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Find and correct the differences yourself

If you want your account to balance exactly with your statement, you must track down the source of each difference and update your QuickBooks records. You can either correct the differences yourself, or you can have QuickBooks adjust for the differences. You should only have QuickBooks adjust for the differences if you're willing to ignore the differences.

To do this task

  1. Count the number of transactions on your bank or credit card statement and compare the total against the number of transactions that you marked as cleared in the Reconcile window.

  2. If the number of transactions you marked is different from the number of transactions on your statement, look for the source of the discrepancy.

    Look for places where you:

    • Missed recording a transaction in QuickBooks

    • Missed marking a transaction as cleared

    • Mistakenly marked a transaction as cleared

    • Entered a transaction twice in QuickBooks

    • Entered a deposit as a payment or a payment as a deposit

    • Entered a charge as a payment or a payment as a charge

    You don't have to count the marked transactions. The lower left corner of the Reconcile window shows the number and total amount of the transactions you marked.

    Here's an example from reconciling a bank statement:

    Items you have marked cleared  23 Deposits and Other Credits 15,782.50  75 Checks and Payments 10,407.93

    The number of deposits includes interest you entered in the Reconcile window. The number of credits includes any service charge you entered.

  3. If you're sure that you marked the transactions correctly, compare the amounts shown in the Reconcile window against the amounts on your statement. Then, if you find a difference, correct the amount.

    correct the amount
  4. If you can't find any errors or omissions in your QuickBooks records, the problem may be the result of a bank error. See Handle bank errors.

10/22/2016 4:37:46 PM
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