How do I correct my beginning balance from my last reconciliation?

Allow me to share some information on how to fix the incorrect beginning balance in QuickBooks Online (QBO), @ludysm09.

If this is your first time reconciling an account and the beginning balance is off, don't worry. The issue is the opening balance. You can double-check your entries in QuickBooks Online.

I recommend pulling up your bank statement to compare the details. This way, we can ensure the amounts match. Some of the causes for beginning balance issues are missing or duplicate transactions. Deleted, moved, and unreconciled transactions that were on a previous reconciliation is one of the examples, too.

If you correct your opening balance, it also fixes your beginning balance. Here's how to fix opening balance issues so you can start reconciling:

1. Go to the Accounting, then Chart of Accounts.
2. Find the account on the list.
3. Select View register to get more details.
4. Search for the opening balance entry. It should have “Opening Balance Equity” in the Payee Account column and “Opening Balance” in the Memo column.
5. Match the balance to your bank account.

If you didn't enter an opening balance in QuickBooks Online, you could create a Journal Entry to record it. After you finish, you'll need to manually reconcile it in the register.

Here's an article that gives you more details on how to fix the beginning balance.

Please let me know if you have any other issues or concerns by leaving a comment in this thread. Take care always.