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Reconciling account

Why does the previous balance show in the cleared balance when I start to reconcile?

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Best answer April 28, 2020

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QuickBooks Team

Reconciling account

Good morning, @dmh48.

 

Thank you for reaching out to the Community. I hope you're enjoying this beautiful day so far.

 

The cleared balance is the beginning balance of the reconcile, and this number will change as you check off transactions until the difference is $0.00. The goal is to make sure your cleared balance "beginning balance" matches the ending balance, "which will be your new beginning balance." Allow me to explain more below.

 

2020-04-28 08_28_31-Window.png 2020-04-28 08_29_10-Window.png

 

In the first image above, you'll see that the beginning balance in my test account is $238,625.29. This means that in my last reconcile, I authorized and cleared this balance. Or if this were my first reconcile, this would mean that this is what's on my bank statement and I know its correct.

 

In the second image, you'll see my cleared balance "my beginning balance of this reconcile because I know that I've cleared this amount in my previous reconcile" you'll notice that my ending balance is $252,625.29. That's a difference of $14,000. Any transactions that you check off will decrease the difference so that you're increasing the cleared balance to match the ending balance.

 

For more details about reconciliations in QuickBooks Desktop, check out: Reconcile an account in QuickBooks Desktop.

 

Please do let me know if you have further questions or concerns. I'll be here every step of the way. You can always reach out to the Community or me anytime you find you need a helping hand. Take care!

View solution in original post

1 Comment 1
Highlighted
QuickBooks Team

Reconciling account

Good morning, @dmh48.

 

Thank you for reaching out to the Community. I hope you're enjoying this beautiful day so far.

 

The cleared balance is the beginning balance of the reconcile, and this number will change as you check off transactions until the difference is $0.00. The goal is to make sure your cleared balance "beginning balance" matches the ending balance, "which will be your new beginning balance." Allow me to explain more below.

 

2020-04-28 08_28_31-Window.png 2020-04-28 08_29_10-Window.png

 

In the first image above, you'll see that the beginning balance in my test account is $238,625.29. This means that in my last reconcile, I authorized and cleared this balance. Or if this were my first reconcile, this would mean that this is what's on my bank statement and I know its correct.

 

In the second image, you'll see my cleared balance "my beginning balance of this reconcile because I know that I've cleared this amount in my previous reconcile" you'll notice that my ending balance is $252,625.29. That's a difference of $14,000. Any transactions that you check off will decrease the difference so that you're increasing the cleared balance to match the ending balance.

 

For more details about reconciliations in QuickBooks Desktop, check out: Reconcile an account in QuickBooks Desktop.

 

Please do let me know if you have further questions or concerns. I'll be here every step of the way. You can always reach out to the Community or me anytime you find you need a helping hand. Take care!

View solution in original post

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