fixing balances

Hi amc62,

I'm here to help you fix the beginning balance so you can reconcile the transactions.

Since the account you want to reconcile has transactions, we'll have to create a journal entry to enter the beginning balance.

Here's how:

1. From the Company menu, select Make General Journal Entries.
2. Change the date to the correct statement date of your beginning balance.
3. Select the account you want from the Account drop-down.
4. Enter the correct opening balance in the Debit column.
5. Select Opening Balance Equity and then select Save.

From there, we'll have to reconcile the transactions starting from the month of January. Below are the steps to do so:

1. Select Reconcile from the Banking menu.
2. Select the account you want to reconcile from the Account field.
3. Enter the statement date (January) and ending balance that matches your Journal Entry. (You can use your bank statement for January to enter your ending balance).
4. Click Continue.
5. In the Deposits and Other Credits window, select the Journal Entry.
6. Select Reconcile Now.

Afterward, you can continue reconciling for the month of February, then March, and so on. Since you have multiple accounts to reconcile, we'll have to reconcile them manually. I've added this article as your guide in reconciling the entries: Reconcile an account in QuickBooks Desktop.

I'm always around whenever you have concerns about reconciling transactions.

Thank you.  I did exactly what you said and when I went to reconcile the beginning balance is still zero.  I went back and checked and the journal entry is there.

I did exactly what you said and when I went to reconcile the beginning balance is still zero.  I check the Journal entry and it is there Checking (debit) and Opening Balance EQuity (credit)

We appreciate you getting back here in the thread, @amc62. We'll help you fix zero balances when reconciling an account inside QuickBooks Desktop (QBDT).

Inside the program, you can run a Reconcile discrepancy report, Audit trail report to determine what's causing this issue on your end. If you wish to utilize the discrepancy report, here's how:

1. Access your QuickBooks Desktop company.
2. Go to Reports, then select Banking, and then Reconciliation Discrepancy.
3. Select the Account, and then select OK. You'll have a list of transactions that changed since your last reconciliation. Use this report to identify the transaction(s) causing the issue.
4. If you find a discrepancy, note the transaction date and the Entered/Last Modified, which will tell you when the change happened.

If you find what's causing this discrepancy, you might need to edit or enter the transactions again. For further guidelines, please see this page: Fix beginning balance issues in QuickBooks Desktop.

In case the issue persists, we recommend utilizing the Verify and Rebuild Data option. It may have something to do with your company data. You can visit this page for more details: Verify and Rebuild Data in QuickBooks Desktop.

Additionally, here are some articles to help you fix reconciliation, and ensure your data stays accurate inside the program:

• Fix issues when you're reconciling in QuickBooks Desktop.
• Customize reports in QuickBooks Desktop.

We look forward to having you here if you need further assistance reconciling an account inside QuickBooks or have any additional questions related to the program. We'll make sure to respond right away. Keep safe.