I am wanting to reconcile a bank account. It has never been reconciled. My beginning balance does not match. I am trying to figure out where QuickBooks came up with this beginning balance number. Is there a way to change it without creating a journal entry?
Thank you for posting your question in the Intuit Community, emily_dale,
Let me get the help you need to ensure you'd able to match beginning bank balance.
To further isolate the issue, let's check the balance for this bank account. Here's what you'll need to do:
For more information about reconciling accounts in QuickBooks Online, here's a great resource that you can check:
If you have further questions in reconciling accounts, please feel free to reach back out. I'm always here to help.
There is no option to edit the beginning balance in the window you mention. I don't understand how to fix the issue, which is happening because Quickbooks only uploads 90 days of information.
It's nice to see you here again, @Anonymous,
Allow me to step in for a moment and share some insights on how to update your beginning balance.
Here are most common causes for a beginning balance discrepancy:
Please be reminded that you can only edit the Beginning balance if it is your first time setting up the account or if there aren't any transactions yet. To get past the problem, follow the steps below:
Once you identify the issue, you can correct them by creating adjusting entries or recreating the deleted transaction if any. Before making any corrections, I'd suggest consulting this with an accounting professional to get the best legal and accounting advice for this type of concern. To create a journal entry in QBO:
You can also see the steps to do the adjusting entries in this article: Create a Journal Entry
To know more about fixing an incorrect beginning balance, please check out this article: Fix an opening balance to match a bank statement.
That should help you reconcile your account this time. The Community is always here, so don't hesitate to let me know if I can be of further assistance. Have a great day!
Hi I have a similar problem. I am using QBO and it is completely different than the Desktop. There were issues with a reconciliation in March, so my CPA deleted the entire year of reconciliations, which I understand. But the Beginning balance is off, we opened this account in 2019 so there weren't any transactions prior to that date. I have no idea where this balance is coming from. There were only 5 transactions in January 2019 and they are all accounted for. I've tried doing an JE and it corrects my Reconciliation report but my register balance is off. I've spoken with Intuit and the rep said that she has heard of this happening but could not find any information about correcting this. Help
Hi Just curious, where you ever able to figure out the problem? I'm having a similar issue, my opening balance is off but there are no corresponding transactions in the register.
Hello there, SJ3351,
There are a couple of reasons why the opening balance is off:
If there's an R on any other transactions, select the box in the checkmark column. Keep selecting it until you see a C or blank box. Then select Save. Then, start reconciling again.
Check this article to learn more: Fix beginning balance issues during your first reconciliation in QuickBooks Online
You may also want to consult with your accountant to make sure you're doing it correctly.
I'll be around if you need more help.
Thank you for replying. I forgot to mention in my initial post that the discrepancy only shows up on the Reconciliation side. The Bank register all matches, there are no older transactions listed
Let's make sure to keep your QuickBooks accounts accurate, SJ3351.
I'd like to provide you ideas on what you can do if you didn't enter an opening balance in QuickBooks.
Before creating a Journal Entry, check your account register that you don't have an opening balance. If there's a balance, don't create a JE. Please note of the date and amount. Make sure the opening balance is correct.
To learn more about the process, please check out this article for your guide: What's an opening balance?
Let us know if you need more help with managing your accounts in QuickBooks. We're here to help.
There was one opening deposit of $1K then 4 other transactions. But when I go to reconcile it has a previous balance of -3,568.75. I have no idea where that number came from as there is nothing showing in the register before the $1K. The register matches the bank statement, I only see the negative previous balance in the Reconciliation side. There is no "We can help you fix that" message.
Good evening, @SJ3351.
Let's work together and get this previous negative balance resolved.
Before we go into detail, I'm going to need some additional information about what's happening when you go to reconcile.
Also, let's try clearing your browser's cache and cookies just in case it's holding on to bad data.
Here is also a link with steps on how to clear cache and cookies with other browsers: Troubleshooting Browsers
Touch base with me after trying the troubleshooting steps above. Speak soon!
Thank you for the screenshot you've provided, SJ3351.
The amount on the beginning balance is from the reconciled transactions. Let's try to run a report for the checking account to locate these transactions.
Check if there's an R on any other transactions. You'll want to adjust you ending balance if you find the transactions.
Let me know if you have more questions.