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LorraineMo
July 10, 2023
Solved

Bank balance not updating

  • July 10, 2023
  • 1 reply
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I have a situation where a client's credit card "Bank Balance" (only) has stopped updating.  Transactions are coming through fine and she reconciles to the credit card statement.  

However, the "Bank Balance" value showing in the summary bank is incorrect and has been for several weeks now.  

 

Fortunately, it is just a cosmetic issue, since feed is working.  But do you have any suggestions on what would cause this or how to fix it?

    Best answer by SarahannC

    This reply does not address the stated issue. 

    The bank balance is NOT zero because client is manually importing - it is a negative number and becoming more negative with each manual import.

    Prior to 6 weeks ago, it was coming over correctly from the bank using the same importing procedure.  Nothing in process changed, except bank balance field is showing progressively more negative number.

    There are no issues with the way the client is reviewing, matching, categorizing, excluding, or reconciling account; account is correctly reconciled and matches to actual balance. 

    The issue is JUST the "bank balance" field being wrong.


    I appreciate you for returning to this thread, Lorraine. Allow me to help you this time and provide additional information regarding your bank balance.

     

    Since you're using a third processor with your bank, I recommend contacting Spendtrack support to determine if there is a known problem related to this. They can provide the most up-to-date information and possible solutions.

     

    Additionally, if you keep your credit card account connected to the program while manually importing your data, your bank balance should stay as is. 

     

    I also noticed in your previous message that you mentioned having a plan to delete your account and then link it again. As initial steps to fix it, you can do it since you have no problem matching and reconciling transactions.

     

    Just make sure that your bank transactions are fully reviewed or categorized from the For review tab before disconnecting your bank account. Otherwise, you may run the risk of losing the data that you need.

     

    For more information on this topic, refer to the article: Disconnecting accounts linked to online banking in QuickBooks Online.

     

    Feel free to go back here and ask more if you have further questions regarding bank transactions. I'm here to assist you whenever you need help. 

    1 reply

    JenoP
    JenoP
    July 10, 2023

    Hi there, Lorraine.

     

    Can you tell us the of the bank that's connected in Online Banking? I just want to check if we have an open alert about this in QBO. 

     

    In the meantime, let me share some steps to check if the balance issue is caused by too much cache in your browser. 

     

    Start by switching or using other browsers like Google Chrome, Mozilla, Microsoft Edge, or Safari. They are all compatible with QBO and can help us isolate the issue. Use these keyboard shortcuts on how to do that:

     

    • Ctrl + Shift + N for Google Chrome
    • Ctrl + Shift + P for Firefox
    • Control + Option +P if you're using Safari
    • Ctrl + Shift + P for Microsoft Edge

     

    After that, go back to your account and click the Update button in the upper-right hand corner. This will force QuickBooks to establish a connection with your bank and refresh the Online Banking page.

     

     

    If the balance is already updating, follow the steps in this article on how to clear cached or delete internet files; Clear Cache and Cookies to Fix Issues When Using QuickBooks Online.

     

    Feel free to check out these online banking-related articles in case you need more guidance when using the feature:

     

     

    The Community is always here if you need anything else. 

    L
    LorraineMoAuthor
    July 11, 2023

    Thank you for the suggestions.  

    The credit card account is with Nicolet National Bank.

    It does not appear to be a browser issue -  I cleared cache and pulled up account on Chrome, Chrome incognito, Bing, and Firefox with exact same results.  I don't know what browser client is using, but it is same on hers.

     

    The feed shows "updated 17 hours ago" and does not change when force updated.  I know transactions have come across in the weeks since the Bank Balance figure changed, but there aren't necessarily daily transactions on this account so it is hard to tell if there are items available that have not come over yet.  

     

    My plan today is to delete the feed and re link to see if that fixes it.

     

    Thank you for your help with this.

    L
    LorraineMoAuthor
    July 11, 2023

    I have a bit more info.

    Client's Nicolet National Bank checking account is linked, works fine.

    However, the Nicolet National Bank Credit Card account, which is the problem account, is different:  

    • The processing is through Spendtrack. 
    • Originally, client says it was linked and auto updated.  Then about 6 months ago it stopped updating and since then she has had to go out to the account, create a file, and manually import the file into QBO.
    • Around 6 weeks ago, the "Bank Balance" field was correctly zero.
    • Since then, each import has seen the "Bank Balance" field become steadily more negative (currently -$9,050), which has no relation to the actual credit card balance.
    • The import files have had all of the transactions, the only problem is the "Bank Balance" field.
    • This incorrect field is driving her crazy, despite her understanding that it is not impacting her financial reports and register, which are correct.

    I feel that she cannot be the only one experiencing this problem.  Is it a known issue with Spendtrack?  

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