TROUBLE RECONCILING

Starting a reconciliation with a wrong beginning balance usually means a past transaction was edited, deleted, or unreconciled, which you can fix by opening the Reconcile Discrepancy Report via the FIX alert link and correcting the flagged items until the total difference hits CAD $0.00.

Once you open the link, review each flagged transaction one at a time. Select View to see its change history, then check the Change Type column to see what happened to it. If the amount was changed, select the transaction, click Edit, adjust the amount or account, then Save and close. If it was unreconciled in the register, reconcile it through the normal reconciliation flow, or manually mark it with an R in the checkmark column in the Account history.

If it was reconciled in error, select the transaction and clear the checkmark column (blank or C) to remove it from the reconciliation, then Save. If it was deleted accidentally, recreate the transaction exactly as shown on the report, then manually mark it R in Account history and Save.

Once the total discrepancy difference on the report reaches CAD $0.00, your beginning balance in QuickBooks should now match your bank statement. You can then select Resume reconciling to continue as usual.

For detailed guidance, visit the full article: Fix issues with your beginning balance for accounts you've reconciled before. Also, since you mentioned you've never had formal training on this, you may also find it helpful to visit this article: Learn the reconcile workflow. For a fuller walkthrough of the process.

Moreover, I recommend reaching out to your accountant so they can help review your books to make sure everything's accurately balanced going forward.

Feel free to reply below if you have any further questions!