One of the Account in QuickBooks has a wrong beginning balance

I am trying to reconcile my bank account but getting wrong amount in beginning balance. Everything was fine last month. Can anyone help me?

Asked on June 12, 2018 in Banking.
1 Answer(s)

Well, in this case, I would suggest you check the bank register and last month’s reconciliation report. Look for any transactions that might have been modified, deleted, or added after you reconciled.

In order to identify discrepancies, follow the below steps:

 1: From the Reports menu, Click on Banking and then choose Reconciliation Discrepancy.

 2: Select the bank account, click Ok

 3: Review the report and identify with your bank account.

 4: Find if any check is missing or you can run missing check reports under the same banking section.

 5: Check the Audit Trail report to know if any transactions have been recently modified or deleted off the previous month

 6: Re-enter or correct any deleted or modified transactions

In case the above steps do not help you solve the problem, you might have to Undo the Reconciliation of the previous month and redo it. Alternatively, you can also enter an adjustment however you should consult to a Certified QuickBooks ProAdvisor before you do it.

Answered on June 16, 2018.

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