Skip to main content
S
Siobhanblann
February 12, 2019
Solved

Amending Opening Bank Balance for First Reconcile

  • February 12, 2019
  • 1 reply
  • 0 views

My client downloaded transactions into QB going back to October but we needed it to start 1st December.  Therefore the transactions up to 1st December were excluded from the bank feed.  Now we need to do our first reconcile but the opening balance is wrong.  I assume because it was the opening bank balance from October.  How can I get the opening bank balance to show as per the bank statement from 1st December? 

 

When I look at the register I cant even see an opening balance.  Again I assume because the transactions from October were excluded

Best answer by AldrinS

I've got you covered, Siobhanblann.

 

I'm by no means an accounting professional, but I do have some insight and resources to provide that can help get you on the right track.

 

You've got it right. Since the transactions from the previous months were excluded, it would result in the opening balance being incorrect. A quick and easy way to fix this is to look for the Opening Balance entry in the bank's register and edit it to the correct amount.

To edit a wrong opening balance

  1. Click Accounting in the left navigation menu.
  2. Look for the bank account, then select View register.
  3. Find the opening balance entry.
    - Click the Date column to sort the transactions from oldest to newest. Doing this will place the Opening Balance entry at the top.
  4. Select the entry once you've found it.
  5. Edit the amount.
  6. Click Save. Note that the change will not be saved if you navigate away from the register without saving.

I'm also including some resources that pertain to your scenario for further assistance:

Let me know if there's anything else I can do to help you succeed with QuickBooks. Thanks for reaching out, wishing you all the best!

 

1 reply

A
AldrinSAnswer
February 12, 2019

I've got you covered, Siobhanblann.

 

I'm by no means an accounting professional, but I do have some insight and resources to provide that can help get you on the right track.

 

You've got it right. Since the transactions from the previous months were excluded, it would result in the opening balance being incorrect. A quick and easy way to fix this is to look for the Opening Balance entry in the bank's register and edit it to the correct amount.

To edit a wrong opening balance

  1. Click Accounting in the left navigation menu.
  2. Look for the bank account, then select View register.
  3. Find the opening balance entry.
    - Click the Date column to sort the transactions from oldest to newest. Doing this will place the Opening Balance entry at the top.
  4. Select the entry once you've found it.
  5. Edit the amount.
  6. Click Save. Note that the change will not be saved if you navigate away from the register without saving.

I'm also including some resources that pertain to your scenario for further assistance:

Let me know if there's anything else I can do to help you succeed with QuickBooks. Thanks for reaching out, wishing you all the best!

 

Terms & ConditionsAccessibility statement