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delouafrica
Level 1

How do I reconcile when my beginning balance shows zero? I do see the opening balance line item in the bank register.

 
4 Comments 4
ReymondO
QuickBooks Team

How do I reconcile when my beginning balance shows zero? I do see the opening balance line item in the bank register.

Hey there, @delouafrica.

 

Thanks for sharing your concern in the QuickBooks Community. Let me help you reconcile your account so you could close your books

 

Did you enter the opening balance when creating the bank account? If so, this should show the amount as your beginning balance once you reconcile your account. 

 

It could be that the Opening Balance Equity entry in your bank register isn't showing as reconciled (). This is the reason why it shows a zero balance during reconciliation. To verify, you can check its status and update it by following these steps:

 

  1. Go to the Chart of Accounts.
  2. Look for the bank account and click View register.
  3. Find the Opening Balance Equity entry, then check its reconciliation status. If the transaction is reconciled, you’ll see an “R.” If not, select the checkbox until its changes the letter in the box to R.
  4. Click Save and select Yes to confirm.

reconcile.PNG

Once your opening balance is correct, you can now reconcile your account. 

 

I've also added this guide to help you fix any reconciliation issues in the future: Learn the reconcile workflow in QuickBooks

 

Keep me posted if you need anything else or if you have any other questions in handling your books in QuickBooks. I'll be here to help. Have a great weekend.

ReymondO
QuickBooks Team

How do I reconcile when my beginning balance shows zero? I do see the opening balance line item in the bank register.

Hi Customer, @delouafrica.


Hope you’re doing great. I wanted to see how everything is going about the beginning balance issue you had the other day. Was it resolved? Do you need any additional help or clarification? If you do, just let me know. I’d be happy to help you at anytime.


Looking forward to your reply. Have a pleasant day ahead!

FF82
Level 1

How do I reconcile when my beginning balance shows zero? I do see the opening balance line item in the bank register.

I see my JE to set up Opening Balance, I even see the R under status but when I go to Reconcile and select the business checking account, the opening balance still shows zero. Any other advice?

Mark_R
Moderator

How do I reconcile when my beginning balance shows zero? I do see the opening balance line item in the bank register.

Hi there, @FF82.

 

Let's get your opening balance issue fixed so you can reconcile your checking account in QuickBooks Online (QBO).

 

You'll want to make sure the date of the opening balance and the reconciliation period is correct. To do so, go back to the Bank register and verify the date of the created JE for the opening balance. If it's accurate, I recommend seeking help from your accountant to guide you on how to correct this issue. If you don't have an accountant, you can find one through this link.

 

Once everything is fixed, you can now proceed with reconciling accounts in QBO. For more guidance, feel free to check out this article for the workflow: Learn the reconcile workflow in QuickBooks.

 

Our doors are always open to help you again if you have any other concerns or follow-up questions on reconciling accounts. Have a good one.

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