Banking

I appreciate you for joining the Community, @Val47.

Let's work together to fix your beginning balance so you can reconcile your account in QuickBooks Desktop (QBDT).

First, let's run either Reconcile Discrepancy, Audit Trail, or Previous Reconciliation report to identify transactions that cause the error. 

Next, let's correct the discrepancy. To do that, we might need to edit or re-enter the transactions. We can either:

• Undo a previous reconciliation and redo it

1. Let's create a backup of your company file.
2. Go to the Banking menu and click Reconcile.
3. Click Undo Last Reconciliation.
4. When a prompt appears, click Continue and select OK.
5. Close out of reconcile and reopen.

• Ignore the discrepancy and let QBDT enter an offsetting adjustment

1. Go to the Accountant menu and select Reconcile.
2. Choose the Account. Enter an Ending Balance and fill out other necessary information.
3. Click Continue.
4. Click Reconcile Now. When prompted with a discrepancy, select Enter Adjustment. QBDT will create a Journal Entry under a special expense account called Reconciliation Discrepancies.

For a more detailed guide on how to correct your beginning balance, you can refer to this article: Fix beginning balance issues in QuickBooks Desktop.

If everything looks good, you can get a head start on payroll. Here's a guide on what you'll need to do to close out the previous year and prepare for the new one in QBDT: Year-end guide for QuickBooks Desktop.

Please keep me updated if you need further assistance with reconciliation by leaving a reply below. I'll be more than willing to provide help. Stay safe!