Fix A Bank Reconciliation Beginning Balance - QB Tutorial

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This video builds off of my last 3 videos:
-What is Undeposited Funds?: • What is "Undeposited F...
-Are you doing bank recs wrong?: • Are You Doing Your Ban...
-A/R vs Undeposited Funds: • A/R vs Undeposited Fun...
AJ Stockwell is a licensed CPA and the owner of Learn Bookkeeping Today LLC and Climb CFO LLC. He is a small business accounting and finance expert with a passion for sharing high-quality informative content for:
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-Business owners who want to better understand their numbers or improve their accounting processes and controls.
-CPAs who are looking to bring even more value to their clients and streamline/update their processes.
What sets me apart is the fact that I have been in the shoes of all 3 of these groups. This channel is going to explore a wide variety of topics related to these areas.
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[@saadmustafa5245]

Your videos are truly great. Please continue creating this nuggets and jewels.

[@mafidelapascual5115]

Thanks AJ Stockwell❤️😚so helpful

[@glenw.3813]

Thank you! Video idea. Let’s say you have potential new client who has NEVER reconciled his CC statements. He only wants you to reconcile for the past 3 years., Jan 2019. QBO beginning balance will either have $0.00 or the Opening Equity balance or something else. Regardless, QBO does not match the beginning balance on CC statement. So how do you get the beginning balance to match CC statement so as to move forward reconciling? I don’t know what is proper procedures. Thank you.

[@raymondkenney3197]

When is your CFO Services course coming out?

[@muinmdugommd6434]

uick question: when reconciling my business checking account, QB tells me that one tansaction ws deleted, which is a credit card payment from the checking account. But that transaction is there and reconciled in the checking and credit card ledger! Any explanation?

[@LearnBookkeepingToday]

This is a fantastic question, and I think I'll make a video about it next week. Keep an eye out for that! What likely happened is you imported the credit card payment from the both the checking account's feed and the credit card's feed, but they were entered as 2 separate transactions rather than being matched together.
When you reconciled the checking account, you cleared the payment imported from the checking account feed.
When you reconciled the credit card, you cleared the payment imported from the credit card feed.
Then post-reconciliation, the duplicate was discovered and the transaction cleared in the checking account was deleted.
If you push past the opening balance error to start reconciling the checking account, I bet you will see the payment in there, uncleared. Marking it cleared will get you back to neutral ground in terms of where you want the starting balance to be, and then you can continue reconciling as normal.