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Level 1

Visa balance does not match ending balance.

I am reconciling my visas and the start opening balance is a credit of 24.04. I went in and put in the start balance and end date on the statement. It was a new card, no previous balance, and when i started it was showing a start balance of over 3000.00. so now after i have checked off all the expenditures and payments it is not balancing out. How do I change the start balance too 24.04. I got the card in July.

1 Comment
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Level 6

Visa balance does not match ending balance.

Hey Trinity Tactical,

 

Reconciling your accounts is the best way to keep things consistent between your books and your bank. It's great for identifying discrepancies like these so they can be addressed before they cause any issues. Since you've already pinpointed the specific transaction, I'm confident you'll have no problem correcting it. I'll be happy to show you how.

 

The beginning balance entry is automatically set by the system when you connect a financial account. This ensures we have the correct balance, and you can easily edit it in just a few simple steps: 

  1. Go to the Accounting menu, then select Chart of Accounts.
  2. Find the account on the list, then click Account history.
  3. Search for the opening balance entry. It should have “Opening Balance Equity” in the Payee Account column and “Opening Balance” in the Memo column.
  4. Click on it, then select Edit or Delete.

Most opening balance entries don't allow you to easily change a debit to a credit, in which case you can delete it. Once that's done, you can manually record an opening balance. Check out this great article for additional things you can try: Fix beginning balance issues during your first reconciliation in QuickBooks Online

 

Let me know how this goes! I'm here for you if you have more questions.