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Level 1

Bank Recs and Beginning Balances

We switched from QB desktop to QB online for a short time (less than a month) and moved back to the desktop version.  I went in to do bank reconciliations, my beginning balance was zero, did the journal entry to correct that and went in to do the mini reconciliation and it appears that all my reconciliations back to October 2018 have been reversed or something.  all the transactions I had previously cleared are now listed again. How do I fix this?  

4 Comments
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Community Champion

Bank Recs and Beginning Balances

If all your reconciliations were reversed then zero may have been the correct beginning balance. Hopefully at the last reconciliation in desktop you performed you printed a detail recon report, which will give you a list of what was reconciled and what was not.  Otherwise you may have to guess. Pull out the last bank statement you successfully reconciled to in desktop and use that date and ending balance. Run your recon. If you are "off" by the amount of the beginning balance you changed then change it back. As long as you know for certain what is not cleared you can reconstruct all missing recons into one (although it might be better, bookwise, to run 12/31/18 and12/31/19 first)

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QuickBooks Team

Bank Recs and Beginning Balances

Good morning, @carla_cm.

 

I hope you're enjoying the day so far. 

 

When you convert from Online to Desktop, one of the limitations reflects on reconciles. This means that not all the transactions will stay recorded as reconciled and will cause you to do the reconcile again.  You can resolve this by reconciling up to a year at one time. Below I've included the steps to do this:

 

  1. Go to Banking and choose Reconcile
  2. Pick the account you wish to reconcile in the account drop-down. 
  3. In Statement Date field, choose the date from the financial statement you selected. 
  4. Enter the ending balance from your statement in the Ending balance field. 
  5. Compare the amount shown in the Beginning Balance field with the opening balance on the oldest statement you need to reconcile. 
  6. Enter the total Service Charge and Interest Earned
  7. Hit Continue to open the Reconcile window. 
  8. Select Hide transactions after the statement's end date in the upper right corner.
  9. Put a checkmark on each transaction dated on or before the statement date
  10. Look at the Difference amount in the bottom right corner of the reconcile window. (If the amount is $0.00, you can then click Reconcile Now. If the amount is not $0.00 your account does not balance for the period). 

Check out: Reconcile an account for multiple months or years of transactions and financial statements for more details. 

 

Also, to see a list of the limitations, check out: Limitations when you convert from QuickBooks Online to QuickBooks Desktop for more details. 

 

Please let me know if there is anything else that I can do for you further. You can always reach back out to the Community or me anytime you find you have questions or concerns. Take care and have a great weekend! 

 

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Level 1

Bank Recs and Beginning Balances

Zero is definitely not the correct beginning balance.  This is going to be a mess to fix.

Highlighted
QuickBooks Team

Bank Recs and Beginning Balances

Yes, a zero beginning balance is incorrect, @carla_cm.

 

But, we can fix beginning balance issues in QuickBooks Desktop. You can recreate the opening balance by creating a journal entry. Make sure to set the correct date and amount you want to see in the Begin Reconciliation window. 

 

After that, perform a mini-reconciliation to correct the beginning balance in the Begin Reconciliation window.

 

You can also view your previous reconciliations in QuickBooks, check this article: Get reports for previous reconciliations in QuickBooks Desktop

 

I'm always here if you still have questions about reconciliation and or anything else. Let us know in the Reply section below. 

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