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August 12, 2021
Question

I am trying to reconcile an account for the first time. The beginning balance is incorrect. How do I edit it so that I can start reconciling?

  • August 12, 2021
  • 1 reply
  • 0 views
Do I enter a JE or AJE or do something else? The area that is incorrect is in the screen where you can adjust beginning balance, ending balance and date.

1 reply

August 12, 2021

Hello sarah-doonan-boo,

 

Welcome to the QuickBooks Community. I know the role that an opening balance plays when it comes to reconciling your accounts, and I want to make sure that you have the steps to correct this. I appreciate the details you've shared so far. I can help you with this.

 

The beginning balances for accounts in QuickBooks Online are based on either what you entered when creating the new account in the chart of accounts or based on the banking details if you connected your bank account in the bank feed feature. Depending on your situation, correcting the opening balance can happen in a few different ways. For instance, if you manually created the account in the chart of accounts without the bank feed connection, but didn't enter an opening balance, our What to do if you didn't enter an opening balance in QuickBooks Online article can help.

 

If you did enter a balance or there is an opening balance entry that you simply need to correct, the Edit an incorrect opening balance article can help. I've also got another article here that may be of use to you: Fix issues the first time you reconcile an account in QuickBooks Online

 

Give those a read through to see which fits your situation, and feel free to reply here if you have further questions about these processes. I'm happy to do what I can to help.