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smo3
Level 2

Opening balance in Chart of Accounts doesn't match beginning balance in reconciliation

So I'm in a bit of a pickle here. Here's what happened:

 

1) I accidentally connected my checking account a second time when adding a new one (I chose the start date of the new account, this will become important later). This created a new account and disconnected the bank account from the original.

2) Based on some bad advice somewhere else in this forum, I merged the two accounts and made the new account the surviving one.

3) I deleted duplicate transactions, including the opening balance that came in from the different start date.

 

All is well, except that all my reconciliations were lost. I would do those again (begrudgingly), but the beginning balance shown on the reconcile page is the deleted one from the new start date, and doesn't match anything that's now in the chart of accounts. It also doesn't match anything I can find in my bank statements.

 

The old beginning balance is still in the chart of accounts, so I'd like to start reconciling from that date and that balance. But how do I do that?

 

Overall I'm pretty frustrated that QBO didn't do anything to prevent this problem in the first place. It can't be that hard to notice that I'm trying to connect a bank account that's already connected! But if I can just re-reconcile, it won't take that long the second time.

1 Comment 1
Tori B
QuickBooks Team

Opening balance in Chart of Accounts doesn't match beginning balance in reconciliation

Good morning, @smo3.

 

Thanks for taking the time to reach out to the QuickBooks Community. I hope you're having a great day so far. 

 

Please keep in mind when merging accounts that have reconciliation reports, you should always save those reports first. The account being merged may not keep the reconciliation history. However, the transactions remain in the merged account and stay reconciled.

 

I recommend consulting with your accounting professional for this one. Your accountant can advise the best way to handle this issue based on your business needs. If you don't have an accountant, don't sweat it. You can find one here in our Resource Center

 

I can see how frustrating this can be when trying to keep good records for your business. With that being said, I want to mention sending feedback to our Development Team. Our developers review all feedback request and take them into consideration with new updates. You can use the link I'm including below to send your suggestions. 

 

 

Please let me know if you have any additional questions or concerns. Take care!

 

 

 

 

 

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