A QuickBooks Reconciliation Discrepancy occurs when the balances in your QuickBooks account do not match your bank or credit card statements. This issue can arise due to various factors such as deleted or modified transactions, duplicate entries, or data entry errors. To resolve this discrepancy, start by reviewing the Reconciliation Discrepancy Report. Go to Reports > Banking > Reconciliation Discrepancy to identify any changes made to previously reconciled transactions. Next, check for any duplicate transactions or incorrect entries and correct them as needed. Additionally, review the Audit Trail Report (Reports > Accountant & Taxes > Audit Trail) to track changes and deletions. If you find deleted transactions, re-enter them. Verify that the opening balance in QuickBooks matches the statement balance from your bank. If the discrepancy persists, consider using the Undo Last Reconciliation feature to reset the reconciliation process and start over. By following these steps, you can effectively resolve QuickBooks Reconciliation Discrepancies and ensure your accounts are accurate and balanced.
Source URL : https://community.fabric.microsoft.com/t5/Desktop/How-to-Resolve-QuickBooks-Reconciliation-Discrepancy/m-p/3833983
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