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Hello there, @skerr@trumbullna.
I'd be happy to share with you the steps in correcting beginning balance error in QuickBooks Online (QBO).
Before we proceed, allow me to provide factors that cause incorrect beginning balance:
To fix this, let's first review your original opening balance. It will affect all following reconciliations if it’s incorrect.
Once done, you'll now have to check your bank statement to confirm you're reconciling the correct account and month.
Then, you also have to ensure that all of your transactions are categorized before you begin reconciling.
Next, you have to review any discrepancy report and make the necessary changes to correct the balance.
Once everything is fine, you can now start reconciling.
For more details about the process above, please see this article: Fix issues for accounts you've reconciled in the past in QuickBooks Online. This also includes a guide on the things you need to review once the reconciliation is done.
Also, getting a handy copy of your previous reconciliation report is a breeze. This will serve as your guide to avoid mistakes in doing future reconciliation.
If you have any other concerns about fixing the beginning balance issue, feel free to add a reply below. I'd be happy to assist you once more. Take care always.
DivinaMercy,
This is an old account with years' of history so the opening balance would never have been touched. The reconcile discrepancy report is not showing any data/results, and I've reviewed the audit logs going back before my last clean reconciliation on 1/5/22. I'm baffled.
Scot
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