How to Resolve Beginning Balance Issue in QuickBooks Desktop?

[rj933296]

Despite being an innovative and robust accounting and bookkeeping software, QuickBooks Desktop often receives errors and bugs. We, in this article, will discuss the beginning balance issues in QuickBooks desktop, which appear when you try to reconcile the account in QuickBooks Desktop. You can perform the solutions provided in this blog post to fix it. You can also contact our certified technicians at 1-800-615-2347 for quick and precise solutions.

 

Steps to fix Beginning Balance issue in QuickBooks Desktop

Correct zero balance issue

This option is unavailable in the Begin Reconciliation window. However, if you are reconciling the account for the first time, you can recreate the opening. You can create a journal entry and do a mini-reconciliation to correct zero balance.

1.       The following steps will help you create a journal entry with the correct date and amount in the Begin Reconciliation window.

·         Go to Company menu.

·         Make General Journal Entries.

·         Choose the correct beginning balance statement date.

·         Select the appropriate account (from the Account drop-down).

·         Enter the appropriate opening balance in the Debit column.

·         Select Opening Balance Equity and Save.

 

2.       Perform a mini-reconciliation to fix the Beginning Balance issue.

·         Go to Banking menu and select Reconcile.

·         Choose the appropriate account from the Account drop-down.

·         Enter the correct statement date and ending balance for your Journal Entry.

·         Select Continue.

·         Go to the Deposits and Other Credits section and select the corresponding Journal Entry.

Note: The amount for the Difference should now be zero.

·         Select Reconcile Now.

 

Read more: beginning balance issues in QuickBooks