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Migration to QBO-
Migrated a client from Sage50 to QBO, using the TB numbers. Everything is nice and dandy, except for my bank reconciliation.
The number from TB/BS has an amount of O/S items within it, which creates discrepancy in my bank reconciliation.
I have solved this issue before, but right now, my brain is about to explode and can't remember how I did it.
Does anyone know how to do this to have my GL-Bank intact, and my starting balance in my bank reconciliation correct?
Is there a balance in "opening equity balance" account? Does it match the reconciliation discrepancy?
Hi there, @NextGenBizSolutions. I'm here to help you fix the discrepancy in your client's reconciliation.
To get started, let's make sure that the transactions recorded or added in QuickBooks Online (QBO) matches the client's bank statements. If there are unwanted entries, then you can exclude or remove them from QuickBooks.
On the other hand, I also recommend checking the account's opening balance. It needs to match the balance of the real-life bank account for the day you decided to start tracking transactions in QuickBooks. Once settled, proceed with your reconciliation.
In case you encounter issues after the process, use this link as your reference to fix the issue: Fix issues at the end of a reconciliation in QuickBooks Online.
If you have any other follow-up questions about reconciliation, let me know by adding a comment below. I'm more than happy to help. Keep safe!
Thank you it has been resolved.
Hi there NextGenBizSolutions,
I'm happy to hear that this has been resolved. if you have any other questions, feel free to reach out here.
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