QuickBooks Online: Fixing Reconciliation Discrepancies

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  • Опубліковано 22 жов 2024

КОМЕНТАРІ • 142

  • @HectorGarciaCPA
    @HectorGarciaCPA  3 роки тому

    QuickBooks Online 30-day free trial + 30% off link: quickbooks.intuit.com/partners/irp/?cid=irp-4337#pricing

    • @HarmonyandHope7
      @HarmonyandHope7 2 роки тому

      Hi, in Bank Register, I have multiple deposits listed as Split with different dates from last year. It’s automatically clicked and the option to clear them in bulk is not available. So I click on the company name for the transaction it opens Receive payment and then when I click on Clear payment and save & close it says somethings not right

    • @HarmonyandHope7
      @HarmonyandHope7 2 роки тому

      Also how do I fix undeposited funds, I have a lot of transactions stored there and it shouldnt be

    • @redvelvetreveluvbaby1524
      @redvelvetreveluvbaby1524 2 роки тому

      Hi Sir, can i ask for your assistance in QB as a newbie?

    • @HectorGarciaCPA
      @HectorGarciaCPA  2 роки тому

      @@redvelvetreveluvbaby1524 if i can answer your questions posted here, I will

    • @Nelly-he6hp
      @Nelly-he6hp 2 роки тому

      Good afternoon Hector I have a question. I’m about to reconcile my bank statement, the beginning balance in my account matches my statement but as I went to reconcile its showing a difference. How do I correct this?

  • @heradio1000
    @heradio1000 7 місяців тому

    Hector, your videos are very well made, exactly to the point, and have been of immense help for me since I am an end-user (DIY) of QBO and had a royal mess in my reconciliations. Thank you so much.

  • @KarenWilliams-s2p
    @KarenWilliams-s2p Рік тому +1

    WOW! Thank you SO MUCH for your video! This is exactly what I needed to help me fix a major mess-up on reconciling with deleted transactions. Your explanation was so clear.

  • @howtobuypackaging
    @howtobuypackaging Рік тому +5

    I think you're the only one who actually addresses this for the QB online - other vids were outdated! Thank you!

  • @JocelynRaschk
    @JocelynRaschk Рік тому

    This guy is so helpful, not only showing how to fix it, but also showing how you can avoid making the same mistakes by showing what not to do :)

  • @samanthalegassick7965
    @samanthalegassick7965 2 роки тому +2

    This was SO HELPFUL! I have never been able to figure out what on earth to do with deleted transactions, such a game changer. Thank you so much!

  • @staceycontreras4504
    @staceycontreras4504 3 роки тому +4

    You're funny, Hector! And you make learning QBOA fun!

  • @allisonkirchhofercpa3060
    @allisonkirchhofercpa3060 2 роки тому +3

    What about "Reconciled in Register" change type? Thank you!

  • @jorgefraga5045
    @jorgefraga5045 2 роки тому +2

    This is a great video Hector as always.

  • @gleidismazo9250
    @gleidismazo9250 9 місяців тому

    Thank You Hector!!! Awesome video. I have been learning a lot from you😊

  • @megumi012
    @megumi012 Рік тому +2

    I accidentally deleted the transaction from a year ago, since that transaction was already reconciled what I could possibly do to fix that discrepancy? should I undo all reconciliations until the transaction date that has been deleted?

    • @HectorGarciaCPA
      @HectorGarciaCPA  8 місяців тому

      You need to re-add it, and re-reconcile
      The latest period with that one transaction

  • @irena4594
    @irena4594 8 днів тому

    Hello Hector!
    Thank you for such informative videos!
    I have a discrepancy in bank reconciliation that goes back to June. One of the transactions was deleted (it was duplicate) after account was reconciled. Now the books balance is lower by that amount and bank balance is higher by that same amount. I'm not sure if it is appropriate to recreate the transaction in this situation (would this bring the expense total up?). Really confused with this. I would appreciate your advice! Thank you!

  • @joanneenriquez1767
    @joanneenriquez1767 2 роки тому +2

    Hi Hector, how to fixed reconciliation discrepancy appeared as "Reconciled in Register"? I do a batch reclassed category of account, that I also included those that are reconciled. Now I messed up because it is appeared in the recon discrepancy report. Appreciate your help on this. Thank you!

  • @thels6049
    @thels6049 4 місяці тому

    THANK YOU first video I came across that helped with a deleted transaction!

  • @jesusvalencia4139
    @jesusvalencia4139 Рік тому

    how about duplicated deposits? how do you fix does! I already try the Journal entry but that didn't work.

