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What to do with a transaction that occurred prior to my opening balance?

I have a transaction (see attached image) that occurred prior to my opening balance for QB.  I am not able to reconcile it as it actually appeared on my last statement in 2017.  However, it was used in the reporting for 2018, so I don’t want to just delete it.

 

I believe I need to make some sort of adjustment that will cancel it out.  How is this done?

Solved
Best answer 03-04-2020

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QuickBooks Team

What to do with a transaction that occurred prior to my opening balance?

Good day, jeljeljel,

 

Thank you for providing a screenshot. You can leave the transaction that occurred prior to the opening balance on your register since you don't want to delete it. 

 

On the other hand, making adjustments to your books can affect the balance of your previous reconciliations. I suggest consulting your accountant first. He/She might have specific instructions before making any changes in QuickBooks Online (QBO).

 

If you still want to adjust your entry, the following steps will guide you through the process:

  1. Select Accounting from the left menu, then choose Reconcile.
  2. Reconcile your account.
  3. Select Finish now from the drop-down menu.
  4. Confirm the Adjustment date.
  5. Select Add adjustment and finish.
  6. Click Done.

To locate the entry, use the Search function to see all reconciliation adjustments. Check out the Find previous reconciled adjustments for instructions and detailed steps.

 

I've added these handy articles for additional information about making adjustments in QuickBooks:

Once done, you can start reconciling your bank accounts in QBO.

 

Should you need additional information, feel free to click the Reply button below. I'm always glad to help you out.

View solution in original post

1 Comment
Highlighted
QuickBooks Team

What to do with a transaction that occurred prior to my opening balance?

Good day, jeljeljel,

 

Thank you for providing a screenshot. You can leave the transaction that occurred prior to the opening balance on your register since you don't want to delete it. 

 

On the other hand, making adjustments to your books can affect the balance of your previous reconciliations. I suggest consulting your accountant first. He/She might have specific instructions before making any changes in QuickBooks Online (QBO).

 

If you still want to adjust your entry, the following steps will guide you through the process:

  1. Select Accounting from the left menu, then choose Reconcile.
  2. Reconcile your account.
  3. Select Finish now from the drop-down menu.
  4. Confirm the Adjustment date.
  5. Select Add adjustment and finish.
  6. Click Done.

To locate the entry, use the Search function to see all reconciliation adjustments. Check out the Find previous reconciled adjustments for instructions and detailed steps.

 

I've added these handy articles for additional information about making adjustments in QuickBooks:

Once done, you can start reconciling your bank accounts in QBO.

 

Should you need additional information, feel free to click the Reply button below. I'm always glad to help you out.

View solution in original post

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