[Pete]

Any idea why the Quickbooks’ cash balance on the balance sheet doesn’t match the ending balance on the bank reconciliation/check register for that period. I compared the balance sheet from last year with the bank reconciliation from 12/31/2016. These two amounts are different despite the fact the bank reconciliation has been done every month? The amounts shown on the home page amounts in quickbooks match, yet the balance sheet doesn’t match the cash register for last yest, despite comparable time periods.

I

B=84 This exam was such a b**** that I thought I failed-don't know how these things work
A=76 Slacker I am, I'll happily take it
R=81 I LOVE taxes
F=80 I don't wanna get banned for an expletive I'm thinking with "yea" proceeding it

[Anonymous]

My clients do this all the time…drives me nuts. First off you need to figure out what period to focus in on. Run the balance sheet for the past few months and compare to the reconciliations. Check 12/31/15 to the preinted rec for 12/31/15 then do Jan, feb, mar. Find the first one that varies. AKA your problem may be a check deleted from the prior year or a deposit that never cleared so someone never deleted it. Finding out when the problem began is a good idea as it may not be an issue from last month.

Also the Audit Tracking report is your friend if tracking is turned on. Run the report for the last few months and check for status items in bold that say deleted or changed. Deleted is definitely a red flag and those are good items to look into.

Also once you find your month that the issue is in, compare the items on the bank rec detail that was done to what is actually still in the register. Look for variances. What version are you using? Premier will allow you more flexibility with bank rec reporting in that you can see prior ones and see how changes have affected it. Pro and Accountant do not have the functionality.

[Pete]

This is the pro version of quick books.

The 2015 balance sheet doesn't match the bank reconciliation (cash) either.

B=84 This exam was such a b**** that I thought I failed-don't know how these things work
A=76 Slacker I am, I'll happily take it
R=81 I LOVE taxes
F=80 I don't wanna get banned for an expletive I'm thinking with "yea" proceeding it

[Anonymous]

What type of client? Cash or accrual basis. You could always export a TB at 12/31/15 to excel and then create an adjusting journal entry which calculates the variances from the tax return on the balance sheet accounts. Take any net variance and post to retained earnings. Then your retained earnings should tie to the 2015 tax return. On your next reconciliation you can clear the journal entry that adjusts cash and April would be correct to date.

[Anonymous]

If 2015 doesn't tie then your problem starts in 2015 not 2016 or 2017 which means your retained earnings would not tie to the prior year financials. AJE is your best bet to solve the problem at 1/1/17.

[livealittle]

@ blitz1030 QB Accountant has the ability to view all historical bank recs with the options of “as they were printed when reconciled” or “include all changes since reconciliation”. Pro does not have the ability to reprint any bank rec except the most recent.

@GitRDone2017 a TB that doesn't balance in QB? not that unusual if you have data corruption in the file. I've seen it many times.

If clients have inventory turned on and let inventory items go negative, it will eventually cause data corruption, having duplicate list entries can cause it, having memorized journal entries with an AR or AP account in the first line can cause it.

BEC - 8/8/16
REG - 66, 77
AUD - 81
FAR - 9/8/16

[Anonymous]

My bad on the accountant version. I was merely saying he might not be able to run new adjusted reconciliations if he didn't have a specific version. He has pro so he can't.

He isn't saying the trial balance isn't balancing. He is saying that the reconciliation register balance that was done previously doesn't tie to the currently run TB. That occurs when someone alters an already reconciled item. Rebuilding a file won't correct this. It isn't going to magically tie to the prior year after something has been altered. Balance debits and credits sure, but it won't fix this problem.

[Author]

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