How to Fix Reconciliation Discrepancies in Quickbooks Online

QBUniversity.org - How to fix reconciliation discrepancies in Quickbooks Online walks you through what to do when your beginning balance is off when you reconcile your bank or credit card accounts.
This can happen for all sorts of reasons. Many times, someone will inadvertently go in and void or delete a previous transaction. When this happens it causes a reconciliation discrepancy - your beginning balance in Quickbooks Online does not match the ending balance you previously reconciled.
This video tutorial walks you through how to fix the most common reconciliation discrepancies in Quickbooks Online.
Discover more at QBUniversity.org

[@QbuniversityOrg]

Feel free to leave a comment or question here!

[@Ddstairclimber]

thanks Quniversity, the issue, when a transaction is deleted and then you add it and mark it as R for reconciled , yea initially the issue of the problem of reconciliation goes away, but when you do the next reconciliation the transaction keeps appearing there kind like as if it wasn't reconciled , so what do we do just ignore it?

[@lizeaston9977]

What do you when you are starting a new reconcile and the beginning balance on quickbooks does not match what your bank statement says? I can't even start my reconcile because the beginning balances don't match.

[@micahsalinas4191]

As the operations manager for a major corp in Houston, I 'd would like to thank you for making this video that totally saved my ass!! Thank you!!!!

[@QbuniversityOrg]

Ha! You’re welcome!

[@cynthiahartley7277]

Thank you for this! I was freaking out because I violated every rule for one of the accounts I had reconciled. After this video, I was able to remove all discrepancies in about 20 minutes!

[@QbuniversityOrg]

That’s awesome!

[@C1nderfire]

Y’all sb advertising this channel on QB or have QB post this channel in their software. Soooooo helpful!!

[@QbuniversityOrg]

Cinderfire thanks!

[@kay6497]

I’ve been looking for hours to fix this and your video helped alit thanks much

[@QbuniversityOrg]

Awesome, you’re welcome!

[@littleboy6503]

Thanks a lot dear. I have faced same problem for my client. Now I can resolve the problem...😊😊😊

[@QbuniversityOrg]

You're welcome!

[@corimehnert4853]

This video is a lifesaver! Thank you SO MUCH!

[@QbuniversityOrg]

You’re welcome!

[@cottagekeeper]

Do you have a tutorial showing how to fix a transaction that was manually entered expense and categorized incorrectly to a bank, in the previous year?

[@QbuniversityOrg]

Not sure, that’s fairly specific. If it was just categorized wrong and does not affect profit then just change the category. If it does affect profit then I would do a journal entry in the current year to change it

[@AlliKay0308]

I’m attempting to reconcile from 01/2020. I am new at this position and I am unable to figure out the issue. What’s the best way to reconcile adequately when you have no idea if this was an issue in 2019, 2018 or even prior. In looking at past reconciliations and reports I gather that the person prior forced the cleared balance w out adequately reconciling.

[@janecruse8746]

I have a discrepancy in my starting balance but when I go to the "help you fix it" the report is blank? The amount is $35K. Why is this blank? How can I figure out what transactions equal the $35K?

[@QbuniversityOrg]

Have you checked the check register to see what might have been entered there? Maybe an opening balance or something ?

[@imagine8273]

I have the same thing it says I have a $10,000 discrepancy cannot find it anywhere and it’s my first one did you get your problem fixed

[@QbuniversityOrg]

@@imagine8273 Is it your opening balance for the account maybe?

[@imagine8273]

@@QbuniversityOrg No my opening balance was $50 every single thing matches but I had hired a girl they didn’t know shit so I had to redo everything so I unreconciled that account and all of a sudden this $9000 discrepancy appeared when I was trying to close everything out almost 10,000 and I can’t find that deposit or anything anywhere

[@imagine8273]

@@QbuniversityOrg No my opening balance was $50 every single thing matches but I had hired a girl they didn’t know shit so I had to redo everything so I unreconciled that account and all of a sudden this $9000 discrepancy appeared when I was trying to close everything out almost 10,000 and I can’t find that deposit or anything anywhere anywhere

[@kassandratorres2920]

This is helpful, but I'm still experiencing an issue with a transaction. It shows I manually added a transaction, yet it also shows it was matched to a transaction to the bank account. I unmatched the transaction in the hopes it would reverse the problem, but it did nothing. I'm confused because it looks like a transaction that was split, so I'm unsure how anything was manually added

