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A
AC_Counting
March 12, 2025
Question

I accidentally un-did my last bank reconciliation and now I can't re-reconcile my bank statement due to the beginning balance being wrong

  • March 12, 2025
  • 2 replies
  • 0 views

I have Quickbooks Premier Plus Manufacturing and Wholesale Edition 2023 on my desktop. 

 

I was balancing my February bank statement and accidentally clicked on the Undo Last Reconciliation after I reconciled February. It didn't undo the reconciliation as far as I can tell since the February invoices are showing that they've been cleared on the checkbook, but if I click on Begin Reconciliation again, the beginning balance is incorrect.

 

This is an account that doesn't get much use. We're going to be closing it so there's not much in there. The February beginning balance should be $30.23, ending <$61.25>. After I clicked on the Undo Last Reconciliation, it's now showing a beginning balance for the next reconciliation as <$975.10>. I have NO idea where that number came from because there aren't any reconciliations with that number.

 

When I click on Locate Discrepancies, what pops up is a blank report with no numbers. I've clicked on GOTO, chose both amounts, but it doesn't even find the $30.23 which is right there at the end of January on the checkbook. I don't think the GOTO option is working.

 

How do I fix this?

2 replies

A
AC_CountingAuthor
March 12, 2025

To add to my post above, I went to Reports --> Banking --> Previous Reconciliation, and it shows that the last statement I reconciled was 02/28/25.

 

I'm even more confused.

J
JayneusCaesarR
March 12, 2025

Hello there, @AC_Counting.

 

To correct the beginning balance for your upcoming reconciliation, you'll have to undo the reconciliations back to January 31—the point at which there were no errors in your balances. I will guide you through the steps, and we will determine the reason for the inflated amount that appears after undoing your reconciliation.  


Before adjusting any reconciliations, it's essential to create a backup. This ensures you maintain a recent copy of your accounting records in case of data loss.

 

To undo the reconciliation, please follow the steps below:
 

  1. Go to the Accountant menu, then select Reconcile.
  2. Choose an Account or the Bank to reconcile.
  3. Click Undo Last Reconciliation repeatedly until you reach the last reconciled date without any errors.
  4. Once done, double-check the Beginning Balance from the data to your Bank Statement.
  5. Enter the correct Ending Balance, then click Continue.
  6. You can now resume your reconciliation, starting from February and continuing through to the current date.

 

You've mentioned that your beginning balance appears inflated. It is likely due to transactions from March being incorrectly recorded and reconciled as part of February. Please review the reconciliation and compare it with your bank statement to resolve this issue.

 

When you see a blank report after selecting "Locate Discrepancies" for February, it means there were no changes made to the transactions during that month.

 

Lastly, I've included an article on how to save the settings of your customized report for future use: Create, access, and modify memorized reports.

 

If you need further assistance with the undoing reconciliation, feel free to add comments by utilizing the Reply button below. I'm just a few clicks away to help.

A
AC_CountingAuthor
March 14, 2025

I went to Banking, clicked on Reconcile, the box popped up, clicked on Undo Last Reconciliation, but the "previous beginning balance" of the previous month is wrong as well so I didn't go any further. The previous month was correct initially, but now it's wanting to be incorrect? I don't understand what's going on. 

 

However, I did click on Previous Reports, and January's is showing the correct amount on the display there. 

 

Would it be better to wait until the end of March, have an incorrect beginning balance, a correct ending balance, and let Quickbooks fix the difference? Or is that going to cause an even bigger problem?

 

Should I go into the checkbook and uncheck the transactions that were cleared on the February statement, but would that let me re-do the February reconciliation?

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