fixing a credit card beginning balance - unusual

I've got your back, JAG2350. I'm here to help you resolve the beginning balance of your credit card reconciliation.

To resolve the beginning balance that is over by the amount of the voided payment, we'll need to make sure the beginning balance matches the balance from your last reconciliation. To get this number, just run the Previous Reconciliation report to review all the cleared transactions, including the voided payment. Before you start with reconciliation, make sure to back up your company file. Let me guide you on how: 

1. Go to the Reports menu and choose Reports Center.
2. Search and open the Previous Reconciliation report.
3. Select the account you reconciled, then either Detail, Summary, or Both.
4. Tap Transactions cleared, plus any changes made to those transactions since the reconciliation.
5. Click Display.

Please take note of the ending balance and it should match your beginning balance when you start reconciling again. You'll see all the changes you've made since the reconciliation under the New Transactions section. I'd suggest clearing them manually from the account register.

1. Go to the Lists menu and select Chart of Accounts.
2. Look for the credit card account that needs fixing.
3. Locate the uncleared transactions.
4. Clear them by putting a checkmark.
5. Once done, click Record.
6. Press Yes to confirm.

Then, go back to your Previous Reconciliation report and check there are no more entries under New Transactions. Once done, reconcile the next statement until the difference between your bank statement and QuickBooks should be $0.00. If your beginning balance doesn't match your statement, just follow the recommended solutions below:

• If numbers don't match, click Locate Discrepancies to provide you reports to find discrepancies and other reconciliation issues.
• If you still have issues, fix your opening balance and beginning balance.
• If you need to start over from scratch, select Undo Last Reconciliation.

When undoing a previous reconciliation, your beginning balance reverts to the beginning balance of your previous reconciliation. Then, all cleared transactions on the reconciliation become uncleared. Feel free to visit these articles to learn more about reconciling an account and how to fix the beginning and ending balance issues:

• Fix Beginning Balance issues in QuickBooks Desktop
• Fix issues while reconciling accounts in QuickBooks Desktop

If you require additional assistance with your credit card beginning balance and reconciliation or other QuickBooks-related, please do not hesitate to leave a comment. I am always available to lend a helping hand.

OK, I think under normal circumstances, this would work.  However there are some special circumstances.  I reconciled the March 2024 checking account statement and there was an old transaction (from 2021) for $35.00 to the visa account.  Since it had not cleared my bank (in 3 years) after I finished the reconciliation I voided the check.  

Now, trying to catch up on rec's for the visa, dating to October 2022, the beginning balance is over by $35.00.  I checked the September 2022 reconciliation and the ending balance was correct (not under.)  

I need to somehow correct the balance on the credit card without impacting the checking account.  I don't know how the charge was on the credit card and not on the checking, but I need to fix it.

Thanks!!

Let me help you make sure the balance of the card is correct, @JAG2350 .

If you need to manage a credit card balance in QuickBooks Desktop, you have a couple of options. You can either record the bill as a lump sum amount or create a journal entry to correct the balance of the credit card account. It might be easier to do it per year so that you can keep track of everything more easily. Keep in mind that this will only affect the balance of the account and won't change the amount of your checking account.

Here are the steps to create a bill transaction:

1. Open QuickBooks Desktop.
2. Click on Bills on the home screen.
3. Enter all the details of the bill transaction.
4. Select the account that will be used for this transaction in the Expense column. You should consult with your accountant to determine the appropriate category for this record.
5. Enter the amount of the transaction.
6. Click Save and Close.

If you want to create a journal entry instead, you can find instructions in this article: Create a journal entry in QuickBooks Desktop for Windows or Mac.

Additionally, you may find it helpful to review these articles on reconciling an account and fixing beginning balances in QuickBooks Desktop:

• Fix beginning balance issues in QuickBooks Desktop.
• Fix issues when you're reconciling in QuickBooks Desktop.

If you have any other questions or concerns about managing your credit card balance and reconciling your accounts, please feel free to leave a comment in this thread.