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erik4
Level 1

How to fix an incorrect beginning balance for reconciliation

 
1 Comment 1
MarshallA
Intuit

How to fix an incorrect beginning balance for reconciliation

Hello,

 

Your beginning balance is the sum of all your transactions that are already marked as reconciled.

 

If you've been reconciling and now for some reason the beginning balance is incorrect, you should go back and see whats changed.  Has an item been marked with an R in the register or had the R removed?  Has an item that was previously reconciled been deleted, etc.

 

If this is the first time you're reconciling, you want to look at the very first dated item in your register and make sure it matches for a beginning balance on the 1st statement you're reconciling against.  If it doesn't match, then you can adjust the amount of the first dated transaction and then start your reconcile with that first statement.

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