[@QbuniversityOrg]

I'm not sure - you will have to dig into the manual transaction to see what it was and how it was entered

[@reaganhernandez5861]

I have a huge HUGE problem!! Please help!! I manually downloaded bank statments and reconciled for 4 mths.. then I finally got the bank connected.. I noticed that the manual account was this there with a 13k balance.. I deleted the account but it still showed up on Balance sheet 13k over.. I called quickbooks and two people later 6 hours later.. they messed up all my 5 mths of reconciliation, and they merged my bank account ..which made the balance 13k more.. then said good bye.. so now I can't even see Jan thou April transactions to reconcile it . please please give me advice on what to do.... thank

[@LauraWise-uc2hh]

I was paying QB to manually convert my data from Sage 50 to QBO. This has been going on for 7 months! I finally have given up and am trying to fix all the mistakes myself. I am new to QBO so, what in the heck is the reconciliation adjustment account and what do I do with it? They put over $340,000 in it! Does that automatically close out to retained earnings after the first year?

[@QbuniversityOrg]

That’s a plug account where balances are put when checking accounts don’t reconcile. It essentially means when reconciling those transactions were not in QB so now the books are being plugged to get the checking account to balance. If it’s an expense account, which it should be, then it will close to Retained earnings at year end

[@chewie1355]

I get a bounced check, I think I fixed it BUT to later have reconciliation issues.

[@QbuniversityOrg]

What are the reconciliation issues?

[@renee5935]

Why are transactions are not showing....

[@QbuniversityOrg]

No idea it could be one of 10 different reasons

[@ma.mermanepomuceno6036]

Can you help me with how to delete or undo the wrong statement that has been reconciled? I for an error when trying to redo the succeeding months.

[@brookepellechia7764]

So i cleared all of my discrepancies out and now im at the last step but it says there is still a difference of 1,275.18 and that number isnt on any of my bank statements or where i can check off payments or deposits.

[@QbuniversityOrg]

Does your beginning balance match? Are there possibly duplicated transactions entered that both got checked off? Is it a combination of a few transactions that add up to that total?

[@tiffaniestewart7880]

I recorded a check using the Pay a bill since it is used to buy product and add to our inventory. The bank processed the check for $18 more. I am not sure how to handle this. I use the match function daily and that is where I am stuck. The bank in turn has given us an $18 credit which shows up in Banking. Let's say the bill we paid was $1202 and the ck was processed for $1220. Do I just change the amount of the check to correspond with the bank? and wouldn't that affect my inventory? Please advise. Thank you.

[@FlamesCagney]

I reconciled a couple of years. Some transactions. I changed. Weeks later QBO gave me errors wth?

[@QbuniversityOrg]

What kind of errors?

[@FlamesCagney]

@@QbuniversityOrg Amount changed, usually

[@petsexpo129]

Can you please upload any video of QuickBooks clean up?

[@QbuniversityOrg]

That’s pretty broad. Anything specific?

[@AuntyFabulous23]

Is there one for when ending balance is off?

[@QbuniversityOrg]

You’ll have to go back and review the transactions to make sure everything is captured

[@CurtSearcy]

When I open my invoices, the top of the page shows unpaid invoices. When I open the invoice, it shows a partial payment instead of full payment. Every time I change the payment to full payment, it shows another invoice with partial payment. It just keeps adding another job for everyone I fix. Now my reconciliation is completely screwd up.

[@QbuniversityOrg]

That’s really strange. It sounds like a glitch in the software. Have you called QuickBooks about it?

[@CurtSearcy]

@@QbuniversityOrg I have not. I've been watching the videos on fixing discrepancies and I'm not making any headway either. I open a transaction and the boxes are greyed out. I hit edit and enter the amount received and save the change and nothing happens,

[@QbuniversityOrg]

@@CurtSearcy I honestly don’t know. It sounds like a software issue to me. I would call Intuit

[@libbyrice3617]

Great

[@tinalarkin2147]

im trying to reconcile an account that has no transactions but displays interest which blocks me to getting to $0 difference. what to do? thanks in advance.

