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liza-careandcomp
Nov 30, 2023 12:19 PM UTC
Question

Hi, our bank account has never been reconciled in Quickbooks since 2021 - how do I change the start date to this tax year?

When I choose Edit Info, I can only change the end date not the start date?

5 replies

Ashleigh1
Nov 30, 2023 1:40 PM UTC

Hello Liza-careandcomp, you will have to create a journal to change the start date. if you are unsure on how to enter the journal for this we advise you speak to your accountant. 

 


 

 

liza-careandcompAuthor
Dec 8, 2023 11:30 AM UTC

Can anyone offer any advice as to what to post in the journal to amend the start date for the bank reconciliation?  Thanks

 

GeorgiaC
Dec 8, 2023 2:48 PM UTC

Hi @liza-careandcomp, if you're reconciling the account for the first time, the start date and amount should be the balance of your real-life bank account on the day you decided to start tracking transactions in QuickBooks.

 

If you connected your bank account in QuickBooks, this usually automatically downloads transactions and enters the opening balance for you. If this wasn't automatically downloaded and you forgot to enter an opening balance in the past, you can create a journal entry posting to the bank account and the Opening Balance Equity or Retained profit balance forward account. For the full steps on recording an opening balance in QuickBooks Online, click here. Thanks!

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