Get 50% OFF QuickBooks for 3 months*

Buy now
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Work smarter and get more done with advanced tools that save you time. Discover QuickBooks Online Advanced.

Reply to message

View discussion in a popup

Replying to:
DebSheenD
QuickBooks Team

Reply to message

Hello there, ECHS.

I appreciate you letting us know the results of the steps you've done. I'll help you correct the beginning balance.

We can fix the beginning balance by creating a journal entry.

First, you need to check that there is no opening balance created.

Here's how:

  1. Click the Accounting menu.
  2. Select Chart of Accounts.
  3. Find the account and click View register.
  4.  Search for an opening balance entry.


If there is an opening balance entry, don't go further. Take note of the date and amount. Use your bank statements to make sure the opening balance is correct.
 

Second, If you verified that there is no opening balance. Meaning you don't have an opening balance on that acount. You can now create a journal entry.

Third, Mark the journal entry as reconciled.

Reconciling the journal entry will prevent it from showing up on future reconciliation.

Here's how:

  1. Go to the Accounting menu.
  2. Select Chart of Accounts.
  3. Find the account and click View register from the action column.
  4. Look for the journal entry you just created. 
  5. Select the box in the tick column until you see an R. This reconciles the journal entry.
  6. Click Save.

While creating this, I recommend consulting an accountant to ensure that the reconciliation reports are accurate.

Here's an article you can read through and check on how to view reconciliation reports: View, print, or export a reconciliation report.

I'm always here if you still have questions about reconciliation and or anything else. Have a good one.
 

Need to get in touch?

Contact us