# **QuickBooks Reconciliation Discrepancy: How to Run Report , where to Find?, and How to Fix It?**

Understanding how to identify and resolve a **QuickBooks reconciliation discrepancy** is essential for maintaining accurate accounts and reliable bookkeeping.

We’ll explore the causes, step-by-step solutions, real examples,**How to run a reconciliation discrepancy report in QuickBooks Online?**,**Where is the reconciliation Discrepancy report?** and expert tips for fixing **QuickBooks reconciliation discrepancy** efficiently.


## **What Is a QuickBooks Reconciliation Discrepancy?**

A **QuickBooks reconciliation discrepancy** occurs when the ending balance in QuickBooks doesn’t match your bank or credit card statement after reconciliation.

This discrepancy can happen due to:

- Missing transactions
- Duplicate entries
- Edited or deleted reconciled transactions
- Incorrect opening balances

## **Common Causes of QuickBooks Reconciliation Discrepancy**

### **1. Edited or Deleted Transactions**
Changing or deleting a transaction after reconciliation can create a **QuickBooks reconciliation discrepancy**.

### **2. Duplicate Transactions**
Importing transactions twice from a bank feed often results in duplicates, causing a **QuickBooks reconciliation discrepancy**.

### **3. Incorrect Opening Balance**
An incorrect opening balance will propagate through each month, triggering **QuickBooks reconciliation discrepancy** in subsequent reconciliations.

### **4. Timing Differences**
Pending checks, bank delays, or deposits in transit may create temporary **QuickBooks reconciliation discrepancy**.

## **How to Identify QuickBooks Reconciliation Discrepancy ?**

- Compare your **bank statement ending balance** with QuickBooks
- Use the **Reconciliation Discrepancy Report**
- Check for **uncleared or mismatched transactions**
- Review previous reconciliations to find errors

This helps pinpoint the root cause of **QuickBooks reconciliation discrepancy**.

## **Step-by-Step Guide How to Fix QuickBooks Reconciliation Discrepancy?**

### **Step 1: Review Previous Reconciliations**
- Go to **Reports > Banking > Previous Reconciliation**
- Compare cleared transactions to find inconsistencies

### **Step 2: Check for Edited or Deleted Transactions**
- Look for transactions marked as reconciled but later modified
- Undo changes if needed to correct **QuickBooks reconciliation discrepancy**

### **Step 3: Verify Opening Balances**
- Ensure the opening balance matches the bank statement
- Adjust if necessary to prevent recurring **QuickBooks reconciliation discrepancy**

### **Step 4: Identify Duplicates**
- Check for duplicate deposits or payments
- Remove duplicates carefully

### **Step 5: Match Bank and QuickBooks Transactions**
- Reconcile each item one by one
- Ensure total cleared amount matches statement balance

### **Step 6: Use Reconciliation Reports**
- Generate **Reconciliation Discrepancy Report**
- Review suggested corrections for **QuickBooks reconciliation discrepancy**

## **QuickBooks Reconciliation Discrepancy Example**

**Example:**
- Bank statement ending balance: $15,000
- QuickBooks ending balance: $14,850

Upon review:
- A $150 bank fee was missing in QuickBooks
- Adding this transaction resolves the **QuickBooks reconciliation discrepancy**

This simple example demonstrates how small issues create discrepancies.

## **Expert Tips to Avoid QuickBooks Reconciliation Discrepancy**

- Reconcile **monthly without delays**
- Never delete reconciled transactions
- Review bank feeds carefully before accepting matches
- Keep backup copies of reconciliations
- Investigate discrepancies immediately

Following these tips reduces recurring **QuickBooks reconciliation discrepancy**.

# **How to Fix Reconciliation Discrepancies in QuickBooks Online?**

A **reconciliation discrepancy in QuickBooks Online** happens when the ending balance in QuickBooks doesn’t match your bank or credit card statement. This can cause inaccurate financial reports and confusion during audits.

