Question: My bank reconciliation beginning balance does not match the statement. I looked at the last reconciliation; however, and the cleared balance does match? Do you have any tips that I could look into. Thanks.
Answer: This usually happens when you delete or change a transaction that was already reconciled. There are two ways to research what has been changed:
1. Select the Locate Discrepencies button on the Begin Reconciliation, for help determining what was changed.
2. There's also a Reconciliation Discrepancy report in Reports > Banking.
When you determine what has been changed, you will need to re-enter it using the same date.
TIP: You should receive a warning when you try to delete or change a transaction that's already been reconciled. Don't ignore any warning messages…QuickBooks is usually trying to stop you from making a mistake. Instead, take a moment to read the warning message, think about what you are doing and the consequence of the action and then make “the right” decision.