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Hello all
I would like some assistance in reconciling a Credit Card account for the first time. The beginning balance on bank statement is $0.00. And the beginning balance in Quickbooks Online is $408.62 (please see attached).
I did some research on other posts and it directed me to enter a journal entry, I did this by entering one for $0 and then proceeded to mark as reconciled. But this did not change the beginning balance.
What can I do to fix the beginning balance?. Please keep in mind this is the very first time reconciling this particular account. I would really appreciate some guidance on this.
I know a way to correct the beginning balance, daisydays22.
Creating a journal entry is one way of fixing the beginning balance of an account. Entering zero ($0.00) on the journal entry doesn't change the beginning balance. You can delete it to avoid confusion on your register.
Meanwhile, we can go to the account register to correct the opening balance amount. Here's how:
You can also use this link for reference: Fix beginning balance issues during your first reconciliation in QuickBooks Online.
After that, you can go back to the Reconcile page and review the opening balance amount. Then, you can continue reconciling the account.
Let us know how this goes so we can further assist you in reconciling the account. Have a great day!
I would really appreciate any help with this.
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