Skip to main content
S
swatikum26-gmail
July 24, 2020
Question

I see a beginning balance for the account when i am in the reconciliation window but there is nothing in the bank register. This is the first reconciliation.

  • July 24, 2020
  • 1 reply
  • 0 views
Original commenter did not share additional details

1 reply

L
LauraAB
July 24, 2020

Hello!

 

Welcome to the QuickBooks Community. It's awesome to see you're reconciling your books in QuickBooks Online as this will ensure that you're accounting for all the transactions you need for the business. I want to make sure you're on the right track with this process so you can balance your books.

 

Checking the account register is the perfect place to start when you're not sure where the beginning balance is coming from. When you've created a beginning balance entry or set a beginning balance when you created the bank or credit card account, you'll see the related transaction there. The transaction would show the Opening balance equity account and have Opening balance in the memo column. If you made a mistake with this entry, you can change it right in the register by clicking it and then edit. This article explains that process in more detail: Fix beginning balance issues during your first reconciliation in QuickBooks Online

 

It sounds though like you don't have that sort of entry since you say there's nothing in the bank account. For that reason, it'd be best to have one of our support agents look over this with you so there's a clearer sense of what's going on. By collecting details and using screenshot or a screen share session to see what you're seeing, the agent will be able to help you get back on track. Here's how to contact support.

 

Schedule a Callback or Chat: click (?)Help in the upper right > click Contact Us > explain your situation > click Let's Talk > choose Get a callback or Start a Chat

Social Media: Facebook, Twitter, and Instagram

 

We're here to help!

1
1536
May 11, 2023

Hi, I need a help to clear beginning balance to zero. There is a balance in the reconciliation window, but there is no balance on visa account. It is new visa. Balance should be zero.

A
Alex M
May 11, 2023

Hi there 1536,

 

It's important that your bank account has the right balance for your books to be accurate. QuickBooks Online offers you the option to do a reconciliation to verify transactions in your books to make sure they're all included. I can give you some information about the initial balance.

 

One way to verify which transactions affect your reconciliation opening balance would be to navigate to the Accounting section and then Chart of Accounts. Click the Account History button to the right of the bank account in question. then click on the column title with a checkmark to be able to organize the list of transactions by reconciliation status. All transactions that have an R in the column with the checkmark affect the opening balance of your reconciliation. If you want to have an opening balance of zero for the first reconciliation, remove the R of each transaction by clicking on the R until this box is empty, then Save.

 

If you have any further questions, please feel free to ask them here.

Terms & ConditionsAccessibility statement