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drivinius
April 11, 2025
Question

After completing the bank reconciliation, the sub/class accounts for my checking account do not match the total in the parent checking. I cannot figure out how to fix?

  • April 11, 2025
  • 1 reply
  • 0 views

Parent is $234.68 less than total of the sub/class accts.

1 reply

A
Aldren18
April 11, 2025

Let's get this discrepancy between your parent checking account and its subaccounts sorted out, Drivinius.

 

The parent account balance should ideally equal or exceed the total of its subaccounts, as its total balances include all transactions recorded directly in it plus the combined balances of its subaccounts.

 

Since the parent checking account balance is less than the total of the subaccounts, I recommend running a report for the parent account to verify any entries causing the reduced balance. This will assist in identifying valid transactions and ensuring accurate records to explain discrepancies. If these transactions are correct, no further adjustments are necessary.

 

Here are the detailed steps to run your parent checking account:

 

  1. Navigate to the Transactions menu from the left navigation panel.
  2. Go to the Chart of Accounts and locate the parent checking account
  3. In the View register dropdown beside it, select Run report.

 

Reviewing this report will help you spot any transactions recorded only in the parent account or misclassified between the parent and subaccounts.

 

To further empower you to manage your bank transactions effectively in QBO, I’ve compiled these guides that will help you navigate various features and ensure your financial records are always up-to-date:

 

 

I'm willing to lend a hand again if you have other concerns or questions about handling these accounts in the program. Drop a Reply to this post or create another one. I'm here to assist you and will respond promptly to any inquiries you have.

D
driviniusAuthor
April 11, 2025

Aldren 18.  Thanks for your response.  I did run the report and everything is correct.  I also read the two links you attached.  I am already aware of these processes.  I am pretty sure that something weird happened when we migrated to online,   Everything was correct prior to the migration.  There must be a way to decrease the gymkhana class amount by $234.68 without without effecting the parent checking account.  I appreciate any assistance you can provide,  

    FishingForAnswers
    FishingForAnswers
    April 11, 2025

    @drivinius  Just to verify, when you say you ran the report, were you checking specifically on the parent-specific entries rather than what flows into the parent from the subaccounts?

     

    I admit I'm speaking entirely from Desktop experience, but what you're describing sounds exactly like what I'd expect if a parent credit card account had charges or payments applied directly to it rather than one of its child credit card accounts.

     

    That is, it basically works like (Balance of Child A) + (Balance of Child B) + Direct entries into Parent account = Balance of Parent account.

     

    "There must be a way to decrease the gymkhana class amount by $234.68 without without effecting the parent checking account."

     

    The balance of the parent account is directly affected by the activities in its child accounts, so I don't think there is a way to decrease a child class without affecting what it flows into.

     

    Of course, it's also possible that the migration royally borked your books as they so often do, and you're stuck until Intuit's customer service unborks them.

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