Reconciliation is a very important task in QuickBooks as it verifies the transactions in a given period of time and tells the correct financial health of the company. If there is any difference between the previous reconciled account and next reconciliation then it means that your account has reconciliation discrepancies.  You can contact QuickBooks Support Phone Number +1800-778-7614 for reconciliation issues in QuickBooks. Here in this article we are going to discuss the resolution of Reconciliation Discrepancies in QuickBooks.

What Are The Causes Of Reconciliation Discrepancies?

The Reconciliation discrepancies in QuickBooks might be caused due to one of the following reasons:

  • Any type of modification, deletion or addition in previously reconciled transactions.
  • Any type of reconciliation adjustments (Journal entries, etc.)

How To Fix Reconciliation Discrepancies?

As per the causes, follow the below steps to fix reconciliation discrepancies:

Scenario 1: Modified, Deleted or Added Transactions

You can identify the discrepancies with the help of various reports available in QuickBooks:

Reconciliation Discrepancy Report: This report displays the transactions arranged by statement date that were modified since the last reconciliation.

  • Select the Reports menu> Banking > Reconciliation Discrepancy.
  • Choose the correct account and then click OK.
  • Verify and check the report to identify any discrepancies.

Missing Checks Report:  You can view and check the missing transaction with the help of this report:

  • Open the Reports menu> Banking > Missing Checks.
  • Select the correct account and then click OK.
  • Review the report for transactions that don’t match your bank statement.

Transaction Detail Report: You can verify transactions that were changed or modified with the help of this report.

  • Open the Reports menu> Custom Reports > Transaction Detail.
  • Under the Display tab, select the following:
    • Date From
    • Date To
  • Select the following under the Filters tab:
    • Account
    • Entered/Last Modified
    • Date From
    • Date To
  • Click OK to Run the report.

Scenario 2: Reconciliation Adjustment

Any type of forced reconciliation which made any reconciliation adjustment can also cause discrepancy.  You need to review the reconciliation discrepancy account for improper adjustments:

  • Open the Lists menu and then click Chart of Accounts.
  • Double-click on the Reconciliation Discrepancies account.
  • Choose the appropriate filter From the dates drop-down.

Get Technical Support

You can contact Intuit QuickBooks Tech Support Phone Number +1800-778-7614 if you need any assistance in following the above steps. You can also get stepwise assistance on QuickBooks Live Chat Support. We have a team of skilled and responsible technician who work round the clock to provide you uninterrupted support for QuickBooks issues or errors.

0 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 50 votes, average: 0.00 out of 5 (0 votes, average: 0.00 out of 5)
You need to be a registered member to rate this.
Loading...