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We recently changed our QuickBooks program. When we reconcile our bank account to the beginning balance in QuickBooks, the bank balances are all zero. How can we fix it?


Expert Michael Lim's Answer:

You should be able to convert the 2008 file to 2010; this will update the QB file with no loss in information.
However, if you started a fresh file, you will come up with a zero balance on all bank accounts when you go to reconcile it. To fix this, you will need to go to the Accounts list and edit each bank account.
It will give you an option to input a beginning balance; you can then put the ending balance of the last reconciled statement.

Michael Lim, CPA


16 yrs experience

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128 Ans.