Under what account type should be the banks current balance?

I'm here to share some details about the discrepancy between your QuickBooks and bank balance, rt.

The bank balance is affected by the added transactions under the For Review tab. Let's manually download the latest data to check and update your account. Here's how:

1. Go to Bookkeeping, then Transactions.
2. Select Bank transactions.
3. Locate the bank account, then click Update.

Also, make sure there are no duplicate transactions. Otherwise, exclude them to avoid any variance.

Meanwhile, the QuickBooks balance is affected by the transactions already categorised and manually entered into the program. I recommend reviewing your register to ensure everything is accurate.

Aside from that, we can also compare the opening balance with your official bank records. I'll show you how:

1. Go to Bookkeeping, then Chart of Accounts.
2. Find the account on your list, then click Account history.
3. Search for its opening balance entry. It should say "Opening Balance Equity" in the Account column.
4. Take note of the balance entry's date and amount.

Once done, sign in on your bank's website or download the statement. Compare the two balances and make changes if needed.

For guidance on selecting the appropriate Account and Detail types, it is advisable to consult with an accountant. They possess the expertise to provide advice on what options to choose. If you don't have one, you can use our Find-an-Accountant tool to look for an expert near you.

Furthermore, it's recommended to review and reconcile your accounts periodically. Doing so ensures that your records are up-to-date and free of errors.

It's my goal to ensure your books are accurate. Please keep me posted if you need additional assistance managing your QuickBooks and bank data. Im always here to help you out.