When opening the begin reconciliation window and selecting an account to reconcile, it might happen that the beginning balance is either zero or incorrect. This can be due to a couple of reasons. If you are also facing any such issue, then reading this write-up till the end would definitely make some sense.
However, if you aren’t comfortable in performing the set of steps manually in order to troubleshot the beginning balance issues in QuickBooks Desktop, then talking to our support team will also work. You can call us using our support number. Our team of professionals will ensure to provide you with immediate support services.
Following are the advanced steps to resolve beginning balance issues in QuickBooks desktop:
You can correct a zero balance by recreating the opening balance. The option of recreating is not available in the begin reconciliation window. However, you can create a journal entry and do a mini reconciliation to correct it. The steps to be performed are as follows:
You need to create a journal entry using the correct date and amount you wish to see in the begin reconciliation window
Head to the company menu and select make general journal entries
Change the date to correct statement date of the beginning balance
Select the appropriate account from the account drop down
Enter the correct opening balance in the debit column
Select opening balance equity
Choose save tab
Perform a mini reconciliation to correct the beginning balance in the begin reconciliation window
Move to the banking menu and also choose reconcile
Choose the appropriate account from the account drop-down
Enter the statement date and ending balance that match the journal entry
Hit continue tab
Now, in the deposits and other credits section, choose the corresponding journal entry
Note: The amount shown for the difference should now be zero
Choose reconcile now tab
You can correct edited, deleted, or cleared transactions by running the report below:
Reconcile discrepancy report
Audit trail report
Previous reconciliation report
Once you are thorough with the set of steps above, it would be easy for you to fix the beginning balance issues in QuickBooks. Just in case you are unable to fix the beginning balance issue in QuickBooks even after performing the steps above, then in that scenario, connecting with our QuickBooks error support geeks using our helpline 1-800-615-2347 is recommended.