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LizD2
Level 1

Opening Balance Changed

I attempted to do last months bank rec but the opening number was not the same as on my bank statement. 

I make sure these are reconciled to the penny. 

 

I went back to the report for the very first month, four years ago, and there is an opening balance for the first month when it should be zero.

There isn't a general journal that changed this or an account entry in the register. 

Help?

15 Comments 15
Maybelle_S
QuickBooks Team

Opening Balance Changed

Hi @LizD2.

 

There are several factors why QuickBooks balance doesn't match with your actual bank balance.

 

Balances may not match for several reasons:

  • Outstanding transactions
  • New transactions for a connected account
  • Duplicate transactions
  • Edited or deleted transactions
  • Credit card (liability) account

To fix this, we'll have to verify why they don't match first. You can check this article to find out the recommended fix for the mentioned reasons: How to Fix Differences Between QuickBooks Balance and Bank Balance.

 

We can pull up your reconciliation discrepancy report to check what caused the issue. Here's how:

  1. Go to the Reports menu, then hover over Banking.
  2. Select Reconciliation Discrepancy.
  3. Click the account you're reconciling, then hit OK.

If you’re still having problems with mismatched problems, you may also read these articles for further help:

I'm just a few clicks away if you have any additional questions. Have a great day!

LizD2
Level 1

Opening Balance Changed

I have had this account for four years. I have reconciled it each month. 

In searching for what went wrong I went back to the opening balance to check that. 

 

It should be zero. Then I made my first deposit of 800.00 so the opening balance is zero with one deposit. Instead now it says the opening balance is -$3768.42 which makes no sense. It says that when I run a report, banking, then reconciliation report that the beginning balance is the negative number above. 

 

I can't see where that number comes from. It is not from the register, it is not from a general journal entry. 

 

Where is the beginning balance being pulled from?

 

MaryLandT
QuickBooks Team

Opening Balance Changed

Let's find the beginning balance, LizD2.

 

The beginning balance may have been downloaded when you first set up bank feeds in QuickBooks. That's why you can see that information on your first reconciliation period.

 

You can locate the opening balance information on your financial institution's statement using either the paper copy you receive in the mail. Or access your bank account through the bank's website. Then, use the last statement you received before your QuickBooks start date.

 

If you're still unable to find the information, I highly suggest contacting our financial agency. They can provide the data for you.

 

Check out the Opening balances page to match the real-bank account with the transactions in QuickBooks Desktop.

 

Keep me posted on how this goes by commenting below. I'm always around to help.

 

Thank you and stay safe!

LizD2
Level 1

Opening Balance Changed

Thank you for trying to help me. 

 

I got the opening balance which was 0, in May of 2016. Now it says -3768.42. I didn't change this, nor is there an entry. I enter everything manually so I don't link to the bank in any way. 

 

Interesting when I pulled a reconciliation report that is from the original bank rec, there is a zero balance. Then i get the number negative number when I run the other reconciliation report. So, something has changed but I don't see where. I combed through all journal entries and all accounts.

 

I am ready to pull my hair out..... ugh.  Help?

 

IamjuViel
QuickBooks Team

Opening Balance Changed

Let me help you sort this out, @LizD2.

 

First, let's run your Reconciliation Discrepancy report. This way, we would now whether there are changes made to your transactions list that may have caused the incorrect beginning balance.

 

Here's how:

  1. Go to the Reports menu.
  2. Select Banking.
  3. Choose Reconciliation Discrepancy.
  4. Pick the appropriate Account.
  5. Click OK

Once you find the discrepancy, take note of the transaction's date and the Entered/Last Modified, which will tell you when the change occurred. Now, let's view your QuickBooks Audit Trail report. This way we'd know who made the changes in your accounting transaction and any additions, deletions, or modifications that affect it.

  1. Go to the Report menu.
  2. Scroll down to Accountant and Taxes.
  3. Pick Audit Trail.

Once you're able to determine the changes made into your transactions list, you can now resolve your beginning balance. You can either delete a transaction or re-enter it.


Lastly, I'd suggest consulting with your accountant to make sure that you're assisted accurately in resolving the beginning balance of your account.

 

Keep me posted if you have other questions about reconciling your account in QuickBooks. I'm just a few clicks away.

LizD2
Level 1

Opening Balance Changed


@IamjuViel wrote:

Let me help you sort this out, @LizD2.

 

First, let's run your Reconciliation Discrepancy report. This way, we would now whether there are changes made to your transactions list that may have caused the incorrect beginning balance.

 

Here's how:

  1. Go to the Reports menu.
  2. Select Banking.
  3. Choose Reconciliation Discrepancy.
  4. Pick the appropriate Account.
  5. Click OK

Once you find the discrepancy, take note of the transaction's date and the Entered/Last Modified, which will tell you when the change occurred. Now, let's view your QuickBooks Audit Trail report. This way we'd know who made the changes in your accounting transaction and any additions, deletions, or modifications that affect it.

  1. Go to the Report menu.
  2. Scroll down to Accountant and Taxes.
  3. Pick Audit Trail.

Once you're able to determine the changes made into your transactions list, you can now resolve your beginning balance. You can either delete a transaction or re-enter it.


