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