Fix Banking Issues When Reconciling in
QuickBooks Desktop
Banking issues when reconciling can arise in QuickBooks even without online banking integration. While
integration might sometimes introduce issues due to download errors, most reconciliation challenges are
rooted in data entry mistakes or missing transactions. Accurate bank reconciliation is essential for firms to
keep precise financial records.
Regular monthly reconciliation detects disparities between records and bank statements, allowing users to
correct errors and examine irregularities. Furthermore, it generates timely alerts for any fraudulent activity.
In QuickBooks, reconciling bank and credit card accounts on a regular basis ensures that financial data is
reliable and accurate. For additional information, go through this blog.
FACING BANKING ISSUES WHILE RECONCILING IN QB DESKTOP? LOOK NO FURTHER
FOR PROFESSIONAL HELP! GET TO OUR SUPPORT TEAM VIA +1.833.802.0002.
What Leads to Reconciliation Issues in QuickBooks?
The two most common elements triggering reconciliation issues in QuickBooks are
mentioned here.
1. One of the major factors responsible for reconciliation issues could be missing checks. If
there’s no proper record of checks in the QB Desktop, it may lead to issues between the
bank statement and QuickBooks records. Incorrect QuickBooks modifications might also
result in reconciliation issues.
2. These errors arise when modifications are done incorrectly or without adequate
documentation, causing reconciliation discrepancies in QuickBooks Desktop and the bank
: statement.
Solutions to Manage Banking Errors While Reconciling in QuickBooks
To fix the banking errors while reconciling in QuickBooks, try out these steps.
Step 1: Review the Original Opening Balance
In QuickBooks, the opening balance serves as the basis for accounts. If it is inaccurate, all
upcoming reconciliations are impacted. Ensure your opening balance is correct before
proceeding to the next step.
Step 2: Check Your Bank Statement.
Make sure you are reconciling the correct account for the correct month:
1. Go to ‘Transactions’ and then select ‘Reconcile.’
2. From the ‘Account’ menu, click on the account you want to reconcile.
If you have more than one account in the same bank, please choose the correct bank
account while reconciling.
Step 3: Match and Categorize Downloaded Transactions
If your account is connected to online banking, match and categorize all downloaded
transactions before you start reconciling. Categorizing everything is necessary to get your
final correct beginning balance.
Step 4: Review Any Discrepancy Reports
If any changes have been made that affect your beginning balance, you will receive a
message before starting the reconciliation.
1. To view your discrepancy report, click the ‘We can help you fix it’ link.
2. Have a look at the discrepancy report.
3. Before making any edits, consult with the person who made the changes, as they may
have been intentional.
Once you determine that corrections are needed, review each transaction in the report
individually:
1. To view the transaction’s history of changes, select ‘View.’
2. To see what changed, look over the ‘Change Type’ column.
3. Make edits based on the information in the ‘Change Type’ column.
Hopefully, the above guide will help you understand and resolve banking issues when
reconciling in QuickBooks Desktop. Despite this, if you still face issues with QB banking,
feel free to contact our support team via +1.833.802.0002.