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MikeR-WI
Level 2

Help with reconciliation after merging credit card accounts and now have incorrect beginning balance

I have had the same credit card comprised several times since having it linked with QB and up until today didn't realize I could merge the accounts together. I had been creating new accounts and leaving the old accounts in the system. 

 

I discovered today on how to merge the accounts into one, and did so, however now the beginning balance when going to reconcile the new merged account is incorrect by a wide margin. The accounts that I merged from this credit card spanned approx. 4 years worth of transactions, all of which had been reconciled thru March 2, 2020.

 

I am now looking to resume reconciliation of the new merged account however the beginning balance is now incorrect since merging the accounts. Also since merging it no longer shows a history/record of the reconciliations of the previous accounts.

 

Please advise how I may be able to fix this merging disaster.

 

Thank you.

12 Comments 12
AlexV
QuickBooks Team

Help with reconciliation after merging credit card accounts and now have incorrect beginning balance

Hi MikeR-WI, 

 

When merging accounts, all transactions will remain on the merged account as reconciled. This could be the reason why the beginning balance is incorrect.

 

Please note that this process is reversible. You'll want to check this link for more details: How to merge accounts, customers, and vendors.

 

Also, I noticed that you posted the same concern twice. The first one has been answered already by my colleague. Please check this link: https://quickbooks.intuit.com/learn-support/en-us/banking/help-with-reconciliation-after-merging-cre....

 

I'll be here if you have other questions. Wishing you all the best!

MikeR-WI
Level 2

Help with reconciliation after merging credit card accounts and now have incorrect beginning balance

AlexV, 

 

Thank you for the reply.

 

I have already merged the accounts and it says the merging process is NOT reversible. Do I have an alternate option to get the beginning balance corrected? Do I need to basically start over and re-reconcile the entire account?

 

Thank you for your help.

LieraMarie_A
QuickBooks Team

Help with reconciliation after merging credit card accounts and now have incorrect beginning balance

Thanks for keeping in touch with us here, @MikeR-WI.

 

It seems like a duplicate post. My colleague has already provided an answer for you. Please refer to this link: https://quickbooks.intuit.com/learn-support/en-us/banking/re-help-with-reconciliation-after-merging-...

 

Don't hesitate to drop by here in the Community if you have other questions. I'm always here to help.

sparticles
Level 3

Help with reconciliation after merging credit card accounts and now have incorrect beginning balance

I'm having the same issues... and the link you provided says the following. help please!

Access Denied

You do not have sufficient privileges for this resource or its parent to perform this action.

Click your browser's Back button to continue.

sparticles
Level 3

Help with reconciliation after merging credit card accounts and now have incorrect beginning balance

The link you provided does not work. Please re-paste or paste the 'solution' here.  Thanks

JaeAnnC
QuickBooks Team

Help with reconciliation after merging credit card accounts and now have incorrect beginning balance

Thanks for reaching out to us, @sparticles. Let me reiterate the troubleshooting provided by my colleagues to resolve your issue about reconciling merged accounts in QuickBooks Online (QBO).

 

The reason why you're having issues accessing the link provided by my colleagues is that they have already been archived in the Community forum.

 

When you merge accounts, it's important to remove the opening balance transactions because the balance from the last transaction of the previous period should carry over to the first transaction of the following period. This step should correct the beginning balance when you reconcile.

 

To do that:

 

  1. Go to the Gear icon and select Chart of Accounts.
  2. Locate the account and click View Register.
  3. Find and select the Opening balance entry.
  4. Click Delete, then Yes to confirm.

 

I also recommend visiting this article to review your beginning balance in QBO: Fix issues the first time you reconcile an account in QuickBooks Online.

 

Moreover, QBO generates a reconciliation report every time you finish reconciling. 

 

Feel free to reach out to the Community forum whenever you need further help with reconciliation. Our team is open 24/7 to assist you with your concerns. Take care, and have a good one.

sparticles
Level 3

Help with reconciliation after merging credit card accounts and now have incorrect beginning balance

I am using Quickbooks Desktop 2020.
Is there a link to the archived solution?


Kurt_M
QuickBooks Team

Help with reconciliation after merging credit card accounts and now have incorrect beginning balance

Hello there, @sparticles.

 

Before anything else, can you tell us more about your query? Are you having issues when reconciling inside QuickBooks Desktop (QBDT)? This way, we can provide the necessary steps to help you get through this.

 

Feel free to comment below so we can respond right away. Keep safe.

sparticles
Level 3

Help with reconciliation after merging credit card accounts and now have incorrect beginning balance


Yes, QBDT 2020 pro. 

 

i merged a couple credit card accounts (same credit card account but with two different cards.) note: The credit card account was divided into 2 different accounts because the QB online banking (that QB has discontinued) did that automatically. 

so after merging the accounts now the reconciliations I had previously done are gone. And the beginning balance is off even though it appears that all transactions are in the account. and I don’t know how to reconcile because the beginning balance is wrong.



 

sparticles
Level 3

Help with reconciliation after merging credit card accounts and now have incorrect beginning balance

Yes, QBDT 2020 pro. 

I merged a couple of credit card accounts (same credit card account but with two different cards.) note: The credit card account was divided into 2 different accounts because the QB online banking (that QB has discontinued) did that automatically. 

so after merging the accounts now the reconciliations, I had previously done, are gone. And the beginning balance is off even though it appears that all transactions are in the account. and I don’t know how to reconcile because the beginning balance is wrong.


is there a way I can change the beginning opening balance to $0 for reconciliation!?

 

 

sparticles
Level 3

Help with reconciliation after merging credit card accounts and now have incorrect beginning balance

@MikeR-WI  Did you ever get a solution? Thanks!

Kurt_M
QuickBooks Team

Help with reconciliation after merging credit card accounts and now have incorrect beginning balance

Thanks for getting back and providing more details about your query, @sparticles.

 

Since you mentioned that you have existing transactions, we don't recommend changing the beginning balance to zero when handling reconciliation. Instead, run a reconciliation discrepancy report to review everything you recorded inside QuickBooks Desktop (QBDT). We'll write down the steps to get you going:

 

  1. Access your QuickBooks Desktop company.
  2. Go to the Reports menu. Hover over Banking and select Reconciliation Discrepancy.
  3. Select the account you're reconciling and then select OK.
  4. Review the report. Look for any discrepancies.
  5. Talk with the person who made the change. There may be a reason they made the change. Once you know, edit the transaction as needed.

 

See this page for more details: Fix issues when you're reconciling in QuickBooks Desktop.

 

Once you figure out the cause of the problem and sort it out, you can refer to this page to help you fix the beginning balance and continue the reconciliation process: Fix beginning balance issues in QuickBooks Desktop.

 

Furthermore, you may want to create a backup copy of your company file to keep you secure in case you encounter any error when reconciling the account. Feel free to check this page for more details about backing up your data: Back up your QuickBooks Desktop company file.

 

We're always around if you need further assistance fixing a reconciliation or need help performing specific tasks inside QuickBooks. Don't hesitate to comment below so we can get back to you. Stay safe.

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