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First Bank Reconciliation in QuickBooks

QuickBooks How To – Reconciling with a Beginning Balance of Zero

A reader wrote to say he'd entered the opening balance for his checking account in QuickBooks using a journal entry. When he opened the reconciliation window for the checking account, the screen shows that the beginning balance is $0. He tried changing the date of the journal entry to a month later than the original entry, but the beginning balance on the reconciliation window was still $0. He says that he's finding it impossible to reconcile his bank account.

The beginning balance you see in the QuickBooks reconciliation window shows you the beginning balance from the last reconciliation, not the balance of your bank register. For the first reconciliation, this would have to be zero. Reconcile the first month by selecting all the transactions that cleared for that month. The ending balance (which should match the ending balance on the statement for that month) will be the beginning balance of the next reconciliation, and so on and so on.

 

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