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March 2, 2024
Question

I Started QB new this January. Where do I put beginning checkbook balance in?? I've entered some transactions, how do get my Dec 31, Jan 1 beginning balance entered?

  • March 2, 2024
  • 1 reply
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I'm converting from a manual system.

1 reply

March 2, 2024

Hello there, catsandglass.

 

I'm here to help you sort this issue out about entering your beginning balance.

 

If you mean to enter an opening balance as a starting point for your newly created account, you can use a journal entry to input the correct amount. Ensure to document the original transaction date and amount. Verify the opening balance using your bank statements for accuracy.

 

Once ready, here's how you can start:

 

  1. Go to the +New icon, then select Journal Entry.
  2. Enter a date that comes before the oldest transaction in the account. (This will be the opening balance date.)
  3. Fill in the details, then save the transaction.

 

Then, you can also seek help from an accountant for proper debit and credit information. Additionally, you can run through the details from this article under Step 2: Create a journal entry section: What to do if you didn't enter an opening balance in QuickBooks Online.

 

From there, you need to mark the journal entry as reconciled to prevent it from showing up on a future reconciliation.

 

Once everything is in place, you're now ready to keep track of your reconciliation

 

If this isn't the case, would you mind providing additional details about your concern to help us get on the same page and provide you with an accurate resolution.

 

If you encounter issues with your reconciliation, here's an article on how to fix it: Fix issues the first time you reconcile an account in QuickBooks Online.

 

The Community space is still open for you. So, if you have questions about your accounts and reconciliations, let us know, and we'll be here to help. Take care always.