Reconciliation Discrepancies
Reconciliation Discrepancies - what are they and why do they show up in my Trial Balance Profit & Loss Statements? Is there a way to correct this issue?
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djhwhM0O8r4iYiacwZ5xHE
08/29/11 4:00pm PDT
Viewed by asker 08/30/11 2:30am PDT
Viewed by asker 08/30/11 2:30am PDT
7 Replies
dhhcpa
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08/29/11 4:04pm PDT
Reconciliation discrepancies show up when a bank rec or credit card rec is forced, instead of locating the cause of the discrepancy. They have to post somewhere, so someone set it up to post to that account.
If you zoom in on the account, you may find an amount in a specific month that is identical to a negative amount in another month. Forcing bank recs usually comes back to haunt you.
Ohhhh, Faerie Dust!!
08/29/11 7:56pm PDT
How long have you been working with this file? Do you need additional assistance?
You can "undo prior reconciliations" to get back to a good rec, and then go forward, deleteing the reconciliation descrepancies, if that makes it easier for you.
08/29/11 8:29pm PDT
I have "undone prior reconciliations" - but how do I delete the reconciliation discrepancies?
08/29/11 9:02pm PDT
Back up first! Go to your profit and loss (reports>company and financial>profit and loss standard>select your dates
Then double click on reconciliation discrepancies in the report.
when you find one that posts to the bank account, double click on it, right click and select delete.
Please be aware that your opening balance may be wrong even after you delete the reconciliation discrepancies.
01/05/12 7:02pm PST
Thanks for the reminder to Backup!
>>Please be aware that your opening balance may be wrong even after you delete the reconciliation discrepancies.
So then what happens??
thank you!
01/05/12 7:11pm PST
Latest post
Sarah, please describe your specific issue. Since you have posted to another person's question, not everything discussed previosly may be appliable to you. It may also be better to post a separate question.
