Bank Reconciliation Discrepancies in QuickBooks Online

I was doing my bank reconciliation when I noticed my opening balance was incorrect. I can’t figure out for the life of me what I’m doing wrong. Please help me!

Asked on December 6, 2018 in Banking.
1 Answer(s)

Hi Danny!

Thank you for posting on our Forum.

Your bank reconciliation could be incorrect due to various reasons. I understand how annoying it could be when you cannot figure out what the problem is. You should be able to solve it with the following steps:

  • Click on the Gear icon at the top of your screen.
  • Below the Settings menu, click on Chart of Accounts.
  • Find your bank account, and select View Register.
  • Find out what the opening balance of the account is.
  • Since this is incorrect, you will need to edit it.

Since the bank account records the opening balance based on how long ago you downloaded transactions, it could also be the incorrect one displayed here, so be careful.

I hope that helped.
Cheers!

Answered on December 13, 2018.

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