How to Fix a Reconciliation Discrepancy in Quickbooks - 2 Common Errors

[@GordonJohansen]

In 20 years, I don't think I've ever used the discrepancy report so never even noticed it. Now that I have a major error somewhere in the past due to an accidental deletion, this is going to be incredibly useful. Thank you for pointing it out. Great videos.

[@QbuniversityOrg]

Thanks and you're welcome!

[@janeh5949]

me too Teresa. it only shows SOME deletions.. but not all

[@janeh5949]

my QBDT discrepancy report only offers "Previous Reconciliation Discrepancy...." I don't see a date range

[@noemir8262]

I entered a check using an incorrect February 2020 date instead of 2021. I corrected the date and I’ve only started recording entries in Quickbooks starting in January 2021. I didn’t see any discrepancy in the reconciliation report. So what do I do now? How do I reconcile February again now that we are later in the year? Is it as easy as adjusting the dates when I open reconcile box?

[@QbuniversityOrg]

What you would have to do is unreconcile each month back to February then rereconcile all those months again

[@noemir8262]

@@QbuniversityOrg Yikes! I’m glad I asked. Thank you! We are refinancing our home and need to present a decent profit and loss statement this coming week to the bank. Enjoy the rest of your weekend!

[@QbuniversityOrg]

@@noemir8262 you too!

[@akay1014]

I opened a company Jan 1. No previous recon or prior balance. Started with a zero balance. Everything is fine until I reconcile and there is a $10 difference under the cleared balance. All my checks and deposits match. When I do it by hand I balance when QB does it I have a difference under cleared of $10. Meaning Ending balance is $12988.07 Cleared Balance is $12978.07 difference $10 I checked all my entries and they are perfect HELP

[@QbuniversityOrg]

Just reconcile and leave the difference as an adjustment. Put it to Misc Expense. It’s too immaterial to waste time on

[@akay1014]

I actually found it. I had done journal entries 35 for bank charges and 25 for interest earned. $10 difference. Yet in the beginning I also entered those amounts. Once I didn't list those two it was fine and balanced. Boom !

[@QbuniversityOrg]

@@akay1014 awesome!

[@ajotadira7725]

Hi I have a question, I have to fix a mistakes that I did begining on June, and after all that everything in this account is a mess, my question is Can I delete everything that is already reconciliated, and begin everything again, or I have to create another account, and enters everything from last year? Please help me

[@QbuniversityOrg]

You can delete it and restart

[@jelissaroman-stephens8784]

need help with QB reconciliation discrepancy but my version is online so I cant follow, any help?

[@QbuniversityOrg]

Watch this video kzbin.info/www/bejne/jJzCh6eOp8p_o9k

[@christynaknott9176]

I have a client that will cash payroll checks for their employees that are below $100. Since they have not cleared the bank what do I do with these checks that show up on the reconciliation page?

[@QbuniversityOrg]

What I would do is change the check number to something other than a check, like "Cash" and then change it to come out of whatever account it's coming out of, like Petty Cash. It depends on where they are getting the cash to cash the checks.

[@sylviaaa3887]

I have a similar problem. There is an uncleared transaction, payment to a vendor that waa recorded as paid with check but it was actually paid with cash. What do I do ?? Do I need to enter a journal entry?

[@QbuniversityOrg]

@@sylviaaa3887 where did the cash come from? This is what you have to first figure out - was it cash from the business or was it some cash the owner had and used to pay the bill?

[@sylviaaa3887]

This was a business cash from petty cash.

[@sylviaaa3887]

I finished bank reconciliation and it shows up as uncleared.

[@ADRI-eg3wi]

Hi, I use qb desktop, I finished the reconciliations for my checking account but I change some things in the General Journal and I want to keep that changes, of course the beginning balance change, so my questions is, can I reconcile again or just can I fix the begging balance for the next reconciliation? Thanks

[@QbuniversityOrg]

You can do either but if the accounts already reconciled and then you changed things, they would not necessarily reconcile after your changes?

[@teresacarter9676]

What if my beginning balance is incorrect but nothing shows up in the discrepancy report.

[@QbuniversityOrg]

Are you running the discrepancy report for the correct time period?

[@teresacarter9676]

@@QbuniversityOrg Should the range be from the last date of Recon to this statement date?

[@teresacarter9676]

I enter the last time I reconciled (8/31/2019) and the end date of Sept. 30, 2019 then refresh. Is this correct?

[@QbuniversityOrg]

@@teresacarter9676 Try running it from 8/1-8/31/19 since this is where the discrepancy most likely lies

[@QbuniversityOrg]

@@teresacarter9676 yep

[@princejag]

Screen is not visible clearly. Make it crystal clear.

[@QbuniversityOrg]

JAGADEESH SAKURU in the lower left of your screen click the gear icon and choose HD

[@dawns4467]

I did manage to make it through creating an invoice to making the payment deposits without a problem, however when I open my reconcile window the invoices that I entered are showing up on the checks and payments side in their total invoice amount. I have received payments on them and they still remain. I'm not sure what I did that caused them to show up there and/or and don't know how to eliminate them. If I click on them to clear them, my balances are affected and my reconciliation no longer balances. Could you possibly help me understand what I may have done wrong