I was doing a bank reconciliation and kept getting an out of balance figure of $950.23.
I have found that this negative balance is in my chart of accounts, it appears in 1-1100 (bank accounts) & 1-1110 (business bank account 1) as a negative and 1-1171 (electronic clearing) as a positive.
Is there any way I can get this back to zero?
I'm new to this and inexperienced so any help would be appreciated.
Thanks
Hi jd98
Thanks for your post.
This help article is very useful to learn more about out of balance accounts: Fixing out of balance bank reconciliations. Once you have narrowed down what transaction caused the out of balance you can fix this.
To start I would recommend checking for transactions in Banking>>Prepare Electronic payments, it seems like that transaction hasn't been processed.
You could also check your linked accounts: Accounting>Manage linked accounts to see if your electronic clearing account has been linked correctly. Read more about this here: Managing linked accounts.
Let me know if you still have questions after reading these help articles.
