how to change closing balance

If the starting balance is incorrect, Jack. QuickBooks can help you identify and resolve the issue.

If you attempt to reconcile and the starting balance doesn’t match the ending balance from the previous reconciliation, QuickBooks will display an alert saying, "Your account isn't ready to reconcile yet. Your beginning balance is off by..." You can then click the "We can help you fix it" link to access the Reconcile Discrepancy Report and begin resolving the issue.

If a reconciled transaction was edited or moved to a different account, here’s how you can correct this:

1. Open the transaction.
2. Click Edit.
3. Make changes to the amount or account as needed.
4. Select Save and Close.

Additionally, if a transaction is deleted, you need to recreate it as shown in the discrepancy report:

1. Click + New and select the form type (invoice, sales receipt, expense, etc.).
2. Fill out the form and click Save and Close.
3. Open the account where the transaction is stored and select Account history.
4. Find the transaction, click it to expand, and check the box in the ✔ column until you see R to reconcile it.
5. Click Save.

If an alert still appears during reconciliation, review the discrepancy report again. The deleted transaction may remain listed, but the difference should be CAD $0.00, meaning it won’t affect reconciliation.

Once all discrepancies are reviewed, the Total Discrepancy Difference should also show CAD $0.00. Then confirm the beginning balance in QuickBooks matches your bank statement. Click Resume reconciling to continue.

If you need anything else, feel free to reply here. We're here to help.