How do I fix my bank balance which is out by -R166,135.47 due to an old now closed bank account

Knowing that your accounts are accurate and up-to-date gives you confidence in your financial data, info-serenitybus. I want to ensure you have a balanced bank account with QuickBooks.

Ideally, closed bank accounts should not affect your bank balance in QuickBooks Online (QBO). The accuracy of your QuickBooks data depends on how you manage and record transactions. Ensure all transactions in your bank statement are correctly matched in QBO.

Since you're experiencing a negative bank balance, I recommend reviewing all your transactions and comparing them with your actual bank statement. Once you identify any discrepancies, adjust the transactions to correct the negative balance.

Here's how:

1. From the left menu, choose Transactions.
2. Under the Bank Transactions tab, tick the check box for the selected transaction.
3. Click Edit.
4. Enter necessary details.
5. Hit Apply.

Moreover, QuickBooks balance is affected by all your transactions in the register and the ones you haven't reviewed yet. While the bank balance is solely determined based on the transactions on the register.

Additionally, to help you manage your bank transactions, you can read these articles:

• Set up bank rules to categorise online banking transactions in QuickBooks Online.
• Categorise and match online bank transactions in QuickBooks Online.

Don't hesitate to post again here if you have other questions or concerns with QuickBooks tasks and navigations. I'm always around and happy to help. Take care and stay safe!