  • @triunfa_conamanfi
    @triunfa_conamanfi 9 місяців тому

    Thank you so much for all the information. You are awesome! God bless you! Eres el mejor explicando :)

  • @janeh5949
    @janeh5949 Рік тому

    does "Amount" column mean what is currently in the register--so probably the wrong amount.?

  • @EvelynTavernier
    @EvelynTavernier 2 роки тому

    Would love a video on repairing the QuickBooks Screen turning black issue where the boxes turn black or fully white making it unable to make a selection.

  • @Stvv875
    @Stvv875 2 роки тому +1

    when i recreate a deleted transaction, i can not see that in the register, i am able to find it from audit log, but when i check the register, its not there, any idea what i may be doing wrong? thank you

    • @HectorGarciaCPA
      @HectorGarciaCPA  2 роки тому +1

      Audit log only… wont be in the register because if was deleted

  • @michaelodetomi5501
    @michaelodetomi5501 9 місяців тому

    This is super helpful, Thank you

  • @CrystalNouveauC
    @CrystalNouveauC Рік тому

    The main reconciliation discrepancy I'm having is with paypal Bank deposits and transfers showing up twice on my QB bank statement. Would you know why that is?

  • @khawajadanishaltaf1847
    @khawajadanishaltaf1847 2 роки тому

    Thank you so much Hector for your videos.
    1. I have some transactions that show up in the bank register but not in Categorized tab in banking.
    2. I also have some transactions that show up in Categorized tab but not in bank register.
    Have you ever come across anything like this. Please advise.

  • @dulcegarcia2113
    @dulcegarcia2113 2 роки тому +1

    You're the BEST!!! THANK YOU!!

  • @LissettePuente-f6v
    @LissettePuente-f6v 7 місяців тому

    Thank you so much for this video. You are the best!😊

  • @Kingroyaltymedia
    @Kingroyaltymedia 2 місяці тому

    Now what do you do if QBO reconciliation discrepancies report gives you this?
    There are no transactions showing for this account in this time period. If you're filtering transactions, they may be hiding.
    How do you solve it then?

    • @HectorGarciaCPA
      @HectorGarciaCPA  2 місяці тому

      @@Kingroyaltymedia you will need to go back and undo reconciliations until you are at an accurate balance

  • @maseygunner
    @maseygunner Рік тому

    I have some issues and wanted your advice. Trying to learn all I can from your videos, but running into some issues. 1. we have an old bank account not been in use since 2017 however when we look at the report the account balance keeps going up in number and I do not know how to get rid of it. when tax time comes it looks like we have a profit when we do not.
    2. Bank balance that shows in QuickBooks IS NOT THE BALANCE THAT WE ACTUALLY HAVE IN THE ACCOUNT?
    3. DO you have a video on what to look for if you have matched your bank statement to the reconcile page but the balance is off but everything matches up. What else can I look for that may be wrong.

    • @HectorGarciaCPA
      @HectorGarciaCPA  Рік тому

      Outstanding transactions such as uncashed checks should be the only things that male that difference off.
      Anything else needs to be adjusted and cleaned up either through deleting (current tax year stuff) or journal entry (previous tax year)

  • @ahsanbaig3994
    @ahsanbaig3994 2 роки тому +1

    HI, Hector or any one Please help Actually I Reconciled up to Dec-2021 but a expense of July-21 has been Deleted by me so Know when I try to fix it What month for ending Balance I should Select Dec or Jully-21

  • @matthewnovik5892
    @matthewnovik5892 9 місяців тому

    Great but how do non accountants UNDO a reconciliation? Thanks

  • @audreannacastaneda2380
    @audreannacastaneda2380 5 місяців тому

    How about when an online transfer is coming from wrong account? Change the account under edit?

  • @marichrisbanal1104
    @marichrisbanal1104 5 місяців тому

    Hi, what to do if the bank recon is okay but the balance sheet balance is not the same as the bank statement? Thanks

    • @HectorGarciaCPA
      @HectorGarciaCPA  5 місяців тому

      There might be transactions that have not been reconciled that are affecting the balance

  • @msamyo944
    @msamyo944 5 місяців тому

    So my beginning bank balance is off by -$26.22 therefore when i go to reconcile my beginning balance is incorrect. I have looked everywhere to find the discrepancy, I have spoken to my accountant and was informed I can write it off. How do I do that.