[@QbuniversityOrg]

Enter the interest in the opening recon screen and be sure it was entered in the register and it should reconcile fine

[@tinalarkin2147]

@@QbuniversityOrg I truly thank you for your response as I'm new to QBO. However, I do see the 17 cents in the register labeled as "deposit" and "interest income". when I try to reconcile, there is nothing to "blue check" in QBO reconcile page to cancel out the -0.17 so I may get to $0 and move on to the next month. what else is there to edit/change/view? hmm...

[@QbuniversityOrg]

@@tinalarkin2147 make sure the deposit is in the right account, date is correct, etc first to knock out the easy solutions

[@tinalarkin2147]

@@QbuniversityOrg ok, yes it is.

[@QbuniversityOrg]

@@tinalarkin2147 and you are entering the ending balance when you start the recon?

[@user-bm3kn9yy1m]

Hi! What if you intended to delete the deposit that is appearing as a discrepancy? For example, I am showing a list of many deleted deposits that were from a third party application that basically create a duplicate deposit on the register. I already record the actual bank deposit that went into the account straight from Airbnb but this second/duplicate deposit is coming from a third party so I deleted them and they are now causing the discrepancy. How do I fix the bank reconciliation to show that I do not need those duplicate deposits?

[@QbuniversityOrg]

Can you delete them, unreconcile that month then rereconcile?

[@user-bm3kn9yy1m]

I will give that a shot!

[@QbuniversityOrg]

@@user-bm3kn9yy1m awesome let me know if it works!

[@Jojo-rz9vz]

Great content! thank you!. I had an issue when doing reconciliation on my CC, there' s the difference but i cant find where that amount came from, my bank statement is correct i did check it 1 by 1. steps i did check the opening balance, went to register but cannot locate that difference. what do i need to do to fix this ? thank you.

[@QbuniversityOrg]

It’s got to be somewhere? Are all the dates entered correctly for the transactions and the statement date entered correctly? Any duplicates in QuickBooks? How big is the difference?

[@Jojo-rz9vz]

@@QbuniversityOrg yes all dates entered correctly every line on my statements are match. the difference its only $2. Do we always follow the bank statement?

[@QbuniversityOrg]

Awesome!

[@QbuniversityOrg]

@@Jojo-rz9vz for a $2 difference I wouldn’t waste time looking. Force the reconciliation and put the difference to Other Expense

[@Jojo-rz9vz]

@@QbuniversityOrg thank you for your response. What would be the implacation if i force it to finish now even if there's difference. Will this still shows up and do the same for the rest of the months?

[@dedemcclure9959]

Are you reachable - i have a tiny mess in my journal entries - PR JE that I reconciled then deleted after the fact without Unreconciling --- and it is wrecking havoc

[@QbuniversityOrg]

Can you simply unreconcile, re-record the entry then reconcile again?

[@dedemcclure9959]

@@QbuniversityOrg I did that and I still came up with the same item on three seperate deleted journals showing R. Had to unreconcile three months of work - and still - arrrghhhhh - I really boofed it - can't stay away from accounting and QB for 10 years and think you can fly out of the gate...

[@dedemcclure9959]

I made the mistake of deleting the JE's before unreconciling - that is the rabbit hole I fell into---

[@QbuniversityOrg]

@@dedemcclure9959 Do you do payroll through QB or an outside payroll provider? If you unreconcile, add the JE back in and then rereconcile, it should work?

[@QbuniversityOrg]

@@dedemcclure9959 in theory you could also go ahead and add in the JE's and next time you reconcile, the beginning balance will be off, but you can clear the AJE entries and it should bring you back to your ending balance

[@ld1200]

Can you make your font larger?

[@QbuniversityOrg]

ld1200 are you asking me to make my font larger or if you can make the font larger in QBO?

[@ld1200]

Your fonts. I can't read the screen

[@QbuniversityOrg]

@@ld1200 try expanding the screen to full screen. Also are you watching on a phone?

[@ld1200]

@@QbuniversityOrg I'm watching on a tablet. Yes, I watch on full screen, then it becomes blurry. Thank you for trying to help me

[@QbuniversityOrg]

@@ld1200 there is a gear at the bottom right of the video and in there you will Playback quality - try changing it to HD

[@florencemarcelin7068]

great i do make 3900 dollars with this video ,thank you

[@QbuniversityOrg]

Is this a question?

[@fullkaukau]

You go to fast

[@QbuniversityOrg]

Ok