cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
NEW Connect to DBS IDEAL direct bank feeds Click here
mikswah
Level 1

I have bad starting balance on a statement I already reconciled - I do not recall changing anything and there is nothing displayed on the discrepancy report. Anyone have a suggestion of what to do?

 
1 Comment 1
MadelynC
Moderator

I have bad starting balance on a statement I already reconciled - I do not recall changing anything and there is nothing displayed on the discrepancy report. Anyone have a suggestion of what to do?

I’ve got you covered, @mikswah.


When reconciling an account, you can review the beginning balance in QuickBooks Online. This way, starting balance amount matched what's on your bank statement.


Before that, verify your opening balance first to ensure it’s correct. The opening balance is the starting point for accounts in QuickBooks. If it’s incorrect, it affects all following reconciliations. You can follow these instructions if you need to correct the numbers.

 

  1. Go to the Gear icon, then select Chart of Accounts.
  2. Locate the account, then go to the Action column and select Account history.
  3. Find the opening balance entry. If you've got the Date column sorted from newest to oldest, the opening balance entry may be at the end of the list.
  4. Select the opening balance entry.
  5. Edit the amount.
  6. Click Save.


Please know that you’ll want to unreconcile the account before you make corrections. You can also reach out to your accountant for further assistance. This way, they can give you advice about this.


You can visit this reference to learn more about the causes of balance issues and how to resolve them: Fix issues for accounts you've reconciled in the past in QBO.


I’ll be right here to help if you have other questions or concerns about reconciliation. Just add a comment below. Always take care!