    • @HectorGarciaCPA
      @HectorGarciaCPA  5 місяців тому

      Make a journal entry for the amount, you can use Bank Service Fees or something like that to write it off

  • @edgarjmoralesjr
    @edgarjmoralesjr Рік тому

    Thank you so much. You really help me a lot. 😀

  • @Jenniferfvbb
    @Jenniferfvbb 2 роки тому

    how do you contact us if we have a big problem in reconciling issues and need help?

  • @nicoledossous9500
    @nicoledossous9500 2 роки тому

    Extremely helpful! Thank you!!!

  • @robertbaysic1320
    @robertbaysic1320 2 роки тому

    My QuickBooks didn't extract bcoz of files saying that " invalid character in the given encoding line. How can I fixed this problem please help me

  • @IncrediPaulAZ
    @IncrediPaulAZ 3 роки тому +1

    You forgot duplicate entries. I've even had duplicate entries created when a bank changes it's process and QuickBooks recognizes a transaction a new transaction. Granted that one's generally easy to fix because you just delete or exclude the duplicates. Still it can cause lots of problems from what I've experienced.

    • @HectorGarciaCPA
      @HectorGarciaCPA  3 роки тому

      duplicate entries will not mess up your reconciliation. I cover handling duplicates in my banking course

  • @chrissymoltimer3554
    @chrissymoltimer3554 7 місяців тому

    Hey Hector for my reconciliation discrepancy report 3 transaction where delete but when I look at my bank register those 3 transactions are still there do have to still recreate those 3 transactions and then reconcile or just reconcile with the right beginning balance since the 3 transactions are still in my bank register

    • @HectorGarciaCPA
      @HectorGarciaCPA  7 місяців тому

      If they are deleted, you have to recreate them to reconcile

  • @rosiehurtado5627
    @rosiehurtado5627 Рік тому

    Hi Hector, have I need to delete a transaction that was entered as a transfer instead of expense in 2022(have not filed taxes yet) and this online version will not let me edit transaction type in any way) which is throwing off my balance sheet. If I deleted these from bank register and re enter them the correct way, you say I have to reconcile again, will it be contained to that months reconciliation in 2022?

    • @HectorGarciaCPA
      @HectorGarciaCPA  Рік тому

      Maybe.. is not 100% clear without looking at them, as i dont know how these transactions were entered

  • @details_matter_construction

    What if I want to change the description category of a reconciled item? to make my reports more detailed. will that screw up my reconciliation?

  • @allistoninteriorsltd5097
    @allistoninteriorsltd5097 2 роки тому

    Im trying to fix a deleted reconciled transaction that was previously under the wrong subscontractor, can I recreate the expense and list it under the appropriate subcontractor and keep the same dollar amount? Will it correct my reconciliation or it has to be the exact thing I deleted?

  • @mystuff9098
    @mystuff9098 Рік тому

    What if there are no transactions on help to fix discrepancy. Credit card open balance is off.

    • @HectorGarciaCPA
      @HectorGarciaCPA  Рік тому

      You need to manually unreconcile all the transactions

  • @jeimyhernandezsandoval3274
    @jeimyhernandezsandoval3274 2 роки тому

    Hi Hector, I’m doing the reconciliation I have a different amount in a check but Quickbooks already sent the W2, what can I do, I’m able to change it?

  • @BoonDoggleBliss
    @BoonDoggleBliss 7 місяців тому

    What if you fix your reconciliation but your Balance Sheet is off?

    • @HectorGarciaCPA
      @HectorGarciaCPA  7 місяців тому

      Thats a loaded question its hard to answer

  • @CecilleTabuena_godissogood
    @CecilleTabuena_godissogood 2 роки тому

    Hello Hector. May I ask what to do with Deleted transaction which still appears at the top of the Reconciliation Report? I happened to unmatched the transaction since it was erroneously recorded as Transfer instead of Expense and matched it again the correct way. Then, I deleted this "Transfer Transaction" which was left unreconciled. I was able to reconcile the whole transaction though, there was this "Reconciliation Change Report" at the top of it. Can I apply the technique you showed here just to be able to remove it from the final report? Btw, Thank you so much! This video helps and I learned a lot! #NewSubscriberHere

    • @HectorGarciaCPA
      @HectorGarciaCPA  2 роки тому +2

      Have to recreate them and reconcile then

    • @CecilleTabuena_godissogood
      @CecilleTabuena_godissogood 2 роки тому +1

      @@HectorGarciaCPA Thank you so much! I will do it the way you showed it here. 👍😊 Have a great day always and God Bless you more! 🙏☝😇

  • @Francellahernz
    @Francellahernz Рік тому

    How do I fix it when I deleted a transaction in purpose because it was a duplicate and was not in the bank statement. So I can't adde it again, I need it to remain deleted?

