If a reconciliation difference occurs, how should you handle it?

• A. Delete the reconciliation and start over.
• B. Identify the source of the difference, adjust the opening balance or post a correcting entry, then re-run reconciliation for the period.
• C. Export the reconciliation results to CSV and review later.
• D. Reconcile only bank transactions.

Answer: (B)

When a reconciliation difference occurs, the right move is to identify the source of the discrepancy and fix it before reconciling again. Look for missing, duplicate, or misposted transactions and for timing differences such as deposits in transit or outstanding checks. Once you find the cause, correct it by adjusting the opening balance or posting a correcting entry so the QuickBooks balance reflects the true starting point and the period’s ending balance matches the bank statement. After making the adjustment, re-run the reconciliation for that period to confirm everything lines up. Deleting the reconciliation or exporting results won’t fix the underlying issue, and reconciling only bank transactions won’t address other items that caused the difference.