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EmilianoG
September 6, 2020
Question

The bank reconciliation tool shows a starting balance not tied to any source-

  • September 6, 2020
  • 1 reply
  • 0 views

We started accounting with QB online since the beginning of the company so the Bank account starting balance in the balance sheet was zero. However when I try to use the reconciliation tool, it shows an starting balance of negative -2080.25, I reviewed the account history/view register and did not find any opening balance transaction. 

I tried to create a journal any to define the opening balance, but when I go back the reconciliation tool it just adds to the original negative number, it does not replace it.

As a consequence I cannot reconcile the bank account using this reconciliation functionality as does not matter if I match reconcile and match all the transactions, leaving the balance sheet with the right numbers, there is always a difference in the reconciliation tool driven by this -2080.25 that are nowhere to be found in any transaction.

 

Could you please help me out to solve this?  

 

 

1 reply

JessT
JessT
September 6, 2020

Let's fix your starting balance, EmilianoG.

 

From what I'm getting, you haven't reconciled this particular account yet. So, what we'll do now is find any transactions that have an R (reconciled) mark because they affected your opening balance. You'll want to click each of them and remove click the R field until it becomes blank. Then, you'll click Save and confirm it. After that, you can reconcile again. See more fixing beginning balance issues during the first reconciliation.

 

If you run into issues again, please don't hesitate to go back to this thread. You can also check out more references for QBO here.

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