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julie39
Level 2

Bank Reconciliation - Major Issue

Please can somebody help me.  I seem to have created a monster issue!!!

 

I need to undo a number of months bank reconcilation that had previously been done but was then corrected and created too many discrepancies for my client to sort.  I followed instructions to undo month by month and did so back to the month where there were no errors.  However, I am not sure what has happened, as I now have a massive beginning balance discrepancy and am still unable to reconcile.  Looking at the error report, it is actually showing errors for entries that have been made after the month that I am now trying to reconcile.  i.e.  May statement - errors on error report are showing for May - Aug.

I desperately need help in trying to sort this.  If anybody has any solutions please.

Many thanks

Solved
Best answer September 08, 2022

Accepted Solutions
Mark_R
QuickBooks Team

Bank Reconciliation - Major Issue

I can see the urgency and how eager you are to fix your bank reconciliation issue, @julie39. No worries, I've come up with a solution to help you sort this out.

 

There are possible causes why you have issues with the beginning balance. Below is the list of them:

 

  • Someone entered an incorrect opening balance when they created the account in QuickBooks.
  • Someone added transactions that are older than the opening balance, but didn't edit the original opening balance entry to reflect the change.
  • Someone edited, deleted, moved, or unreconciled an already reconciled transaction. This changes the ending balance of your last reconciliation, which impacts the beginning balance of the next one.
  • Someone manually reconciled a transaction, so it didn't show up on the next reconciliation.

 

To get this resolved, you'll want to follow the step-by-step instruction in this article: Fix issues for accounts you've reconciled in the past in QuickBooks Online. This will guide you through the process of fixing your beginning balance issue.

 

Come back to this post and let me know how it goes, @julie39. I want to make sure you're taken care of.

 

You may want to check out this article to learn more about the reconciliation workflow: Learn the reconcile workflow in QuickBooks. This will help handle your reconciliation correctly.

 

Have a great day ahead!

View solution in original post

1 REPLY 1
Mark_R
QuickBooks Team

Bank Reconciliation - Major Issue

I can see the urgency and how eager you are to fix your bank reconciliation issue, @julie39. No worries, I've come up with a solution to help you sort this out.

 

There are possible causes why you have issues with the beginning balance. Below is the list of them:

 

  • Someone entered an incorrect opening balance when they created the account in QuickBooks.
  • Someone added transactions that are older than the opening balance, but didn't edit the original opening balance entry to reflect the change.
  • Someone edited, deleted, moved, or unreconciled an already reconciled transaction. This changes the ending balance of your last reconciliation, which impacts the beginning balance of the next one.
  • Someone manually reconciled a transaction, so it didn't show up on the next reconciliation.

 

To get this resolved, you'll want to follow the step-by-step instruction in this article: Fix issues for accounts you've reconciled in the past in QuickBooks Online. This will guide you through the process of fixing your beginning balance issue.

 

Come back to this post and let me know how it goes, @julie39. I want to make sure you're taken care of.

 

You may want to check out this article to learn more about the reconciliation workflow: Learn the reconcile workflow in QuickBooks. This will help handle your reconciliation correctly.

 

Have a great day ahead!

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