Lastly, I'd suggest consulting with your accountant to make sure that you're assisted accurately in resolving the beginning balance of your account.

 

Keep me posted if you have other questions about reconciling your account in QuickBooks. I'm just a few clicks away.


 

LizD2
Level 1

Opening Balance Changed


@IamjuViel wrote:

Here's how:

  1. Go to the Reports menu.
  2. Select Banking.
  3. Choose Reconciliation Discrepancy.
  4. Pick the appropriate Account.
  5. Click OK

 


@IamjuViel 

I don't have this report as an option, "Reconciliation Discrepancy"

It it not an option in the drop down menu. 

 

:(

Jovychris_A
QuickBooks Team

Opening Balance Changed

You'll specify an account first on the list when you click the Reconciliation Discrepancy option before you can pull up its reconciliation discrepancy report, @LizD2.

 

Once you have chosen the account and clicked OK, the Reconciliation Discrepancy report will show.

 

You can then follow the steps provided by IamjuViel.

 

I also suggest consulting for an accountant when you'll make some adjustments in the reconciliation report to match your bank records.

 

Keep me notified by leaving a message to this post if you have more questions. I'll be happy to help. Stay safe and healthy!

LizD2
Level 1

Opening Balance Changed

hi

 

 

When I go to the drop down for reports, then go to banking... I get four options:

deposit detail, check detail, missing checks, previous reconciliation. 

 

There is not an option for reconciliation discrepancy. 

MaryAnn_E
QuickBooks Team

Opening Balance Changed

Hi there, @LizD2.
 
There's another way to pull up the Discrepancy Report through the Accountant menu and the search field on your QuickBooks Desktop. Let me walk you through the steps on how to do it.
 
Here’s how:

  1. Go to the Accountant menu.
  2. Select Reconcile.
  3. On the Begin Reconciliation window, click Locate Discrepancies option. locate D SC.PNG
  4. On the Locate Discrepancies window, choose the Discrepancy Report

DR SCcccc.PNG

 

Also, you can find the report on the search bar and type in Discrepancy. Then you can click the Locate menu option to be routed on the report. See the screenshot below for a reference.
 

sc sample.PNG


I've included articles that will guide you in fixing common reconciliation issues in QuickBooks Desktop:

I'll be around if you need anything else.

LizD2
Level 1

Opening Balance Changed

I have the 2016 version. My screen does not look like this. 

I have searched on discrepancy report and it says it doesn't find anything. 

I don't have an Accountant dropdown, I have banking. 

 

What I'd like to know is where that number is being pulled from?

 

Rejeil_O
QuickBooks Team

Opening Balance Changed

Thank you for posting here in Community @LizD2,

 

The number of the opening balance is being pulled when you edit a transaction that is already reconciled or when the transaction is created and manually reconciled to the bank register.

 

To fix your opening balance, I recommend contacting an accountant and assist you with your concern. Also, it would be best to upgrade your QuickBooks Desktop 2016 by contacting our QuickBooks Support team since it is already an unsupported version and ask for assistance in checking the issue on your account.

 

If you need further assistance, feel free to leave a message in the comment section. I'm always here to help.

LizD2
Level 1

Opening Balance Changed

They won't look at the issue. 

 

Sadly my CPA who is awesome, knows less about Quickbooks than I do. 

 

I was in a chat yesterday that went so slowly. I can't type and wait five minutes for a response. I will buy the new version. But now how is it going to convert....

 

 

Ryan_M
QuickBooks Team

Opening Balance Changed

Hi @LizD2,

 

I'm here to share some steps as to how you're able to convert your QuickBooks Desktop (QBDT) 2016 company file to the most recent 2020 version. 

 

You'll have to download a trial version of QBDT 2019 since that's the latest version you can convert your current company file, then install it.

 

To proceed with the upgrade, go with these steps:

 

  1. Open your QBDT 2016 app.
  2. Open your current company file.
  3. Run the Rebuild data tool. This prepares the company file for the upgrade.
  4. Next, open your QBDT 2019 app. 
  5. Select Open or Restore Company.
  6. Search for the 2016 company file on your computer.
  7. Sign in your company as an admin user.
  8. Tap Update Now to proceed with the upgrade.
  9. Click Done when finished.

You can follow the same steps above to upgrade the 2019 company file to the most recent 2020 version. If you continue to have issues, feel free to contact our Technical Support team for assistance.

 

Here's how:

 

  1. On your QuickBooks homepage, go to the Help menu.
  2. Choose QuickBooks Desktop Help.
  3. Tap the Contact us button.

 

Additional details on the service discontinuation of QuickBooks Desktop products can be found in this article: QuickBooks Desktop service discontinuation policy and upgrade information. This has a list of common questions as to why Intuit discontinues service for older products. 

 

Post a comment below if you have other questions. I'll be happy to help.

LizD2
Level 1

Opening Balance Changed

So, I have gone back..

 

Open Balance Equity is not the problem. 

Going back to an older file dec 5 is fine, I can get to a balance of zero. Something happens between then and now. 

Thoughts?

I am still stumped. 

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