Expert: Arthur Naman - 2/2/2010

Question
Quickbooks Pro 2007
I want to balance my Quickbooks account with my Bank.
Sounds easy but, I have a difference of $80 over this last year.
I've researched my account but, cannot find the difference.
What kind of entry should I make to adjust for this?
Thank you!

Answer
Make up an entry to account for the difference.

There should be either a debit or credit to your bank account in quickbooks. The offsetting entry can be to a miscellaneous income or expense account.

This will allow your quickbooks to remain in balance, but you can then "clear" the entry to cause quickbooks to balance to the bank.

If this is not clear, ask a followup. There are instances where the entry may not be so simple