To complete this exercise, you must be in the Sample company. From your QBOA account, click on the Gear icon on the top right corner of the screen, then select Sample company.

Note that you will be logged out of your current account. If you are sure, click "Continue" to confirm. 

This error happened because someone made changes to transactions that had already been reconciled.

To reproduce the error in the Sample company, the first thing we need to do is reconcile. Before we can reconcile, however, we need to process the bank transactions.

For the purpose of this exercise, we are only going to pay attention to Tania's Nursery.

From the left navigation bar, hover over Transactions, then select "Bank transactions".

If any pop-ups appear, just close out of them.

On the Tania's Nursery transaction, in the Action column, click "Match".

Now that we have processed the bank feeds, we'll need to reconcile the account.

Click "Get started".

*Note that you will only see this because it is the Sample company.*

Click "Let's get reconciled".

*Note that you will only see this because it is the Sample company.*

In the Ending balance field, type "157.72". In the Ending date field, type a lowercase "t" to automatically enter today's date.

*Note that normally you would enter the ending date for your bank statement here, but dates are always changing in the Sample company so we will use today's date.*

Click "Start reconciling".

In the far right column of the transaction grid, click the "circle" at the top to select all transactions, then click "Yes, select all" on the pop-up.

Click "Finish now" on the top right corner of the screen, then click "Done" from the pop-up.

Let's take a look at how reconciling affected the register.

Fastandeasyqbo

QuickBooks

QuickBooks is a widely-used accounting software developed by Intuit, designed to simplify financial management for businesses of all sizes. It provides a user-friendly platform for tasks like invoicing, expense tracking, payroll processing, and generating financial reports. QuickBooks automates many financial processes, making it easier for businesses to monitor their financial health, prepare taxes, and manage cash flow. With its various versions and integrations, QuickBooks caters to the needs of freelancers, small businesses, and larger enterprises, offering a flexible and comprehensive solution for efficient accounting and financial management.

app.qbo.intuit.com

fastandeasyqbo.com

Scenario: Craig received his most recent credit card statement and started to reconcile his account. When he went to the reconcile screen, however, he received an error message that said, "Your account isn't ready to reconcile yet. Your beginning balance is off by -$240.55."

How did this happen, and what can Craig do about it? 

Let's take a look at how we can help.

4.5 Troubleshooting Beginning Balances

Getting Set Up