There is major confusion here! Hoping someone can help.
I undid all reconciliations (that had been correct to the date I did them, sometime in 2022) to go back and check on some things.
Since I have done this, the opening balance, or 'closing bank statement' when no transactions are selected, is showing -871.51, though this was not an issue before when I was going through the reconciling. What could be the cause of this?
Hi burns,
Thank you so much for your post and welcome to the Community Forum!
My apologies for the late response. When reconciling an account, you should input the closing balance from the bank statement into the "Closing bank statement balance" field and specify the statement date in the "Bank statement closing date" field. The statement date can be any date following the previous reconciliation, giving you the flexibility to backdate reconciliations if needed.
As you select transactions, the "Calculated closing balance" will dynamically adjust to display the anticipated closing balance of the statement, considering the transactions marked as cleared in the list.
This help article has detailed information on bank reconciliations: Reconciling your bank accounts
Regards,
Earl
