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Why is my QuickBooks Online beginning balance off after deleting a reconciled transaction, and how do I fix it?

Forum|Forum|3 years ago
December 20, 2022
6 replies
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I needed to delete an incorrect transaction; but it had already been reconciled. Now my bank beginning balance says it is out of balance. I tried re-entering the transaction, which balanced the beginning balance, but I really need if off the register/ deleted

QuickBooks Online

Best answer by cody_a

Deleting a transaction that was already reconciled changes the ending balance of that old reconciliation, and that's what's throwing off your beginning balance now. The fix isn't to re-enter the transaction or edit your opening balance directly. Instead, QuickBooks Online has a built-in report that shows you exactly what changed and helps you correct it.

Step 1: Open the Reconcile Discrepancy Report

Go to All apps, then Accounting, then Reconcile.
Select the account from the account dropdown.
You'll see an alert that reads something like "Your account isn't ready to reconcile yet. Your beginning balance is off by...". Select We can help you fix it.

This opens the Reconcile Discrepancy Report, which lists what changed since your last reconciliation, when it changed, and how it affected your balance. Since you deleted a reconciled transaction, it should show up here.

Step 2: Review and fix each change

Check the What happened column to see what changed and when.
Select Review in tray for more detail, or the dropdown next to it and then View History for the transaction's full history.
Follow the suggested fix in the tray, or make your own correction based on your bank records.

You can bring the deleted transaction's balance back in line by marking a transaction as reconciled again in the account register, or by reconciling the account again using the same ending date and ending balance as your last reconciliation. Reconciling again is the better option if you want the change to show up on a reconciliation report.

Step 3: Check for anything the report doesn't catch

If the report comes back clear but your beginning balance is still off, there are two more places to look:

Deleted or voided transactions: go to Settings, then Audit log, and filter to the account and the period since your last completed reconciliation.
Transactions reconciled outside of a normal reconciliation: go to Accounting, then Chart of accounts, select View register for the account, and filter by reconcile status. Look for anything marked R dated after your last completed reconciliation.

Once everything's accounted for, the total discrepancy will show $0.00 and your beginning balance will match your bank statement, so you're all set to reconcile again.

Learn more:

Let us know if anything's still not adding up and we'll help you dig further.

E

Ethel_A

QuickBooks Team

Welcome to the Community, @jklandry.

I'm here to share information about fixing reconciliation errors in QuickBooks Online,

Editing reconciled transactions can cause discrepancies in your previous and next reconciliation balances balance. Remember that even little adjustments can put make your accounts out of balance. You can unreconciled one transaction at a time to lessen the impact. I advise getting in touch with an accountant so they can assist you in handling the reconciled transaction and prevent messing up your accounts.

When you know which transaction you need to change, here is how to edit and unreconciled the transaction:

Go to Bookkeeping or Accounting, then select Chart of accounts.
Find the account that has the reconciled transaction. Then select View register.
Locate the transaction. If the transaction is reconciled, you’ll see an “R” in the checkmark ✔ column.
Select the transaction to expand the view.
In the checkmark ✔ column, choose the box with the “R” until the box is blank. It removes the transaction from the reconciliation.
Click Save.
Close the account register.

Once done, try to reconcile the new month and check if there are any other issues. If there are any discrepancies, you can check this article to help you fix them: Fix issues for accounts you have reconciled in the past in QuickBooks Online.

Let me know if there is anything else I can assist you with about Reconciliation. Add a comment below, and I will be sure to get back to you.

J

jklandryAuthor

Thank you Ethel, problem is I deleted the transaction already, but it had been reconciled. (apparently I should have addressed the 'R" at that time but didn't). So it is not a transaction in my register currently. I do need it deleted, but need to correct the reconciliation problem as it is making my beginning balance off. thanks

A

Anonymous

Thanks for getting back, @jklandry.

My colleague above is correct. Once you make changes to the transaction that has already been reconciled, this will cause discrepancies in the entire reconciliation. Since you mentioned that you had deleted this as you needed. I recommend you undo reconciliation as a whole. This way, you can start over with reconciling this and re-enter the new beginning balance excluding the transaction you are referring to.

If you have an accountant that uses QuickBooks, you can let them undo your entire reconciliation. QuickBooks Online Accountant (QBOA) has the option to do this at once. However, if you prefer to do it by yourself, you can follow the steps below:

Go to the Accounting menu. Then select Chart of Accounts.
Find the account and select View register.
Review the check column. If the transaction is reconciled, you’ll see an “R.”
Tick the box and keep clicking it until it's blank. It removes the transaction from the reconciliation.
Select Save. Then close your register.

Once done, you can edit the opening balance to enter the correct one. Here’s how you can do that:

Go to the Chart of Accounts.
Look for the account and press View register.
Find the Opening Balance Entry. It should have an Opening Balance in the memo column.
Tap this to expand the details. Then, click the Edit button to make changes.
Edit the amount and click Save.

That should give you a fresh start on the reconciliation once you have the correct opening balance. You can proceed to reconcile your account again.

Moreover, I still recommend you get in touch with your professional advisor. This is to ensure that your books are accurate. Also, to avoid messing up your books.

Feel free to comment if you have more concerns about reconciling your account. The Community always has your back. Have a good one!

cody_a

Answer

Community Manager