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mac216ster
Level 1

Bank reconciliation ending/beginning balance don't match

I have spent hours trying to figure this simple thing out . .  and also spent hours trying to find an answer online.  Here goes...

1. I am reconciling an account for the first month of it's existence.

2.  When I begin the recon, it asks for ending balance and ending statement date.  I entered.

3.  The first transaction shows the money we deposited to begin the account.  

4.  I went line by line, and ALL transactions match.  All transactions are checked.

However....  the DIFFERENCE at the end of all this is $2,620.69.

 

How in the world can this NOT balance.  My head is going to explode.  Only 55 total transactions and I can't make them balance.  Augh!

 

I really tried to NOT submit this stupid question....but, I'm afraid I have to.   Sorry.

 

Thanks in advance!

 

6 Comments
MirriamM
Moderator

Bank reconciliation ending/beginning balance don't match

Hi there, mac216ster,

 

I'd like to share a solution that can help in this situation.

 

When reconciling accounts in QuickBooks Online, it is important to make sure to enter the correct Beginning and Ending Balance. Also, confirm that the beginning balance on your statement matches the beginning balance posted into your account.

 

To help us resolve the reconciliation differences, I've got here some helpful articles that you can check on: 

If you need assistance with the steps, you can always contact our dedicated team. They have specific tools like screen sharing to walk you through. 

 

To contact us, here's how:

  1. Click Help icon on the top right.
  2. Click Contact US at the bottom.

Keep me posted on how things go. Able to reconcile your account properly is my top priority.

 

 

mac216ster
Level 1

Bank reconciliation ending/beginning balance don't match

Thanks MirriamM,

This is the first time I am reconciling this account.  When I started it, the only thing I could enter was the ENDING BALANCE and the STATEMENT END DATE.  I have checked and matched all trans for the month.  HOWEVER, I have not 'finished' the reconciliation yet, as it doesn't balance.

So, I didn't enter a beginning balance.  I feel that might be the prob, but I can't figure how it got off as it is the first time reconciling.  

 

I tried to follow the instructs on changing the beg balance.  but I it does not seem to be an 'editable' field.

 

I will try to contact the Help Desk next.  

thanks for all the links though, I'm sure I'll need them all!!

 

d

mac216ster
Level 1

Bank reconciliation ending/beginning balance don't match

Thanks MirriamM,

This is the first time I am reconciling this account.  When I started it, the only thing I could enter was the ENDING BALANCE and the STATEMENT END DATE.  I have checked and matched all trans for the month.  HOWEVER, I have not 'finished' the reconciliation yet, as it doesn't balance.

So, I didn't enter a beginning balance.  I feel that might be the prob, but I can't figure how it got off as it is the first time reconciling.  

 

I tried to follow the instructs on changing the beg balance.  but I it does not seem to be an 'editable' field.

 

I will try to contact the Help Desk next.  

thanks for all the links though, I'm sure I'll need them all!!

 

d

mac216ster
Level 1

Bank reconciliation ending/beginning balance don't match

Thanks!

This is the first time I am reconciling this account.  When I started it, the only thing I could enter was the ENDING BALANCE and the STATEMENT END DATE.  I have checked and matched all trans for the month.  HOWEVER, I have not 'finished' the reconciliation yet, as it doesn't balance.

So, I didn't enter a beginning balance.  I feel that might be the prob, but I can't figure how it got off as it is the first time reconciling.  

 

I tried to follow the instructs on changing the beg balance.  but I it does not seem to be an 'editable' field.

 

Maybe the next step is the Help link.  thanks again.

better
Level 1

Bank reconciliation ending/beginning balance don't match

Did you ever get this resolved? I'm having same issue and can't get it corrected.

I have a new credit card account and first month reconciling it. It only asks for statement ending balance and statement ending date. The beginning balance is zero and it's not adjustable, as you reconciling for a first month it has to be zero. All of my transactions match (I have online feed thru the bank directly) but I have a difference which equals twice the amount of my ending balance. My ending balance on my credit card statement is $1446.62 and the difference in QB is $2893.24, exactly twice the amount. Any advice?

JessT
QuickBooks Team

Bank reconciliation ending/beginning balance don't match

Let's check to see why you got a difference in your reconciliation, better.

 

Aside from making sure that your transactions match when you reconcile, please open your credit card register to see if there are accidentally added transactions.  Then, please check if there are transactions with an R (meaning Reconciled) mark. They can affect the balance of your reconciliation and can cause a difference.

 

You'll want to delete the unwanted transactions, and you'll want to un-reconcile the ones with an R mark. You can un-reconcile one by clicking on the transaction and clicking the R mark until it changes to blank or C (meaning Cleared), then save it. After that, try reconciling again.

 

 

I'm just around if you need more help.

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