How To Correct Zero Balance In QuickBooks
The QuickBooks accounting software is considered as a boon for all small and medium industries. It is incorporated with several third-party applications which will boost your work-flow. QuickBooks is available in desktop as well as online version. You can carry out any transactions through it. There are instances when you want to reconcile an account, so you open “Begin Reconciliation window” .Perhaps you are facing issue like Unable to Reconcile QuickBooks today or this month .
Why 0 Or Negative Balance Appears QB
When you open your account and you see that the “beginning Balance” is displayed as zero or incorrect. It is caused due to the following reasons:
- Damaged Data
- File was converted from a different version of QuickBooks.
- The previous cleared and reconciled transaction was either deleted or modified. There are chances where it may be deemed as void transaction.
- The account which was created does not have any balance (zero balance account).
- You might have entered wrong balance in account. Or QB Balance Sheet Corrupted
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How To Fix QuickBooks Starting Balance Error
Solution: Follow These Steps
If you are reconciling the account for the first time, then you try to recreate the opening balance though this option is unavailable in “Begin Reconciliation” window. But, you can create a journal entry and then perform a mini-reconciliation to rectify it.
Step I: Creating a journal
- Open QuickBooks on your system.
- Go to “Company” menu and select the option “Make General Journal Entries”.
- Change the date according to the “correct statement date” from your beginning balance.
- Go to “Account” menu and click on drop-down menu.
- Choose a suitable account from it.
- In Debit column, enter the correct opening balance.
- Select the account, where you want to credit from the second line.
- Click on “OK” option. To save changes which you have made in the steps mentioned above.
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Step II: Perform a mini-reconciliation
- Open QuickBooks on your system.
- Go to “Banking” menu > Reconcile.
- Choose a suitable account from “Account” option.
- In journal entry, provide the statement data and the ending balance.
- Click on “Continue” option.
- Finally, click on “Reconcile Now” option.
Important Note: The difference in amount should be zero.
Experts Help QuickBooks Opening Balance Incorrect
The solution above will help you in resolving in Zero Balance issue in QuickBooks. If you still have some issue and need assistance from USA QuickBooks Support, then contact “MyOnePro”. They are third-party QuickBooks consultancy who provides QB assistance round the world. They have a team of QuickBooks professionals, who have years of experience in handling all types of QB issues. You can easily contact them by calling on their toll-free customer support numberToll-Free Number +1  . They provide 24*7 support, so you can get in touch with them at any point of time. There are also some other alternatives , to get in touch with them like writing an email to the Online Email Support or requesting for Online Chat support. The QuickBooks expert will immediately get in touch with you and guide you through the resolving process of your issues.