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sbornst6011-veri
Level 1

Recently my quickbooks desktop was migrated to QBO. I am unable to reconcile for the first time and the opening balance is incorrect.unable to change with journal entry.

no success with multiple attempts with journal entry
1 Comment 1
Rasa-LilaM
QuickBooks Team

Recently my quickbooks desktop was migrated to QBO. I am unable to reconcile for the first time and the opening balance is incorrect.unable to change with journal entry.

Hello there, sbornst6011.

 

I appreciate all your efforts in trying to correct your opening balance. Let's edit the amount for your opening balance to match your bank records. I'm here to help ensure the process is a breeze for you. 

 

Here's how:

 

  1. Go to the Accounting menu on the left panel and choose Chart of accounts.
  2. From there, look for the bank or credit card account and click the View register link to see all transactions.
  3. Search for the opening balance amount. It should have "Opening Balance Equity" in the Account column.
  4. Click the amount to expand the view.
  5. In the Deposit column, edit the balance so it matches your bank records.op.png
  6. Click the Save button to keep the changes. 

 

Here's an article that discusses in detail how to resolve the opening balance discrepancy: Fix issues the first time you reconcile an account in QuickBooks Online.

 

After performing these steps, you can start reconciling your account. I want to make sure you have the tools and resources you need to get acclimated to the features and processes in QBO. These links contain a list of topics and tutorials that will show you how to carry out each task:

 

 

Reach out to me again if you have other reconciliation concerns or questions about QBO. I'll get back to help and make sure you're taken care of. 

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