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ktarpley
Level 1

How do i change the ending balance of my bank statement i just finished?

 
2 Comments 2
FritzF
Moderator

How do i change the ending balance of my bank statement i just finished?

Welcome and thanks for posting in the Community, @ktarpley.

 

You're referring to changing the ending balance of your reconciled bank statement, correct? If so, this process requires manually unreconciling individual transactions.

 

Before doing so, please note that this can unbalance your accounts and will also affect your beginning balance for your next reconciliation.

 

Let's start by reviewing a previous reconciliation report. Here's how:

 

  1. In QuickBooks Online (QBO), go to the Reports menu at the left pane, then type Reconciliation Report in the search field and press enter. 
  2. Choose the Account you want to view.
  3. Select your preferred date in the Report period drop-down arrow. 
  4. Hit View Report.

 

For more information, consider checking out this article: How to view a reconciliation report.

 

Once done, you can now unreconcile the previous statement and change the ending balance. For further guidance with the process, please refer to this article: Undo and remove transactions from reconciliations in QuickBooks Online.

 

Just in case, I'll add this article for future reference: Learn the reconcile workflow in QuickBooks.

 

Let me know if you have any other issues or concerns by leaving a comment below, and I'll get back to you as soon as possible. I'm always here to help. Have a great weekend!

vpcontroller
Level 11

How do i change the ending balance of my bank statement i just finished?

@ktarpley 

@FritzF 

 

It's fairly easy to edit the opening balance in the bank register.

When you create opening balance, it adds the bank balance and the other side of the entry goes to the Opening Balance Equity account.

 

So, to change the amount or edit the date, from the Accounting tab, select the Chart of Accounts.

  • Find the Opening Balance Equity account.
  • Click View Register at the far right under Action column. 
  • Locate the transaction-related to the specific bank account.
  • Click the Increase amount.
  • Click the Edit link.
  • Bank Deposit screen will open.
  • Edit the bank date or amount as you need (don't delete this).
  • TIP: I prefer to put the ending date rather than the opening date. For example, 12/31/2019 rather than 01/01/2020. In this example, 12/31/2019 is true opening balance and 01/01/2020 is actually ending balance (not really opening balance).
  • Save and close.

Hope this helps!

 

editing_opening_balance.PNG

 

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