  • @62floripondia
    @62floripondia 2 роки тому

    I have three deposits on my bank statement but they're not in QB, how do I add them?

  • @debbiewells7603
    @debbiewells7603 2 роки тому

    Hector, I have payment/deposits going into as a deposit and an expense because I think they are being categorized wrong, how do I fix that?

    • @HectorGarciaCPA
      @HectorGarciaCPA  2 роки тому

      Go back to each one and fix it

    • @debbiewells7603
      @debbiewells7603 2 роки тому +1

      @@HectorGarciaCPA even after it's been reconciled?

    • @HectorGarciaCPA
      @HectorGarciaCPA  2 роки тому

      @@debbiewells7603 as long as you dont delete, change dollar amounts, or bank account of a non-reconciled transaction…

  • @bellaiba2009
    @bellaiba2009 2 роки тому

    I would like to know how to fix bank deposits through the bank because some of my check deposits are not matching and its doubleling the money in my account and same with Zelle payments ?

    • @HectorGarciaCPA
      @HectorGarciaCPA  2 роки тому

      Its hard to answer via a YT comment without properly diagnosing it, sorry

    • @bellaiba2009
      @bellaiba2009 2 роки тому

      @@HectorGarciaCPA how can I contact you because I really need to get this fixed before tax season.

  • @77Tadams
    @77Tadams 2 роки тому

    Wow. I have had so so many problems with this! I feel like banging my head into a wall. I use a bookkeeper when I can’t get them to reconcile! She is making a lot of money off me! This is one weak point with my learning curve. I just started QuickBooks online a year and a half ago. Never knew what reconciling is. Of course a bookkeeper isn’t going to tell you how to do it…😮😮😮😮😮

    • @HectorGarciaCPA
      @HectorGarciaCPA  2 роки тому +2

      For the same reasons that Doctors don’t teach you how to do your own surgeries. We tend to believe that what we (bookkeepers) do is what makes us special

    • @77Tadams
      @77Tadams 2 роки тому

      @@HectorGarciaCPA oh I am not upset at her at all! It makes me want to learn more! The way you flip through it and make it seem easy is years of learning! And she should make money off me! For the reason that she has been doing it for years! Much respect! Your videos are awesome. You are an excellent teacher. I will be watching this particular one a dozen more times. This made me feel less stupid for sure! Like I too can get this!

    • @HectorGarciaCPA
      @HectorGarciaCPA  2 роки тому

      @@77Tadams :)

  • @ShaymaBellydance
    @ShaymaBellydance 5 місяців тому

    Is there a way to reset the reconciliation. I have deleted transactions that were reconciled but I dont wanna bring them back. Can I Clean and start over the reconciliation? I reconciled but then I found your video about credit cards and decided to do it correct into the undeposited funds. Then I deleted and upload again the bank statement and now I think I have everything by duplicate and it doesn't allow me to reconcile.

    • @HectorGarciaCPA
      @HectorGarciaCPA  5 місяців тому

      You need to UNDO it… there is no “reset”

    • @ShaymaBellydance
      @ShaymaBellydance 5 місяців тому

      @@HectorGarciaCPA thank u hector. Your content is a gem! I wish I had watched all of them before I do stuff. But I actually come back here to solve my problems :(

    • @ShaymaBellydance
      @ShaymaBellydance 5 місяців тому

      The problem is I upload the bank statement to reconcile first time and then reconciled. Then I added a second time, I categorized everything better and I realized transactions were duplicated I deleted both of those transactions (the reconciled one and the not reconciled one) and I added the statement a third time. I though that it will kind of reset itself. I tried to reconcile and it went nuts :)

  • @rumblersgear3369
    @rumblersgear3369 2 роки тому

    I was reconciling today bank A. Everything went fine- noticed a lot of transfers in and out to bank B. Got to bank B and reconciled, but during reconciliation decided to open up all the duplicate transactions between A and B and put zeros on them. Got done reconciling bank B and bank A had a major discrepancy errors. (everything I put zeros on, I had to put the amounts back on it). So bank A is now normal and bank B is off by the amount I fixed. I'm literally just ping ponging the errors back and forth. If I go into bank B discrepancy report and put zeros there , it sends the problem straight back to bank A. At this point, I want to rip my hair out.

    • @HectorGarciaCPA
      @HectorGarciaCPA  2 роки тому

      You need a pro to help you organize and clean it up, so you can know how to do it right moving forward

    • @maseygunner
      @maseygunner Рік тому

      @@HectorGarciaCPA How do you go about finding a pro to clean up. I hired a CPA who charged us almost 2 grand and made a mess out of it.

