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cstokes
Level 1

How do I correct Quickbooks bank balance

I am trying to correct the Quickbooks bank balance. I believe the best way would be to do a corrective deposit to fix the amount but I am just not sure. Can someone assist me with the best way? The opening balance for the account is correct. The problem is that there were transactions pulled in prior to the opening balance date/amount. I am not sure how to fix this

1 Comment 1
JonpriL
Moderator

How do I correct Quickbooks bank balance

Welcome, @cstokes!

 

There are two things you can consider that'll help fix the bank balance of your account depending on which date of transaction you wish to start tracking them. I'm here to share them and help you from there.

 

To start with, if you wish to start tracking your bank account base on the date of your opening balance, you can delete all transactions before it. Let me show you how:

  1. Go to Accounting.
  2. Find your bank account.
  3. Under ACTION, select View register.
  4. Select the transactions before your opening balance date.
  5. Tap Delete.
  6. Click Yes.

But if you wish to start tracking your bank balance base on the oldest transaction of your register and bank statement, you can manually edit your opening balance entry. To do so:

  1. Go to Accounting.
  2. Find your bank account.
  3. Under ACTION, select View register.
  4. Select your opening balance entry.
  5. Tap Edit.
  6. Enter the correct amount or balance including the oldest transaction in your register.
  7. Click Save and close.

Here's an article you can read to learn more about your transactions in the register: Find, review, and edit transactions in account registers.

 

I've got you this helpful article in case you needed some detailed if you wish to start reconciling your bank account: Reconcile an account in QuickBooks Online.

 

Should you need any additional assistance while managing your bank account balance, you can leave a comment below. I'll be sure to get back to you.

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