I have a £0.01 difference between my bank balance in Quickbooks and the bank feed value. Presumably this is a rounding issue, how do I write it off please?

You can write off the £0.01 discrepancy using the QuickBooks Finish now adjustment during the reconciliation process. This method automatically posts the amount to the Reconciliation Discrepancies account, ensuring that no previously reconciled transactions are affected.

Here's how:

1. Go to Accounting, select Reconcile, choose your bank Account, enter the Ending balance (£17,692.86) and Ending date, then select Start reconciling.
2. On the reconciliation screen, you'll see a list of transactions. Check the box next to each transaction that also appears on your actual bank statement.
3. The remaining Difference will show as £0.01. Select the dropdown arrow next to Save for later, then choose Finish now.
4. A pop-up titled Hold on! Your difference isn't £0.00 yet will appear. This is expected for a small leftover amount like £0.01.
5. Confirm the Adjustment date shown, then select Add adjustment and finish.

QuickBooks will confirm that the account is reconciled. You can review the adjustment later in the reconciliation report.

Avoid editing or deleting any already reconciled transactions to force a match, as this can lead to larger issues in the future.

If you have any additional questions, feel free to leave a comment below.