How to get rid of Negative Balance while Reconciling in QuickBooks Desktop?

I am trying to reconcile my bank account in QuickBooks but it shows a negative balance in the reconciliation screen. Please help me how would I resolve this?

Asked on January 2, 2019 in QuickBooks Desktop.
1 Answer(s)

Let me share some information’s on how to resolve a negative balance when you reconcile your bank account in QuickBooks.

There are couple of reasons for a negative balance when you do a reconciliation in QuickBooks Desktop. Some of them are listed below:

  • If you are reconciling for the very first time in QuickBooks, either you have not entered a beginning balance initially or you might have entered an incorrect balance.
  • You might have accidentally voided, removed or edited the past reconciled transactions.
  • It could be a File Integrity Issue in QuickBooks Company File.

To resolve these issues, please follow one of the below steps:

  • If you are reconciling for the very first time in QuickBooks, enter the beginning balance for the account OR if it is showing an amount other than zero than make sure you change it to the correct balance.
  • If the past reconciled transactions are been voided, removed or edited than view the discrepancy reconciled report.

This report will tell you the transactions which were changed since last reconciled.

  1. Go to Reports menu – BankingReconciliation Discrepancy.
  2. Select an account you wish to see the discrepancy
  3. Verify the report to find any discrepancy.

 

If you still not able to figure out any issues in the previous reconciliation and have not made any changes in it, then there could be a file integrity issue in the company file. Please verify and rebuild the data to find any damages in the QuickBooks Company File.

If you are still unable to find any discrepancy or any data issue, then please call our QuickBooks Support.

Answered on February 12, 2019.

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