To ensure your books agree with your bank, the beginning balance of your account in QuickBooks Online must match the beginning balance on your statement before you start reconciling an account.
See Why doesn't my QuickBooks Online beginning balance match my statement? to learn how QuickBooks Online determines the beginning balance of an account.
Follow the scenario that best matches your situation.
Tip: To find out whether an account has been reconciled before, look under the Ending date field for a blue link that tells you the last statement ending date. If there isn't one, this account hasn't been reconciled before.
Note: When you connect your bank, it automatically records a beginning balance based on how far back you downloaded transactions (usually 90 days back). If the account has any transactions prior to this time period, this automatically recorded opening balance may not be the correct beginning balance.
Check to make sure you're reconciling the right account for the right month. This is easy to miss, especially if you have multiple accounts with the same bank.
Note: If you're reconciling the right month and the beginning balance is wrong and there's no alert, it's possible that this account has never been reconciled using the reconciliation tool in QuickBooks Online. We recommend that you call your accountant or us to help you sort this out.
The solution is to perform a single reconcile using the ending balance of the last reconciled bank statement. Don't enter any interest or fees, and then save the reconcile.