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First month to reconcile bank. where to enter the beginning balance from bank statement?

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QuickBooks Team

First month to reconcile bank. where to enter the beginning balance from bank statement?

I can help you enter an opening balance so you can start reconciling your accounts, @colleenk


You can create a journal entry to enter an opening balance for your account to start reconciling it. 


Follow the steps below:

  1. Go to the + New button and select Journal entry
  2. Check the date the oldest transaction currently in the account. Set this date as your new opening balance date.
  3. On the first line, select the account you want to enter the opening balance for.
  4. Use your bank statements to enter the opening balance.
  5. On the second line, select Opening Balance Equity in the Account column.
  6. Click on Save once you’re done.

Then, go to your Chart of Accounts to mark the journal entry that you’ve created as Reconciled.  This prevents it from showing up on a future reconciliation.

  1. Go to the Gear icon (⚙  ) and select Chart of Accounts.
  2. Locate the account and select View register.
  3. Look for the opening balance journal entry you just created.
  4. Click the box in the checkmark column until you see an to reconcile the transaction.
  5. Select Save.

See this article for detailed guidance: What to do if you didn't enter an opening balance in QuickBooks Online. Here’s also more information on how to Reconcile an Account in QuickBooks Online.


I’m always here if you need help with your bank transactions. I’m always here to help. Have a great rest of the day!

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