Monday, February 27, 2012

Reconciliation shows zero in QuickBooks


I entered my entire new bank account's transactions for the month and when I went to do the bank reconciliation, the beginning balance is zero.  It had a beginning balance when I entered the original journal entry to start my new company in QuickBooks.  What did I do wrong?

Nothing, actually.  You just have to reconcile the beginning balance entry to get started:



Enter the beginning balance of the new account as your ending balance


Clear the opening balance transaction (usually on the deposit side).



Once the initial deposit entry is reconciled, you are now all set to do the month's bank reconciliation.

That is really all there is to clearing that initial transaction for your new or newly entered checking account.


Courtesy of our colleague Lynda Artesani, Certified QuickBooks ProAdvisor in SW Florida


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