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Mar 11, 2024 3:24 PM UTC
Question

How to fix Reconciling bank statement it balanced last month and the beginning balance is off this month. It does not list anything to fix.

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1 reply

Mar 11, 2024 4:48 PM UTC

I'm here to ensure you can resolve your beginning balance discrepancy, edwards. 

 

Here are the reasons why there's a difference in your beginning balances after your previous reconciliation: 

 

  • Opening balance incorrectly entered in creating the account.
  • Added transactions older than the opening balance and didn't modify the previous opening balance. 
  • Transactions already reconciled were edited or removed. 
  • A transaction that didn't show up due to manual reconciliation. 

 

To ensure we can get past this, review the beginning balance since it's the amount in the account at the beginning of the period you're reconciling or reviewing. 

 

Here's how: 

 

  1. Locate the Chart of accounts page. 
  2. Look for the account you're reconciling and choose View register. 
  3. From the list section, search for the opening balance and note the date and balance. 
  4. If it's incorrect, click on it to expand the line. 
  5. Then, go to the Deposit column and modify the amount. 
  6. Hit Save, and then Yes. 

 

Afterward, we can proceed with Steps 3 and 4 in this article: Fix issues for accounts you've reconciled in the past in QuickBooks Online. 

 

Also, you can visit these resources to help you with reconciling your accounts in QuickBooks Online (QBO): 

 

 

I'm still ready to assist with any reconciliation-related questions. Take care always!