QUICKBOOKS:

As youre reviewing a clients Profit and Loss accounts, you find an account called Reconciliation Discrepancies account. This account has a balance of $1,250.

What does this signify?

• The client undid a reconciliation, then redid it

• The client forced a reconciliation by adding an adjustment

• In Bank feeds, QuickBooks Online posted the difference between the amount of a transaction and the amount that cleared the bank to this account