Once a user starts with the ‘Begin Reconciliation’ window selects an account meant to reconcile, what comes into observation is that the beginning balance is either ‘0’ or incorrect. This problem is might occur as a result of the cleared and reconciled transactions being void, deleted or modified earlier. It often displays an error dialog box with a message “QuickBooks Reconcile Beginning Balance Wrong” appearing on the screen. It could also appear in case if any data suffered damage.
On the contrary, if a user still finds it difficult to tackle the “QuickBooks Reconcile Beginning Balance Wrong” error code every now and then, you may reach out to us for any technical assistance on our toll-free 1.800.579.0391 for a promising piece of advice.
Various Causes of QuickBooks Reconcile Beginning Balance Wrong issue
- Either a user entered ‘no balance’ at the time when the company accounts were structured for the first time.
- Earlier reconciled and cleared transactions of the company were either void, erased, or manipulated.
- The company file which has the issues has been converted from one version to another version of QuickBooks Desktop.
- Another reason could be the data has suffered a serious damage.
As we have read through the various causes, we should now discover possible solutions to be adopted to get rid of the issue under the next heading of our blog.
Solutions for QuickBooks Reconcile Beginning Balance Wrong error resolution | Step by Step
Solution-1: Correction of Zero ‘0’ Balance
Step-1: Opening Balance to be recreated
A user is reconciling for the first time, you are required to recreate the opening balance though there is no alternative of recreation in the ‘Begin Reconciliation’ window. You may still create a journal entry and followed by mini-reconciliation for correction.
- Create a journal entry with the help of correct date and amount that a user wishes to see in the ‘Begin Reconciliation’ window.
- Go to the ‘Company’ menu, then click ‘Make General Journal Entries.’
- Correct the date to the right statement date of your ‘Beginning Reconciliation Balance.’
- On the first line, you need to choose the applicable account from the ‘Account’ drop down.
- Type the corrected opening balance in the debit column.
- Go to the second line, select ‘Opening Balance Equity’
- Select ‘Save.’
Read Also – Quickbooks Error Code H505
Solution 2: Fixing Incorrect Balance
Step-1: Amend the edited, erased or cleared transactions.
If a user is attempting to locate the transactions causing variations, one is advised to execute these reports mentioned below:
Reconcile Discrepancy Report:
- Locate and click on the ‘Reports’ menu go to ‘Banking’ > ‘Reconciliation Discrepancy.’
- Make choice of the ‘Account’ applicable here. Then click ‘OK’. Here, a list of transactions appears which were altered since reconciled last time. Make use of it to investigate transactions which are causing the issues.
- In case you locate differences during scrutiny, please be advised to note down the ‘Transaction Date’ and the ‘Entered/Last Modified’, which states the time when the change occurred.
As we arrive at the end of this blog on QuickBooks Reconcile Beginning Balance Wrong, we strive to respond to your query and fulfill your needs in our post. However, if you still can’t make your way through the problem, do call us our helpdesk toll-free number 1.800.579.0391 and get prompt assistance.