reconciliation issue

Hi there, @vgraft. I'm here, and I'll ensure you can get through this so you can proceed to reconcile an account in QuickBooks Desktop (QBDT).

To get through this, we'll have to verify if you have missing transactions in your account. You can use the bank statement you downloaded from your bank as a reference and compare it to the transactions you have in your bank register in QuickBooks Desktop. If we determine that you have a transaction you haven't entered or recorded in your QBDT, you can recreate it to fix the discrepancy.

Once everything is good, you can proceed to do a reconciliation. To begin, here's how:

1. Go to the Banking menu, then select Reconcile.
2. In the Account field, select the bank or credit card account you want to reconcile.
3. The Statement Date is automatically filled in. Usually, it's 30 or 31 days after the statement date of the previous reconciliation. Change it as needed to match your bank statement.
4. QuickBooks also automatically enters the Beginning Balance. It uses the ending balance from your last reconciliation to get this number.
5. Enter the Ending Balance based on your bank statement.
6. Enter the Service Charge and Interest Earned based on your bank statement. Don't enter charges you've already entered in QuickBooks.
7. Review the fields. If the info is correct, select Continue or OK.

Refer to this article for more information about reconciling an account in QBDT: Reconcile an account in QuickBooks Desktop.

Additionally, I've got you this article for more information about the reconciliation workflow in QBO: Learn the reconcile workflow in QuickBooks.

@vgraft, know that you can always get back to me anytime if you need further assistance reconciling an account in QuickBooks. You can also post here again if you have any additional QuickBooks-related concerns. I'll be more than happy to help you out again. Take care, and have a good one!

Thank you for the reply!  Your answer solved part of my problem, as I wasn't entering the ending balance.  However, I still may have an issue.

So, the account I'm attempting to reconcile was a new account we started using around mid-April 2021.  When the business switched to the new account, I set it up in QB as a new primary account and entered the beginning balance as of the date we began using it.  I have precisely entered all deposits and payments/checks since that time, which has been double-checked for accuracy.  When I begin the reconciliation process, the box where I enter the Ending Balance from the bank statement doesn't give me the option to enter that opening balance. It says the beginning balance is 0.00, which implies I have reconciled this account before, which I don't think I have done before.

Not sure I'm explaining this with enough detail for you to help....  Moral of the story is to NOT get behind on reconciling!

I should clarify that the new account was already i use as a secondary account that was not tracked in QB, so there was an existing balance of ~$17,000 already in there, which I set as the opening balance.

Going back and forth is never easy, @vgraft. I'm here to ensure you're able to reconcile the account with ease.

Make sure that the opening balance is accurate in your account register. There shouldn't be any balance left in the Opening Balance Equity account. Follow these to check:

1. Open the Lists menu.
2. Click on Chart of Accounts.
3. Look for and access the Opening Balance Equity account.
4. Review the account balance. It should appear as 0.00.

In case the balance isn't showing 0.00, add the remaining balance. Here's how:

1. Click on Reports and choose Company & Financial.
2. Choose Balance Sheet Standard.
3. Click the Dates dropdown, and pick Last Fiscal Year.
4. Navigate to the Equity section, and review the Retained Earnings balance.
5. Compare last year's Retained Earnings balance with the remaining balance in the Opening Balance Equity account.

You can proceed if they match up. Everything is in sync. If not,  I recommend getting in touch with your accountant. They are experts at restoring balance to your accounts.

Lastly, perform a mini-reconciliation to add or edit transactions you've previously reconciled. 

I'll attach these handy articles about handling reconciliation in QuickBooks:

• Enter opening balances for accounts in QuickBooks Desktop
• Fix beginning balance issues in QuickBooks Desktop

Please let us know if you have other concerns with banking. You can also include queries about the software (QuickBooks) in general. Keep safe.