QuickBooks users sometimes encounter problems when they try to start reconciling their accounts. These problems can be caused by incorrect balances in the account or recent changes made to the account. This article provides simple solutions to help you fix beginning balance issues in QuickBooks Desktop. So, continue reading until the end for helpful tips.
The methods to fix the zero balance error in QuickBooks Desktop are:
Solution 1: Fixing the zero balanceTo start, you need to recreate the opening balance and then proceed with reconciling the account.
Step 1: Creating a Journal entry- Go to the Company tab and select Make General Journal Entries.
- Correct the statement date in the beginning balance.
- Choose the account from the Account dropdown menu.
- Enter the correct opening balance in the Debit column.
- Select Opening Balance Equity.
- Click Save.
Here is a step-by-step guide to correct the beginning balance:
- Go to the Banking tab.
- Select the Reconcile option.
- Click on the Account dropdown and choose the correct account.
- Enter the statement date and ending balance correctly, matching the Journal Entry.
- Click Continue.
- Navigate to Deposits and Other Credits and select the Journal Entry.
- Make sure the amount displayed for the difference is zero.
- Then, proceed to the Reconcile Now button.
