Fixing a QuickBooks Reconciliation Discrepancy 📊
Birchstone AdvisoryTroubleshooting a reconciliation discrepancy in QuickBooks Online by investigating the audit log. Learn how to identify and fix a deleted transaction that caused an out-of-balance beginning balance.
Chapters
00:00
Starting Reconciliation
Initiating the bank reconciliation process for a new client's books.
00:26
Identifying the Discrepancy
Pinpointing the exact difference between the bank statement and QBO.
02:07
Investigating Audit Logs
Using the audit log to investigate why the account is out of balance.
03:12
Locating Deleted Transaction
Discovering a deleted check that caused the reconciliation issue.
03:56
Resolving the Issue
Steps to re-enter the missing check and fix the reconciliation.
Transcript
00:00
Okay, so I'm inside of my portal here and I'm going to do some reconciliation.
00:06
So I'm going to go ahead and launch the, launch the tool and let me go to refresh this.
00:17
Go.
00:19
We're ready to go.
00:20
So let's see what we got.
00:22
all right, I'm just going to speak to it.
00:26
So I just took over a new client's books.
00:29
they're called Summit Property Group and I'm trying to reconcile their January statement, but something feels way off.
00:37
The difference is 2,847 and 50 cents.
00:45
Okay.
01:06
Very specific number.
01:08
Let's see.
01:09
Quick check.
01:10
Beginning balance.
01:12
let's check and see.
01:15
actually no.
01:18
the beginning balance in QBO says 14,322 and 16 cents.
01:24
But the December statement ending balance was 11,474 and 66 cents.
01:30
So it's off by exactly 2,847 and 50 cents.
01:35
So that's my whole discrepancy right there isn't.
02:02
log, gear icon, audit log for the R.
02:12
It was reconciled.
02:15
Okay, if it was deleted, need to re enter it.
02:19
Okay, let me see.
02:25
Okay.
02:29
Wow.
02:29
Okay.
02:29
yeah, I have no idea what happened.
02:31
I just got access to this file.
02:33
Last week, the previous bookkeeper, they left kind of suddenly.
02:36
So, I guess.
02:38
Where do I even start on this?
03:02
Something was reconciled in December was deleted.
03:04
Okay, yeah, I get that.
03:05
wait, hold on a sec.
03:10
okay.
03:12
I found something in the audit log.
03:14
It looks like a check for 2,847 50 was deleted on December 28th and that was after the November reconciliation was done.
03:25
So it was already reconciled.
03:27
Is that what caused this?
03:29
good.
03:50
Check never happened.
03:51
Yeah, put it back in.
03:56
Okay, got original date, got a chart of accounts.
04:00
Open the register and reconcile.
04:04
Okay.
04:05
All right.
04:07
well, yeah, this feels like a mess.
04:09
So should I try to fix this myself or should I bring in a CPA or what do you think?
04:45
Create a new check 247 then manually mark it as reconciled.
04:50
Okay.
04:52
All right, thank you.
Comments
No comments yet