QuickBooks Reconcile Beginning Balance Wrong is an error message which appears on the screen when there is beginning balance discrepancy in QuickBooks. This error message occurs due to various reasons like incorrectly entered amount or in case the last reconciled transactions was changed. Issues related to reconciling transactions are rare, and users get confused in solving these issues. But you don’t need to panic as we are here with this blog to guide you about this error message.
In this blog, we will debate why this error message arises and how we can wipe out this particular message. Further, if you need any technical support in resolving errors related to reconciling transactions or any other such errors, then call our QuickBooks experts at our toll-free number 1-855-948-3646.
Common Causes Behind Beginning Balance Discrepancy
- In case the amount or the Account of a last reconciled transaction was changed.
- It also occurs when the last reconciled transaction was deleted.
- The Account or amount of a transaction that was connected to a previously reconciled transaction was deleted or changed.
Example: In case you reconcile your credit card statement, including the previous month’s payment from your chequing account, but, in your chequing account, you unintentionally delete the payment to your credit card, the next time you reconcile your credit card statement, your beginning balance will be less by the amount of the payment.
- This error message also shows up if your Account’s opening balance is not correct,
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Method To Fix an Incorrect Beginning Balance
- To find the transactions causing the discrepancy, Reconcile Discrepancy report: Reconcile Discrepancy report
- Locate your cursor to the Reports menu, then Choose Banking, and then Reconciliation Discrepancy.
- Select the appropriate Account, then click on OK. Now, you will see a list of transactions that were changed since the last reconciliation. Use this report for identifying the transaction/s causing the issue.
- In case you find a discrepancy, write down the transaction date and the Entered/Last Modified, which will give
- you the details about when did the change occur.
- At last, undo a previous reconciliation and repeat the same.
The above process will help you in resolving the error. Try to execute these methods properly.
While summing up, we hope that the information shared by us will be useful for you to remove the error message “QuickBooks Reconcile Beginning Balance Wrong“. In case of any difficulty, call our QuickBooks experts at our toll-free number 1-855-948-3646.
You may read also : QuickBooks Error PS038