Resolving QuickBooks Error in Reload SQL – A Complete Troubleshooting Guide

A QuickBooks reconciliation discrepancy occurs when the ending balance in QuickBooks does not match the balance shown on your bank or credit card statement. This is a common issue in applications and other accounting software. Fixing these differences is essential to maintaining accurate and reliable financial records. In this guide, we will walk you through simple methods to fix a QuickBooks reconciliation discrepancy. Before proceeding to the resolving segment, you need to understand why it occurs. 

What Leads to QuickBooks Online Reconciliation Discrepancy? 

Here are the reasons that can lead to a discrepancy in the ending balance for the two reports are as mentioned: 

• An incorrect ending balance was entered at the beginning of the reconciliation process

• Transactions recorded in QB that have not yet cleared the bank 

• A transaction that was edited or deleted after it had already been reconciled

• Missing or duplicate transactions in the application 

Practical Fixes that Work for QuickBooks Reconciliation Discrepancy

To address this reconciliation issue, you need to go through our dedicated blog on this segment smoothly: 

Method I: Verify the opening balance

• Access the Lists menu in QB Desktop and navigate to the Chart of Accounts

• Then, find the Opening Balance Equity account

• Now, view the account balance

Method 2: Utilise the QB reconciliation discrepancy report

• First, open the Reports menu 

• Now, keep the cursor over Banking and navigate to Reconciliation Discrepancy > select the account you are reconciling > then tap OK

• Review the report and identify the discrepancies

Method 3: Work on the missing checks report

• First, access the Reports menu > then keep your cursor over Banking and head to Missing Checks

• Select the account that you are reconciling, then press OK

Method 4: Use the QB transaction detail report

• Access the Reports tab > keep your cursor over the Custom Reports > pick Transactions detail > move to the Display tab 

• Choose the earliest date in the app in the Date from field > or you can leave it empty

• Then, select the date of the  last reconciliation in the date to field

• Access the Filters tab > move ahead to the Account field

• Now, select the account you are reconciling for > and navigate to the Entered/last modified option 

• Pick the date of your last reconciliation as the Date From 

• Choose the current as date to > pick which will launch the report

• Lastly, find the transactions that do not match your bank or credit card statement or other discrepancies

Method 5: Check Reconciliation adjustments

• First, access the Lists menu > select Chart of Accounts

• Move to the Reconciliation Discrepancies account option 

• Choose the dates of your last few reconciliations in the Dates field

Method 6: First, undo the last reconciliation you performed, then redo it

• As you are done now, access the Banking menu

• Select the Reconcile > tap on Undo Last Reconciliation

• You will get a message window and pick Continue, followed by OK

Conclusion 

This is all about resolving the QuickBooks reconciliation discrepancy using the methods discussed in the blog above. However, if you are unable to fix this issue, you can consult the specialist by dialing +1(800) 780-3064. They will resolve the issue within a few minutes.