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Bookeeping101
February 27, 2021
Question

Opening Balance for Bank Reconciliation

  • February 27, 2021
  • 1 reply
  • 0 views

I'm attempting to do my first bank reconciliation and hadn't yet put in the open balance for my bank account.

 

I created a deposit for the amount and set the account to Opening Balance Equity.  When I reopen the bank reconciliation workflow, it's not registering my beginning balance (still showing as 0.00).  What do I do next to fix this?

 

Thank you,

1 reply

J
JamesM4
February 27, 2021

Hi there,

 

Welcome back to the Community!  Reconciling accounts can be a time-consuming task but QuickBooks makes it fun and intuitive to get through the process and have a $0 difference in the end. The program is designed to help you complete your tasks faster so you can save time for the things you love. Don't worry, I'll be glad to help make the experience as seamless as possible. 

 

QuickBooks gives you the flexibility to accurately reconcile your transactions. Before reconciling, I highly suggest consulting your accountant for expert advice on how to process. If you're not in contact with one, I encourage you to search for one on our website using this link here.

 

 Here are some helpful resources that'll help get you started so you can get ahead with your work: 

Give this a try and if you have questions, I recommend leaving a comment below. I'll be one message away! :)

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