Learn how you can troubleshoot issues when you are reconciling in QuickBooks Desktop:

Talking about the bank reconciliation process, it is the process where the transactions performed will tally with the bank statements or credit card account. After you have entered transactions into QuickBooks online with the use of forms, bank feed, or other third-party data fetching app, you will yet be in need to reconcile the bank accounts in QuickBooks. At some point, you might face certain problems with the QuickBooks bank reconciliation. The process of reconciliation must be done on a regular basis to check the accuracy of the accounting records, which makes it very much important to solve QuickBooks bank reconciliation issues.

It happens sometimes users might get the reconciliation problems while performing some banking tasks. To get a better insight into fixing common QuickBooks bank reconciliation issues, make sure that you stick around this segment carefully till the end. Or connect with at 1-800-761-1787, and let our tech geeks handle the situation for you.

What causes ending balance issues in QuickBooks desktop?

You may get reconciliation issues if your accounts in QuickBooks Desktop don’t match your bank statements at the end of reconciliation.

  • It might be you have entered wrong ending balance at the start of the reconciliation.
  • There might be someone edited or deleted transactions that were already reconciled.
  • There are missing/duplicate transactions in QuickBooks desktop.
  • Might be you have entered transactions into QuickBooks that has not cleared your bank yet.
  • If Someone made an adjustment to your last reconciliation with a journal entry.

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Solutions steps for fixing QuickBooks bank reconciliation issues

You can perform the below steps, so as to chuck off the QuickBooks bank reconciliation issues. Make sure to read the steps carefully:

Step 1: Reviewing the opening and beginning balances

Start off with checking the opening and balances and ensuring that they are correct.

Step 2: Look for changes, deleted, or added transactions

There are various reports in QuickBooks that let you inform if anything has been changed, deleted or added:

Running a reconciliation discrepancy report

Talking about the reconciliation discrepancy report, it confirms any transactions that have changed earlier since the last reconciliation was performed. Steps to be performed herein are:

  • Move to the reports menu and also to the banking option and select reconciliation discrepancy.
Reconciliation discrepancy - Screenshot Image
  • You need to now select the account that you are reconciling currently and hit ok tab.
  • Review the report and look for any damages.
  • Talk to the person who made changes. Once you know the reason behind the changes being made, make sure to edit the transaction.

Run missing check report

Running this report can show you whether you have any missing check or not.

  • Herein, you would have to move to the reports menu and further click on banking option and select missing checks.
Missing checks - Screenshot Image
  • You need to now select the account that you are reconciling and hit ok tab.
  • The next step is to review the report and look for any transactions that have entered on the report that aren’t on the bank statement.

Running a transaction detail report

  • In this report, you need to move to the reports section and move to the custom reports and select the transaction detail.
Transaction detail - Screenshot Image
  • Go for the display tab.
  • You need to now select the earliest date in QuickBooks for the account.
  • Else leave it blank.
  • Choose the date of the last reconciliation.
  • Head to the filters tab.
  • Select the account you are reconciling from the account field menu.
  • Set the date from to the date of the last reconciliation. Set the date to the field to today’s date.
  • Click on ok tab to run the report.
  • Look for any discrepancies or transactions that don’t match with the bank statement or credit card account.
  • In last talk to the person who made the change. Edit the transaction as per your convenience.

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Step 3: Search for the reconciliation adjustments

At times, make a reconciliation adjustment to match their bank records in QuickBooks online forcefully. In such situation, you need to look for the reconciliation adjustment.

  • Move to the lists menu and choose chart of accounts tab.
  • Further, open the reconciliation discrepancies account.
  • From the dates field, and set the dates for the last few reconciliations.
Search for the reconciliation adjustments - Screenshot Image
  • Just in case, you see any adjustments that are making the account balance incorrect, then contact who made changes in the adjustment.

Step 4: Finish reconciling

Now you can finish reconciling once everything is fixed. However, if you are unable to find any issues in your accounts then you may need to undo the previous reconciliation until the opening balance is correct.

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Summing up!

The bank reconciliation issues in QuickBooks desktop can be easily rectified with the steps that we have tried to mention in above. However, as always, if you have query, comments, or concerns, reach out to us at our QuickBooks error support number i.e., 1-800-761-1787.

Our team of accounting experts will provide your business the right support that it needs to eliminate errors and other accounting related glitches, ensure success and save some serious money. We have the most relevant solutions to all your problems and other accounting software related issues.

 

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