Thanks for coming back, Lhorie27.
Yes, we need the beginning and ending balance when reconciling your bank accounts. If you're reconciling an account for the first time, we'll need to review the opening balance. Where it needs to match the balance of your real-life bank account for the day you decided to start tracking transactions in QuickBooks Online (QBO).
When connecting your bank and credit cards to online banking, QBO automatically downloads transactions and enters the opening balance for you. You don't need to worry about the opening balance. Here's an article you can refer to for more details about reconciling an account in QuickBooks Online.
Also, when you start a reconciliation, you enter the ending balance from your bank statement. QuickBooks uses this to check for accuracy. Make sure you entered the correct amount. Here's how:
- While you're reconciling an account, in the Reconciliation window, select Edit info.
- Review the Ending balance and Ending date.
- Check your bank statement. Make edits as needed.
- When you're done, press Save.
Just in case QuickBooks Online doesn't match your bank statement at the end of reconciliation, follow the steps in this article to troubleshoot the issue: Fix issues at the end of reconciliation in QuickBooks Online.
Feel free to visit our Banking page for more insights about managing your company's income and sales transactions.
Do you need more help completing other tasks in QuickBooks? Please let me know and I'll assist you with some guides and other pointers. Have a great day.
