i AM SO OUT OF BALANCE AND NEED HELP!

Thanks for reaching out to us, @Darlene 2121.

I'll share the steps on how to correct your bank balance with your QuickBooks balance. There are several reasons why bank balance doesn't match. Below are the following.

• New transactions for a connected account.
• Outstanding transactions.
• Duplicate transactions.
• Edited or deleted transactions.
• Unreconciled in the register or reconciled in error.

To resolve this, you'll want to do the steps below.

1. Review the original opening balance
2. Check your bank statement
3. Match and categorize downloaded transactions
4. Review any discrepancy reports

Want details? Check out this article: Fix issues for accounts you've reconciled in the past in QuickBooks Online.

Once you're done, you'll want to continue with bank reconciliation to compare your bank records with QuickBooks.

I'll around if you still have questions or concerns with bank balance and QuickBooks so don't hesitate to reply. Take care and have a good one.

Thank you so much  @ShiellaGraceA ... the issue I am having is that a bank rec was NEVER done since the company started using QBO. I am also missing all of bank statements from previous years. It looks like they had an accountant come in and do adjustments, just to get through tax season; I should also note that they have only been on QBO for the last quarter of 2019 until present. 

I am kind of picking it apart. I looked today and seen this and I am not sure how to correct this:

The bank deposit is showing as a payment in the bank rec. Am I missing something?

See attached: 

Also, see attached as this is the actual entry.

trying to post the capture, (again)

Thanks for attaching a screenshot, Darlene 2121.

I'm here to share some troubleshooting steps that can help rectify the difference.

Since your bank account has never been reconciled, you'll want to make sure the beginning balance was posted correctly. Most bank balance issues are caused by an incorrect opening balance. Here's how to check it:

1. Go to the Accounting menu.
2. Select Chart of Accounts.
3. Locate the account on the list, then select View register.
4. Search for the opening balance entry. It should have an Opening Balance Equity label in the Account column.
5. Take note of the date and balance.

After that, sign in to your bank's website or find your bank statement. Then, check your bank account's balance for the same day as the opening balance in QBO.

If the opening balance in QuickBooks doesn't match your bank records, you'll have to manually correct it. I'll show you how:

1. Select the opening balance entry to expand the view.
2. In the Deposit column, edit the balance so it matches your bank records.
3. Select Save to confirm the changes.

Aside from the deposit, there might be other transactions that are causing the difference. To further isolate the issue, check the rest of the transactions on the list and then compare the amounts to your bank statement. Take note that you may need to consult your account in correcting them to ensure that everything is accurately recorded.

Lastly, here are some articles that you can browse to learn how to resolve common reconciliation issues and mistakes in the program:

• Fix issues the first time you reconcile an account

• Fix issues for accounts you've reconciled in the past

• Fix issues at the end of reconciliation

Drop me a comment below if you need additional assistance in reconciling your accounts. Stay safe and have a great rest of the day.

Thank you for your help! I would love to be able to do that however, there is no actual balance. (See attached). I am not even sure why this is occurring. 

Ok so I figured out how to get the balance back. This is the first entry posted. It does not say opening balance.