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March 16, 2024
Question

I have changed the beginning balance for my first reconciliation online. However, it is showing as a negative. I did not put in as a negative. How do i make it positive?

  • March 16, 2024
  • 1 reply
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How do I make my beginning balance a positive number?

1 reply

March 16, 2024

I see you are having reconciliation discrepancies in QuickBooks Online. You've arrived at the correct forum. I have insight and guidelines to help you fix issues for accounts you've reconciled in the past.

 

When reconciling an account, you need to review the beginning balance in QuickBooks. It is the amount in the account at the start of the period you are reviewing. It serves as a checkpoint to ensure you start with accurate numbers. 

 

Ensure the beginning balance amount matches your bank statement for the start day. If it does not, QuickBooks will guide you on what needs to be changed. Here are some causes of beginning balance issues:

 

  • Someone entered an incorrect opening balance when they created the account in QuickBooks.
  • Someone added transactions older than the opening balance but didn't edit the original opening balance entry to reflect the change.
  • Someone edited, deleted, moved, or unreconciled an already reconciled transaction. It changes the ending balance of your last reconciliation, which impacts the beginning balance of the next one.
  • Someone manually reconciled a transaction, so it didn't reflect on the following reconciliation.

 

To proceed, first, ensure your opening balance is correct before checking your beginning balance. Next, check your bank statement and be sure you are reconciling the correct account for the exact month. Here are the steps:

 

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

 

To access detailed information and find out what steps to take next, please refer to this article: Fix issues for accounts you've reconciled in the past in QuickBooks Online.

 

I'm adding these articles you can use in the future:

 

 

By following these steps, you should be able to rectify the discrepancies in your reconciliation. If you have more questions about reconciling your accounts in QuickBooks Online, post them here in the forum. I'll be sure to answer them ASAP! Have a great day!