Fixing reconciliation discrepancies promptly ensures your books remain accurate and trustworthy.

## **Step 1: Identify the Discrepancy**

1. Go to **Settings ⚙️ > Reconcile**.
2. Choose the account you want to reconcile.
3. Compare the **QuickBooks ending balance** with your **bank statement ending balance**.
4. Take note of the difference (positive or negative).

> Tip: QuickBooks Online will often show a “Difference” field during reconciliation. This is your starting point for investigation.

## **Step 2: Review the Reconciliation Report**

1. Go to **Reports > Reconciliation Reports**.
2. Select the account and period in question.
3. Review:
- Cleared transactions
- Deposits
- Payments
- Any adjustments made

This helps identify transactions causing the discrepancy.

## **Step 3: Check for Edited or Deleted Transactions**

- Look for transactions that were **reconciled previously but later edited or deleted**.
- To locate them:
1. Go to **Accounting > Chart of Accounts**
2. Select the account
3. Filter by **Reconciled** transactions
- Correct any modifications to match your bank records.

## **Step 4: Verify the Opening Balance**

- Compare the **opening balance in QuickBooks Online** with the starting balance on your bank statement.
- If the opening balance is wrong, it can create ongoing discrepancies.
- Adjust the opening balance **carefully**, ensuring you document the change.

## **Step 5: Identify Missing or Duplicate Transactions**

- Check for transactions that may have been **entered twice** or **not recorded at all**.
- Use the **Banking tab / Bank Feed** to match missing transactions.
- Remove duplicates and add any missing deposits or payments.

## **Step 6: Reconcile Step by Step**

1. Go to **Settings ⚙️ > Reconcile**
2. Enter the **statement ending date** and **ending balance**
3. Review each transaction individually:
- Mark cleared transactions
- Ensure totals match the bank statement
4. When the difference shows **$0.00**, click **Finish Now**

> Tip: Don’t rush. Carefully matching each transaction prevents recurring discrepancies.

## **Step 7: Use QuickBooks Online Tools for Assistance**

- **Undo Reconciliation**: If the discrepancy is too complex, you can undo the reconciliation for that period.
1. Go to **Accounting > Chart of Accounts**
2. Click **View Register**
3. Locate the reconciliation and select **Undo**
- **Reconciliation Discrepancy Report**: Shows transactions that may be causing errors.

# **How to Run a Reconciliation Discrepancy Report in QuickBooks Online ?**

A **reconciliation discrepancy report in QuickBooks Online** helps you identify transactions that may have been edited, deleted, or entered incorrectly after reconciliation. Running this report is an essential step in resolving discrepancies and ensuring accurate financial records.

## **Step 1: Open QuickBooks Online**

1. Log in to your **QuickBooks Online account**.
2. Make sure you have the correct **user permissions** (Admin or Accountant role may be required for reports).

## **Step 2: Navigate to Reports**

1. On the left-hand menu, click **Reports**.
2. In the search bar at the top, type **“Reconciliation Discrepancy”**.

> QuickBooks Online will display the **Reconciliation Discrepancy Report** in the search results.

## **Step 3: Select the Report**

1. Click on the **Reconciliation Discrepancy Report**.
2. Select the **account** for which you want to check discrepancies (bank or credit card).
3. Choose the **date range** if needed.

> Tip: Using a full fiscal year range can help detect older discrepancies.

## **Step 4: Review the Report**

The report will show transactions that may have caused a discrepancy, including:

- **Transactions that were reconciled but later modified**
- **Deleted transactions** that were previously reconciled
- **Unreconciled transactions** that may affect balances

> Each transaction entry includes the **type**, **date**, **original reconciliation period**, and **amount**, making it easy to identify the cause of discrepancies.

## **Step 5: Take Action**

Once you identify the discrepancies:

- **Edit or correct modified transactions** to match your bank statement.
- **Re-enter deleted transactions** if necessary.
- **Reconcile affected months** after correcting errors.

This ensures your **QuickBooks Online account** is accurate and prevents future discrepancies.

