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H
hello151
December 8, 2020
Question

My credit card accounts are reconciled but the "bank" and "in quickbooks" balances do not match.

  • December 8, 2020
  • 1 reply
  • 0 views
They are thousands of dollars off so it's not simply a matter of it not being synced with the most recent account info.

1 reply

M
Mark_R
December 8, 2020

Your concern ends here, @hello151.

 

The Bank balance displayed the amount of all transactions from your bank that have been posted or cleared. While the QuickBooks balance is the total balance of all bank transactions that you’ve added or matched to QuickBooks. 

 

Here are the most common causes why the bank and QuickBooks balance doesn't match:

 

  • Outstanding/pending transactions
  • New transactions for a connected bank account
  • Duplicate transactions
  • Edited/Deleted transactions
  • Credit card (liability) account

There are different troubleshooting steps to fix the discrepancy based on what caused it. You can refer to this article, find which one fits your situation, and then follow the solution: Fix issues for accounts you've reconciled in the past in QuickBooks Online.

 

Just in case you want to learn more about some tips for working in QuickBooks bank feeds, you can check out this article for detailed information: Tips for Working in QuickBooks Online’s Bank Feeds: Matching Transactions.

 

Should you need any additional assistance with your bank and QuickBooks balances, I'm available here to help any time!

H
hello151Author
December 8, 2020

Non of these solutions seem right.  One of the balances is more than $45K off.  We are reconciled through the end of last month and there were not that many transactions for this month. 

 

this is for a credit card account

MaryLurleenM
MaryLurleenM
December 8, 2020

Thank you for the additional information, hello151.

 

You'll want to review your opening balance. If an opening balance is incorrect, it will affect all reconciliations. 

 

Make sure your opening balance is correct before checking your beginning balance. Then, move to the next step which is to check your bank statement. 

  1. In QuickBooks, go to the Accounting menu.
  2. Select Reconcile.
  3. Review the account you selected in the Account drop-down menu.

Follow the next steps in this article: Fix issues for accounts you've reconciled in the past in QuickBooks Online.

 

Let me know if you need further assistance.

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