How to fix a reconciliation error.

In trying to reconcile a recent credit card statement we're showing a $45 difference. The beginning and ending balance was entered correctly. We pulled up the Audit Trail and think we found the transaction causing the issue. We accidentally entered a CC charge in the wrong account and deleted or changed it form one CC to another CC. Now we're stuck on how to reconcile. It appears this transaction goes back six months ago. Is the only option to un-rconcile each statement going back six month the the previous year? Is there an easier way?

Answer

Here is one Strategy:

Divide your difference by 9. You have no remainder = a Transposition error. Example:

Something for 1283 got entered as 1238.

"We accidentally entered a CC charge in the wrong account and deleted or changed it form one CC to another CC."

Discrepancy does not mean Error; it means Changed. That is not a problem unless you also Checkmarked it, which would be an error. And even if you had, you would be able to rereconcile to reconcile now, because the Beginning Balance (which is the Net of all previously cleared transactions) would be different and you would Ignore it, because you know why you affected it.


I recommend looking for the Transposition error, as this is most likely.


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