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Level 2

I cleaned up all of my entries in my qbo for an account. Now qbo beg and end balance in register matches bank statement. I go to reconcile, it says beg bal is out?

 
3 Comments
Level 11

I cleaned up all of my entries in my qbo for an account. Now qbo beg and end balance in register matches bank statement. I go to reconcile, it says beg bal is out?

@GAL 

 

"I cleaned up all of my entries in my qbo for an account. Now qbo beg and end balance in register matches bank statement. I go to reconcile, it says beg bal is out?"

 

The beginning balance is out question.

Without full review, it's not easy to answer. But I would suggest looking into:

1) If you're reconciling this 1st time and showing the beginning balance, I would look into the "Opening Balance Equity" entry in the Equity Register. Check the DATE of that entry. Make sure it's not a later date than 1st posted transaction date.

2) Even though the beginning balance is out, Click Resume reconciling button just to see the difference. Is it zero difference or some actual reconciling difference?

 

I hope this helps!

 

 

Level 2

I cleaned up all of my entries in my qbo for an account. Now qbo beg and end balance in register matches bank statement. I go to reconcile, it says beg bal is out?

No, it was not the an opening balance issue.

 

QBO viewed the imported trx from the bank as withdrawals. I 'added' them before I realized they should be designated transfers.  I went in and deleted the withdrawals, added them as transfers. I reconciled that month and it was fine.  Next month it shows bb off?  Does QBO 'remember' those initial imported trx or adjusted trx and save them somewhere and they pop up again when I go to reconcile then next month?

 

Are there rules for things you can't do without them resurfacing?   Thanks.

QuickBooks Team

I cleaned up all of my entries in my qbo for an account. Now qbo beg and end balance in register matches bank statement. I go to reconcile, it says beg bal is out?

Thanks for getting back to us, @GAL.

 

The possible causes of beginning balance issues could be someone edited, deleted, moved, unreconciled a transaction, or manually reconciled a transaction. It won't show up for review and can't be added to future reconciliations.

 

I'm here to help fix your beginning balance in QuickBooks Online.

 

To begin, make sure your opening balance is correct. If it’s incorrect, it affects all of your reconciliations.

 

Then, check your bank statement to make sure you're reconciling the right account.

 

  1. Go to the Accounting menu.
  2. Select Reconcile.
  3. Review the account you selected in the Account drop-down menu.

 

After that, match and categorize all of your downloaded transactions before you start reconciling. Leaving any unreviewed will affect your opening balance. 

 

Once your opening balance is correct, you can start reconciling again

 

For the transactions that you already deleted, it won't affect the next reconciliation.

 

You can also check out these articles for more detailed information:

 

Also, you may want to consider setting and using banking rules for downloaded transactions to automatically categorize transactions from your bank.

 

If you have further questions in reconciling accounts, please feel free to reach back out. I'm always here to help.

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