It arises due to reconciliation adjustments like a previously reconciled transaction or Journal entries might have been changed, deleted or added etc. To get clarity, users can call our toll-free QuickBooks tech Support Number.
When these errors crop up, users might have to stop their work. It’s important to remove the issues from the system as soon as possible. For any kind of complete resolution, the user first needs to understand that why this error happens and what are the causes of the reconciliation discrepancy in QuickBooks.
Some of the causes are described below:
- Arrangement of Reconciliation
- Past reconciled transactions have any kind of modification like addition or deletion.
Steps to resolve the bank reconciliation discrepancies in QuickBooks:
QuickBooks Desktop offers multiple reports which support how to classify reconciliation discrepancies and resolve any issue related to such transactions:
- Reports of Reconciliation Discrepancy
- Reports of missing checks
- Reports of Transaction Detail
- It completely depends on the reasons; they can perform these steps to resolve the bank reconciliation discrepancies in QuickBooks software.
Missing or Modified Transactions
Reconciled transactions that were added, modified and deleted after they were last reconciled will influence the opening balance. There are multiple reports applicable in QuickBooks 2018 Desktop that will support the user to identify the discrepancies and fix the transactions.
Report of Reconciliation Discrepancy: These reports show them transactions arrangement by statement declaration date.
- Go to the Reports and select Banking. Tick on Reconciliation Discrepancy from the Reports menu.
- Choose the Appropriate Account then tick on Ok.
- Analyse the reports regarding any discrepancies
- Reports of missing checks: This report supports the user to find absent transactions.
- Select Banking, then tick on Missing Checks from the Reports Menu.
- Choose the Appropriate Account and tick on
- For the transaction, click on the Analysis the report and complete the task.
Report of Transaction Details: This report supports the user to find a transaction that was modified or changed in any way.
- Choose the Customer Reports, then tick on the Transaction Detail from the reports menu option
- Go into the display tab, choose the following date form
- Date Form.
- Date To.
- Go into Filter Tab and select the following:
Last Modified/ Entered:
- Date From
- Date To
Arrangement of Reconciliation
To fix the problem, the user might have to review the QuickBooks Reconciliation Discrepancy account for inappropriate arrangement:
- Tick on the Chart of Accounts, and tick on the Company Menu.
- Select and double tick on the Reconciliation Discrepancy Account and check the error.
The user can rectify the opening balance and continue with reconciling to the current month making sure the opening balance is rectified for each month. If the user requires support rectifying the opening balance, refer and check whether Reconcile window creation balance is incorrect or zero. This article would help the user to fix the reconciliation error. If the user requires any further assistance, dial our QuickBooks 24/7 Tech support helpline 1800-865-4183.