just migrated from one quickbooks online to another account and can't reconcile

Thank you for joining the Community, Audrey.

Allow me to share some tips on how to handle your transactions after switching to a new QuickBooks Online account.

That's right. You can enter/add an opening balance to match it with your old checking account. Since the opening balance summarizes all of your old transactions, you don't have to enter them at all. Simply leave your opening balance alone and begin documenting future transactions.

However, if you decide to add your older transactions, you have to edit the opening balance and the date. This changes the account's starting point, so QuickBooks doesn't count transactions twice.

To edit your opening balance:

1. Go to Bookkeeping or Accounting, then Chart of accounts.
2. Find and select the account.
3. In the account register, look for the opening balance entry. It should be labeled Opening Balance Equity with "Opening Balance" in the Memo column.
4. Log in to your bank’s website. Set your account so you can see the balance for the new date you want to use for the opening balance in QuickBooks.
5. Go back to QuickBooks. Select your opening balance entry.
6. Edit the opening balance so the date and amount match your bank records for the day you choose.

Here's a link for the complete details in reconciling transactions that are older than your opening balance in QuickBooks Online.

I'd also recommend reaching your accountant to make sure your books are accurate. They can also give your other option in managing your old transactions

Use this article if problems occur during your first reconciliation: Fix issues the first time you reconcile an account in QuickBooks Online. Or this resource if you've already reconciled the account: Fix issues for accounts you've reconciled in the past in QuickBooks Online.

Let me know if you still have follow-up questions or need help with anything else. I'll be here checking the comments. Have a great weekend!

Hi Archie,

Unfortunately this does not solve my problem.  If I select the register for the checking account, I can't find an opening balance equity. However there is an Equity Register and in that register there is an opening balance equity for the checking account (it is a negative number).  If I follow the instructions in the article below and enter an opening balance equity in the checking account it affects the financial reports for our church (it increases our overall equity).  I'm lost. Is there someone I can speak with about this? Thank you.

Hello there, @Audrey.

I appreciate you for trying the steps suggested by my colleague.

You're on the right track in locating your opening balance equity.

However, if the amount reflected is incorrect, we need to edit it.

What you need to do first is to check your bank statement and make sure that it matches the correct amount and date of the opening balance of the previous account. Then we can start editing the opening balance equity by following the steps provided by my colleague and proceed to reconciling it.

And for the old transactions, we can consider excluding them and deleting those that got included in your new register. I recommend consulting with your accountant to ensure your records are in tip-top shape. Here's how you exclude the transactions:

1. Go to Menu ☰ and select Transactions.
2. Choose Review transactions.
3. Click the transactions to exclude, then select the trash can icon.
4. Select Confirm.

You can follow these steps on how to delete the transaction:
 

1. Go to Accounting, and select Transactions.
2. Select All Sales then locate the transaction.
3. In the Action column, choose the dropdown and click View/Edit.
4. If you want to include the date and reason you’re voiding or deleting the transaction, enter that info in the Memo or Message section. Then select Save.
5. Select More in the footer. Then select Void or Delete.
6. Select Yes to confirm.

You may visit this article if you need help doing or fixing a reconciliation: Learn the reconcile workflow in QuickBooks.

The Community always welcomes you for further inquiries with regard to the opening balance and transactions. Have a great day ahead!

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@Audrey Smith wrote:

We just migrated our church account from one online Quickbooks account to another online Quickbooks account. 

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@Audrey Smith 

Did you try to duplicate data from one QBO account to a new QBO account? How did you do that?

Thanks for this.  (and sorry for the delayed reply, I've been away).  I'm the volunteer auditor and not that familiar with accounting procedures so I'm reluctant to do anything that will have consequences downstream. We opened an account with Tech Soup as we are a nonprofit and followed their instructions to copy our existing account to the new one and all of the numbers align. Two things did not come over: the reconciled transactions (there are over 10 years worth so it's not worth doing manually) and the custom reports we had developed.  If I manually enter the opening balance equity in the checking account, it affects the overall balances in other accounts in our financial statement (we're using 178 accounts to keep everything straight).  When I followed the instructions to add the opening balance equity in the checking account it affected the overall financial statements for our organization which had previously been correct.  While one of the178 accounts is called Opening Balance Equity, there is no open balance equity in the checking account.  Should I be making this notation in the Opening Balance Equity account or in the Checking account?  And if, as is the case here, if there is no transaction labeled Opening Balance Equity do I create it?  Sorry for all of this confusion--I'm stumped! Thanks for your help.

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@Audrey Smith wrote:

We opened an account with Tech Soup as we are a nonprofit and followed their instructions to copy our existing account to the new one and all of the numbers align. Two things did not come over: the reconciled transactions (there are over 10 years worth so it's not worth doing manually)

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I'm not sure what kind of instructions they ask for duplicating your data. I believe if they were confident to give specific instructions, they should also had the experience to solve any problem. Have you tried running the Trial Balance reports for both QBO accounts and comparing them? Last resort, consider purchasing a third-party migration service.