Quickbooks Desktop: Account Reconciliation beginning balance not matching the Account Register

PaxMondo · ‎August 16, 2021

The beginning balance as shown in the Account Reconciliation does NOT match the value in the Account Register. This is an internal Quickbooks miss-match, not an issue with the bank statement.

The account in question has been in use for several years. I was completing some monthly data entry, it all looked good initially. however I went back a couple of hours later and discovered the huge error. I removed reconciliations hoping to find the error in a recent month, but alas not. The error is in the beginning reconciliation balance.

I have run both of the utilities: Verify Data and Rebuild Data.

The discrepancy is large. The account register has the correct beginning value of 1000.00. The reconciliation is showing over 18,000.00. I realize that I could put an offset to fix, but then I will have to fiddle with the reports forever. Obviously, I have broken something, but I can't find it. Ideas before I go to a prior backup ... (lose about 1 months work).

thought/suggestions?

JasroV · ‎August 16, 2021

I'll help you fix your beginning balance issue, @PaxMondo.

Before anything else, I admire you for performing some steps to isolate and fix the issue. Allow me to provide additional insights on how to get around and resolve this.

Beginning balance issues in QuickBooks Desktop (QBDT) may be due to one of the following reasons:

No balance or an incorrect balance was entered when the account was set up.
The file was converted from a different version of QuickBooks.
Previously cleared and reconciled transactions were voided, deleted, or modified.
And possible data damage

To isolate this, let's run your Reconcile Discrepancy report and locate what causing the discrepancy. I'll show you how.

Go to the Reports menu an select Banking.
Click Reconciliation Discrepancy.
Choose the appropriate Account, then select OK.
Use this report to identify the transaction/s causing the issue.
If you've located the discrepancy, note the transaction date and the Entered/Last Modified, which will tell you when the change occurred.
Edit or re-enter the transaction to correct the discrepancy.

You can also run your Audit Trial report to locate what causing the discrepancy. To be guided, you can check out this article that contains details on other ways to solve this inconsistency: Fix beginning balance issues in QuickBooks Desktop.

I'd also suggest working with your accountant for additional guidance. This way, we can ensure your account is well accounted for after making these changes. If you don't have one, you can visit our ProAdvisor page and look for one from there.

Once everything is in place, feel free to read this link for reference in reconciling your accounts flawlessly: Learn the reconcile workflow in QuickBooks.

Keep me in the loop if you desire more assistance with reconciling your account. I'll be around more than happy to lend you a helping hand. Have a good one and stay safe!

View solution in original post

JasroV · ‎August 16, 2021

I'll help you fix your beginning balance issue, @PaxMondo.

Before anything else, I admire you for performing some steps to isolate and fix the issue. Allow me to provide additional insights on how to get around and resolve this.

Beginning balance issues in QuickBooks Desktop (QBDT) may be due to one of the following reasons:

No balance or an incorrect balance was entered when the account was set up.
The file was converted from a different version of QuickBooks.
Previously cleared and reconciled transactions were voided, deleted, or modified.
And possible data damage

To isolate this, let's run your Reconcile Discrepancy report and locate what causing the discrepancy. I'll show you how.

Go to the Reports menu an select Banking.
Click Reconciliation Discrepancy.
Choose the appropriate Account, then select OK.
Use this report to identify the transaction/s causing the issue.
If you've located the discrepancy, note the transaction date and the Entered/Last Modified, which will tell you when the change occurred.
Edit or re-enter the transaction to correct the discrepancy.

You can also run your Audit Trial report to locate what causing the discrepancy. To be guided, you can check out this article that contains details on other ways to solve this inconsistency: Fix beginning balance issues in QuickBooks Desktop.

I'd also suggest working with your accountant for additional guidance. This way, we can ensure your account is well accounted for after making these changes. If you don't have one, you can visit our ProAdvisor page and look for one from there.

Once everything is in place, feel free to read this link for reference in reconciling your accounts flawlessly: Learn the reconcile workflow in QuickBooks.

Keep me in the loop if you desire more assistance with reconciling your account. I'll be around more than happy to lend you a helping hand. Have a good one and stay safe!

PaxMondo · ‎August 17, 2021

JasroV,

I have done/looked at all of these things, but they do not address my issue.

Reconciliation discrepancy reports are blank.

Audit Trail Report shows the transactions that I reversed correctly, I'm not seeing anything that looks off.

The fundamental problem is that the Account listing is correct, it has the correct entries and starting balance. The Account reconciliation has a starting balance that I cannot trace down. So, how does this occur? Meaning, it would seem to me that any error in the reconciliation should be reflected in the account listing ... where/how is QB storing additional data?

MirriamM · ‎August 17, 2021

Hello again, PaxMondo. Thanks for getting back and keeping us updated.

I'm here to ensure you're able to reconcile successfully.

To start, I recommend manually reviewing the Bank register. There might be transactions reconciled manually, as it will affect the Reconciliation balance but will not show in the reconciliation history. You may also need to do month by monthly comparison on your bank statement. To do so, you may consider reaching out to your account for further assistance. If you don't have an accountant yet, you can have one. You can find an accountant near your place through this link: https://quickbooks.intuit.com/find-an-accountant/.

You may refer to this article about how to Reconcile accounts. You may also wish to check out Fix issues when you're reconciling in QuickBooks Desktop article on how to fix an incorrect balance.

If you have further questions about QuickBooks, feel free to reach out to me again. I'll be here to help you out. Have a great day.

PaxMondo · ‎August 17, 2021

Mirriam,

Thanks for the quick response and suggestions.

When I say the Account listing, I am referring to the Account Register.

I have removed all reconciliations from the account, all the way back to day 1 of the account. The starting balance in the reconciliation is ~18,000. The Account Register is correct with a starting balance of 1000.00.

If there a no postings with dates prior the start, I am at a loss to find the issue. I have manually compared the Account Register to the Bank Statements for the first 12 months and they match perfectly. I have also looked for Journal entries, there is only one and for 75.00. A manual reconciliation would show as a Journal entry, correct?

Is it possible for a later transaction to impact the starting balance? If so, how? Knowing the how will help me find the issue.

Appreciate the assistance and feedback.

Tori B · ‎August 17, 2021

Hey there, @PaxMondo.

Thanks for following up with us and sharing additional details.

I recommend contacting our support team so an agent can review your account securely and screen share with you to help find the cause of the discrepancy. Once the cause has been discovered, I would reach out to your accountant as mentioned by my colleague above. This way, your accountant can provide the right guidance on how to handle the discrepancy.

Here's how to connect with support:

Open QuickBooks.
Go to Help, then select QuickBooks Desktop Help.
Click on Contact Us.
Give a brief description of your issue, then select Let's talk, and then choose a way to connect (Chat, Callback, Etc.).

Please let me know if you have further questions or concerns. Take care and have a wonderful day ahead!

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Quickbooks Desktop: Account Reconciliation beginning balance not matching the Account Register