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Level 1

Fixing the beginning balance on the bank reconciliation screen

Hi, can you tell me how to fix the beginning balance on the bank reconciliation screen?  Below is what happened.  Please note that I'm using the QB Desktop Premier Nonprofit Edition.  Thank you for your help.

1. I was working on the bank rec for June 2018, when I noticed that I was off by $50 because an automatic debit into our bank account has not been entered.

2. I pressed ESC and went to Write Check to enter $50 with a transaction date of 6/8/2018.

3. I went back to the bank rec but I couldn't find the $50 entry.

4. I went to the Vendor Center to look for the entry and discovered that it was checked off as Cleared.  I deleted the entry (I know I shouldn't have done this.) and re-entered the $50 transaction.

5.  My second entry showed up as an unreconciled item, but the beginning bank balance (as of May 31st) was overstated by $50.

6. I ran the Reconciliation Discrepancy report, and it showed the 6/8/2018 $50 entry with a Type of Deleted.

7. I did an Undo Last Reconciliation to see if the beginning balance would get corrected, but it is still off (as of April 30th) by the same amount.

8. Should I keep going with the Undo Last Reconciliation?  What are the chances that it would work when the Reconciliation Discrepancy report shows that the problem has a date of 6/8/2018?   

1 Comment
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Level 15

Fixing the beginning balance on the bank reconciliation screen

Ignore the Beginning Balance. That value is the net of all previously cleared transactions. You've made a bit of a mess for Status, such as Recreating and/or Working in the register. Just Ignore it. Your goal is always the Ending Balance.

 

For all you know, that was the Wrong entry, as well. What matters is that, when you chose to Leave the reconciliation, the entry you made had to show by date, and the Discrepancy Report is Changes, not Errors.

 

All you need to do is confirm all of the right entries are there, and then Reconcile to the known ending balance, clearing anything you Re-created or otherwise impacted its previously Cleared status.

 

Do Not bother to Keep Undoing Last. It isn't worth working that hard.

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