QuickBooks Reconcile Discrepancy and Beginning Balance Wrong

How to fix it

Try these in order — the most common fix is first.

1. 1. Match downloaded transactions first

   1. Match and categorize all bank-feed transactions before reconciling.
   Did this fix it? Yes No

2. 2. Open the Discrepancy Report

   Copy steps
   1. When the alert appears, select We can help you fix it.
   2. Review transactions marked R after your last reconciliation and change them back to uncleared if needed.
   Did this fix it? Yes No

3. 3. Correct the opening balance (first reconciliation)

   Copy steps
   1. Compare the balance on the opening-balance date with your bank records.
   2. Edit the opening balance entry so it matches, until Total Discrepancy Difference is 0.00, then select Resume reconciling.
   Did this fix it? Yes No

4. 4. Ask your accountant

   1. For old files with many edits, an accountant can use audit log and reports to find the change.
   Did this fix it? Yes No

Symptoms

Beginning balance differs from your statement, or a discrepancy alert appears.

Why it happens

• Wrong opening balance when the account was created
• Older transactions added without correcting the opening balance
• Reconciled transactions edited or deleted
• Manually cleared transactions

This guide also covers

• quickbooks reconcile discrepancy
• quickbooks beginning balance doesn't match
• quickbooks reconciliation difference

Other QuickBooks errors

• QuickBooks Bank Feed Not Updating
• QuickBooks Bank Error 102 and 105
• QuickBooks Bank Error 103, 109 and 187 (Login Failed)
• QuickBooks Bank Error 323
• QuickBooks Duplicate Bank Transactions
• QuickBooks Online Not Loading or Slow
• QuickBooks Verification Code Not Received
• QuickBooks Payroll Error PS038, PS077 and PS032