How to resolve discrepancy between my records and bank statement

jsampson45

I reconcile my records with my bank statement monthly. I use Banktree to keep the records. This month it shows a discrepancy which does not correspond with any transaction. The number and amounts of transactions this month are the same for my records as for the bank statement. Is there any algorithm for investigating such a discrepancy? There was no discrepancy last month. I can imagine that if there is no transaction equal to the discrepancy there may be two or more that add up to it, perhaps ascribed to the wrong account or something like that. I don't know what the possible causes are.

eskbanker

jsampson45 said:

The number and amounts of transactions this month are the same for my records as for the bank statement.

If there's agreement on the total transaction value for the month, you're presumably suggesting that only the closing balance differs?  If both versions of the opening balance agreed then it should be straightforward to identify whether it's your version or the bank's version of the closing balance is wrong, after which you can inspect the details manually to find the root cause - does your bank statement show a running balance after each transaction?

Thrugelmir

jsampson45 said:

Is there any algorithm for investigating such a discrepancy? 

How many transactions do you need to manually check? 

LobsterMemory

If the difference is divisible by 9 check that you haven't got some numbers the wrong way round which may provide a shortcut
Otherwise it's line by line

jsampson45

I have checked the running balances in both my version and the bank's version of last month, using a pocket calculator, and they are all correct. I am assuming that if the reconciliation last month was correct then the opening balances were the same. Is that a reasonable assumption? I have checked and rechecked the 49 transactions for last month and they are correct. I have to assume that the issue lies elsewhere. I have not been able to find a transaction in the last few years in any account equal to the discrepancy. The discrepancy is not divisible by 9, but thanks for the suggestion.