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April 28, 2024
Question

How do I fix the Beginning Balance in the Reconciliation screen when it does not agree to the Beginning Balance in my Register for the same period?

  • April 28, 2024
  • 1 reply
  • 0 views
This is not a new account, has 5 transactions and I already tried re-doing previous reconciliations.

1 reply

April 28, 2024

I'm here to help you troubleshoot the issue you are facing with your beginning balance, Lori.

 

To begin with, we'll need to review your original opening balance and ensure it's accurate, as this is the basis for all future reconciliations. If it's incorrect, it can affect the accuracy of your entire reconciliation process. 

 

Second, check your bank statement. If you have multiple accounts at the same bank or more than one account of the same type, ensure you're reconciling the right one.

 

  1. Hover to Transactions, then select Reconcile 
  2. Select the account that you want to reconcile from the Account dropdown.

 

If your account is connected to online banking, match and categorize your downloaded transactions before you start reconciling. You'll need to categorize everything to get your final correct beginning balance.

 

Moreover, once you've identified the correct account, you can begin the reconciliation process. If you have any transactions that need to be corrected, you can refer to this article for guidance:  Fix issues for accounts you've reconciled in the past in QuickBooks Online

 

For future help, once you're beginning balance is correct, you can start reconciling your account. I'll add these helpful articles for future reference: 

 

 

Keep me posted if you have any additional questions about making corrections to your beginning balance. I'll be right here to help.