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finance85
Level 1

Help with incorrect beginning balance?

I unintentionally miss read our bank statements which includes our savings balance with the beginning and ending balance. I just now caught the error and need to fix. Please help.
1 Comment 1
DivinaMercy_N
Moderator

Help with incorrect beginning balance?

Hi there, @finance85.

 

If an opening balance doesn't match your bank account, you can edit it in QuickBooks Online (QBO). 

 

Here's how:

 

  1. Go to Settings, then select Chart of Accounts.
  2. Locate the account, then under the Action column and click View register.
  3. Find the opening balance entry. Tip: If you've got the Date column sorted from newest to oldest, the opening balance entry may be at the end of the list.
  4. Pick the opening balance entry.
  5. Edit the amount. Tip: If you're not able to edit the amount directly on this screen, in some cases you can edit by selecting the Edit icon.
  6. Hit Save. Your change will not be saved if you navigate away from the register without saving.

 

To learn more, you can visit this article: Edit an incorrect opening balance

 

Also, to fix an opening balance when reconciling an account in QBO, please see Step 2 of this link for the detailed steps: Fix beginning balance issues during your reconciliation in QuickBooks Online

 

You might also consider reading this helpful article for future reference: Export a reconciliation report. This will also provide you steps on how to view and print a reconciliation report. 

 

Let me know if there's anything else that you need by leaving a reply below. I'm always around to help. Take care always. 

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