    • @HectorGarciaCPA
      @HectorGarciaCPA  Рік тому

      @@maseygunner we are experts that that 954-414-1524, Schedule a diagnosis call.

  • @valarieyarbrough2264
    @valarieyarbrough2264 Рік тому

    If I reconciled a month and closed it but I need to add another transaction to that month to balance to what my bank statement is can I do that?

    • @janeh5949
      @janeh5949 Рік тому

      you can "unreconcile" in QBO. Add your transaction, then re-reconcile

  • @janeh5949
    @janeh5949 3 роки тому

    please help... My lawyer client wants to invoice his customer and on that invoice, somehow put/include that a vendor bill was paid in relation to this customer matter. How would his customer see that we had to pay a vendor cost associated with the matter? thanks for any help.

    • @HectorGarciaCPA
      @HectorGarciaCPA  3 роки тому

      You would need to make the expense “billable” and then include it in an invoice

    • @janeh5949
      @janeh5949 3 роки тому

      @@HectorGarciaCPA thanks Hector!!

  • @nolabannerton5747
    @nolabannerton5747 Рік тому

    I keep getting the we can help you fix it message! I have gone into the disc report and then into COA and manually changed the amount then the R and finally voided the trans and nothing!! HELP! Lol. One 95.00 trans x 4 = 380.00 disc amount so its linked to that somehow.

  • @adityabajaj14
    @adityabajaj14 6 місяців тому

    "End user find a way to screw things up" (despite so many warnings)... That's me and that's why I am here. 😁

  • @carmenmarrero6107
    @carmenmarrero6107 6 місяців тому

    Ay i had to undo a reconcile but now it changed the beginning balance, ayudame.

    • @HectorGarciaCPA
      @HectorGarciaCPA  6 місяців тому

      You need to force reconcile the ending of the last reported period like 12/31/2022 to make sure it matches so you have a starting point

  • @829debbi
    @829debbi 2 роки тому

    I mistakenly recategorized a review item after I reconciled a checking account; reconciliation report shows it being deleted by the register shows it's still there but with a "C" now instead of the "R". How do I fix this?

    • @HectorGarciaCPA
      @HectorGarciaCPA  2 роки тому +1

      You have to go to Reconcile and reconcile the transaction in there

    • @829debbi
      @829debbi 2 роки тому

      Hector, thank you for your help. Your videos are well-done, easy to follow and a phenomenal resource for me. Best regards, Debbi

    • @Shalom2479
      @Shalom2479 Рік тому

      How do you reconcile if there was a few deletions?

  • @wendymahon9242
    @wendymahon9242 6 місяців тому

    how do you fix duplicate bills

  • @Avital4414
    @Avital4414 3 роки тому +2

    The biggest problem I have is with the beginning balance being wrong.

    • @HectorGarciaCPA
      @HectorGarciaCPA  3 роки тому +3

      Yeap, you might need to undo the reconciliations

    • @ahefner33
      @ahefner33 3 роки тому +2

      Same here!

    • @ahefner33
      @ahefner33 3 роки тому +1

      @@HectorGarciaCPA How would someone do this? Without hiring a CPA. We know the problem but we can't changed the beginning balance.

    • @Avital4414
      @Avital4414 3 роки тому +1

      @@ahefner33 you can enter a journal entry to deal with the problem if there’s no other alternative

    • @HectorGarciaCPA
      @HectorGarciaCPA  3 роки тому +1

      @@ahefner33 an accountant (or someone with accounting access) needs to undo the reconciliation

  • @iobtax
    @iobtax 2 роки тому

    Thats hillarious, end users find a way to screw things up. Oh yeah, did you not see the warning? Oh that is what that was.

  • @jamesflynn3336
    @jamesflynn3336 3 роки тому

    Sign

  • @jamesflynn3336
    @jamesflynn3336 3 роки тому

    of

  • @yang-pe1kj
    @yang-pe1kj 2 роки тому

    The video is unclear

  • @kenneth6847
    @kenneth6847 2 роки тому

    Too fast

  • @TheSendakite
    @TheSendakite 3 місяці тому

    lol

  • @mruiz4588
    @mruiz4588 2 роки тому

  • @frankelima4648
    @frankelima4648 8 місяців тому

    how do you subtract the processing fee out of the deposited amount? I know there is a way to go in and deduct the fee from the amount but I can not remember

    • @HectorGarciaCPA
      @HectorGarciaCPA  8 місяців тому

      In the deposit screen, all the way at the bottom you can add it as a negative amount