## **Step 6: Save or Export the Report**

1. Click **Export** at the top-right of the report.
2. Choose **Excel** or **PDF** format to save a copy for recordkeeping or sharing with your accountant.

> Saving the report provides documentation for audits and internal review.

## **Expert Tips for Using the Reconciliation Discrepancy Report**

- Run this report **monthly** after completing reconciliation.
- Keep a **backup of your QuickBooks data** before making changes.
- Use this report to **identify patterns** that cause recurring discrepancies.
- Always reconcile **one month at a time** to avoid compounding errors.

The **Reconciliation Discrepancy Report in QuickBooks Online** is a powerful tool for identifying and resolving issues with reconciled transactions. Regularly running this report helps maintain accurate books and ensures that your financial reports match your bank statements.

# **Where Is the Reconciliation Discrepancy Report in QuickBooks Online?**

The **Reconciliation Discrepancy Report** in QuickBooks Online helps identify transactions that were reconciled but later edited or deleted, allowing you to resolve discrepancies in your accounts.

## **Step 1: Log in to QuickBooks Online**

- Open your browser and log in to your **QuickBooks Online** account.
- Ensure you have **Admin** or **Accountant** permissions, as standard users may not have access to this report.

## **Step 2: Go to Reports**

1. From the left-hand menu, click **Reports**.
2. In the search bar at the top, type **“Reconciliation Discrepancy”**.

> QuickBooks Online will display the **Reconciliation Discrepancy Report** in the search results.

## **Step 3: Select the Report**

1. Click on the **Reconciliation Discrepancy Report**.
2. Select the **account** (bank or credit card) you want to review.
3. Choose the **date range** for the report.

> Tip: For identifying older issues, use a full fiscal year as the date range.

## **Step 4: Review the Report**

The report displays transactions that may be causing discrepancies, including:

- Transactions that were reconciled but later **edited**
- **Deleted transactions** that were previously reconciled
- **Unreconciled transactions** affecting balances

Each entry shows:

- Transaction **type**
- Transaction **date**
- **Original reconciliation period**
- Transaction **amount**

This makes it easy to identify the root cause of discrepancies.

## **Step 5: Take Action**

After identifying discrepancies:

- Correct or re-enter modified or deleted transactions.
- Reconcile the affected period(s) to ensure balances match your bank statements.

> Regular use of this report helps prevent recurring reconciliation discrepancies in QuickBooks Online.

## **Quick Tips**

- **Export the report** to Excel or PDF for backups or sharing with your accountant.
- Run the report **monthly** after completing reconciliations to monitor discrepancies.
- Keep a record of corrections for audit purposes.
## **Expert Tips to Prevent Reconciliation Discrepancies**

- Reconcile **monthly**, not quarterly.
- Avoid deleting reconciled transactions.
- Double-check imported bank feed entries before accepting them.
- Keep detailed notes of adjustments or corrections.
- Always back up financial data before making changes.

## **Conclusion**

Dealing with a **QuickBooks reconciliation discrepancy** doesn’t have to be stressful. By understanding common causes, using reports, and following best practices, you can maintain accurate accounts and avoid financial headaches.

## **FAQs**

### **1. What causes QuickBooks reconciliation discrepancy?**
Main causes include edited/deleted transactions, duplicate entries, timing differences, and incorrect opening balances.

### **2. How do I find QuickBooks reconciliation discrepancy?**
Run the **Reconciliation Discrepancy Report** and compare with your bank statement.

### **3. Can I fix QuickBooks reconciliation discrepancy manually?**
Yes, by reviewing previous reconciliations, checking transactions, and correcting balances.

### **4. Does QuickBooks prevent reconciliation discrepancies?**
QuickBooks provides tools like **bank feeds** and **discrepancy reports**, but human oversight is essential.

### **5. How often should I reconcile accounts?**
Monthly reconciliation is recommended to prevent ongoing **QuickBooks reconciliation discrepancy** issues.