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Tips for resolving account discrepancies during reconciliation

When your QuickBooks account doesn't balance with your statement, here are some tips for resolving the differences.

First, answer some basic questions:

  1. Are you trying to match the wrong account?

    If you are trying to match the wrong account, switch to the correct one and start again.

  2. Does the beginning balance on the statement match the beginning balance on the Begin Reconciliation window?

    Check to see if the initial state of your account (entered when you created the account) is correct. Have you inadvertently made changes to previous reconciliations, changed the amount, changed the account, deleted a transaction, or changed the cleared state? You must correct any of these issues to continue.

  3. Are all transactions on your statement marked with a checkmark in your Reconcile window?

    Look for missing transactions and correct them. Also, enter and clear any transactions that don't yet appear in QuickBooks.

  4. Does the ending balance in the Reconciliation window match the one on the statement?

    Click Modify and correct the ending balance so that it matches.

  5. Are there checkmarks on transactions in the Reconciliation window that don't appear on your statement?

    Clear the checkmarks on any transactions that don't appear on the statement.

Look for the following typing or data entry errors:

  • Transposed numbers

  • Incorrectly categorized transactions (deposits should be added, checks should be subtracted)

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