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L
LRS
April 14, 2020
Question

How do I fix an incorrect ending balance on a finished reconciliation in QBO Plus? Previous accountant didn't understand reconciliation basics.

  • April 14, 2020
  • 1 reply
  • 0 views
This client does not have QBO Accountant, so I can't undo the rec. Previous accountant reconciled to an incorrect ending balance (I'm not really sure where she got that number, but it's not on any bank statement). I can only find how to fix incorrect beginning balances or restore a previously correct rec.

    1 reply

    MJoy_D
    MJoy_D
    April 14, 2020

    Thank you for posting, @LRS. 

     

    Here are some of the causes why you’d encounter ending balance discrepancies:

    • An incorrect ending balance at the start of the reconciliation.
    • Missing or duplicate transactions in QuickBooks.
    • Someone entered transactions into QuickBooks that hasn't cleared your bank yet.
    • Duplicate transactions.

    To fix this ending balance, you’ll have to undo that entire reconciliation using a QuickBooks Online Accountant (QBOA) account. Once done, you’ll have to reconcile your statements once again. 

     

    See this article for more information: Undo your client’s reconciliations with QuickBooks Online Accountant.

     

    However, if you don’t see a QBOA user, what you can do is fix the opening balance on the current reconciliation. See this article for detailed guidance: Fix beginning balance issues during your first reconciliation in QuickBooks Online. 

     

    Check this guide on how to reconcile the accounts properly: Learn the reconcile workflow in QuickBooks. 

     

    Let me know if there's anything that I can assist in reconciling your account. I'm always here to assist. 

    L
    LRSAuthor
    April 14, 2020

    Thanks for your reply, but I've already reviewed the beginning balance issue articles you linked and they don't have info for my situation. Are you saying that I can begin the next reconciliation and just adjust that beginning balance after starting it? That doesn't sound correct, and I don't want to initiate yet another incorrect reconciliation. 

    Again, I don't have a QBOA type account with this client; only QBO Plus. Anyone else have any experience with this?

    Rubielyn_J
    Rubielyn_J
    April 14, 2020

    Thank you for getting back here, @LRS.

     

    Let me provide additional information to what my colleague had given. You can open your account history to help you identify if there were modified or deleted transactions.

    Here's how:

    1. Click the Accounting tab at the left navigation pane.
    2. Choose Reconcile.
    3. At the right corner, select History by account.

    Once identified, you can change the reconciliation status to R. 

     

    You can check out this article if you fix issues when reconciling: Fix issues when you're reconciling accounts in QuickBooks Online.

     

    Please don't hesitate to reach out to me here should you need any additional assistance. The Community seeks to serve you.

     

    Take care and keep safe!

     

     

     

     

     

     

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