Skip to main content
M
Mtnshore
July 27, 2024
Question

Bank Reconciliation started over

  • July 27, 2024
  • 1 reply
  • 0 views

I had to undo all bank reconiciliations for 3 years. When this was done, the R on each transaction remains. When I went to do the first bank reconciliation that should have a beginning balance of 0. It had a negative beginning balance. I found that the individual transactions still had R on them. When I removed the R, it added to the negative beginning balance amount. There is no beginning balance within this account. Why is the bank reconciliation showing a beginning balance that changes when transactions are unreconciled within the same month being reconciled?

1 reply

M
MelroseV
July 27, 2024

I appreciate your thorough explanation of your reconciliation issue, Mtnshore.

 

Your opening balance keeps changing because someone has edited, deleted, moved, or unreconciled transactions that were already reconciled. These changes impact the ending balance of your last reconciliation, which in turn affects the starting balance for your next reconciliation.

 

Additionally, you can fix your beginning balance by editing it. Let me help you on how to do it.

 

  1. At the left navigation panel, select Transactions.
  2. Click Bank Transactions, then select the bank you want to reconcile.
  3. Select the Go to bank register.
  4. Click your opening balance.
  5. Select Edit to open the form.
  6. Enter the exact amount.
  7. Click Save and close.

 

Should you have additional concerns regarding the reconciliation, please don't hesitate to click the Reply button.

Terms & ConditionsAccessibility statement