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March 17, 2024
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Prior to QuickBooks online, all of my checking subaccounts would add up to the balance of the overall checking account in QB desktop. Why don't they equal now?

  • March 17, 2024
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Best answer by AdonL

Hello there, tcr4ever39. I'm here to add further insights regarding the totals of your sub-accounts and main checking account. 

 

I want to add to what my colleague said: the totals of sub-accounts may not match the total balance of the parent account.

 

The variance you're getting could be due to transactions recorded only on the main account but not under the sub-accounts. To confirm, open your main account(mother account) and sub-account registers and compare. This way, you could see what specific transaction matched the amount of the variance.

 

Since all the balances of your sub-accounts are correct, there may be transactions recorded in the parent account. I recommend reviewing it by accessing the General Use Checking account View register. Here's how:

 

  1. Go to the Transactions menu and select Chart of Accounts
  2. Choose the parent account. Then, click View Register
  3. Check if there are other transactions recorded in the main account that add up the balance

 

You can also use the Audit log feature in QuickBooks Online (QBO) to see if someone entered additional transactions or made any changes to your books.

 

To learn what to do if QuickBooks Online doesn't match your bank statement at the end of a reconciliation, check out this article: Fix issues at the end of a reconciliation in QuickBooks Online

 

Please let me know if you have further questions regarding your account balances. I'd be happy to help. Stay safe!

1 reply

March 17, 2024

Good day, @tcr4ever39. I'd be glad to share insights about account balances in QuickBooks.

 

Once you create subaccounts, their total balances are added to the overall bank balance of the parent account. However, the totals of subaccounts don't equate to the complete balance of the parent account. This is because transactions posted within parent accounts are also added to their total balance. This can be the reason why you its total doesn't equate to the total balances of your subaccounts.

 

To check, I'd suggest opening the parent's account bank register and review each transaction. This will help us identify the possible cause of discrepancy in your account. Simply go to the Transactions menu and select Chart of accounts. Then, look for the parent account and click View register

Once done, you can make any necessary corrections to correct the total balance of your parent account. You can also reach out to your accountant to help review your books in QuickBooks.

 

I've also added this resource about managing default or special accounts in QuickBooks: Manage default and special accounts in your QuickBooks Online chart of accounts

 

Please let me know if you have additional queries about balances in your Chart of accounts in QuickBooks. I'm always here to help. Have a good one.

March 17, 2024

Hi ReymondO,

I am a bit confused as I used to be able to add up the balances of all of the subaccounts and their total would equal the overall total of the account. 

For example, I have a General Use Checking account that has a balance of 35,670.56 according to QB Online which is comprised of 3 subaccounts, which have balances of $0, $3,054.05 and $32,681.99 which total $35,736.04 which is $65.48 greater than the balance of the General Use Checking account balance. Unclear as to why these 3 accounts do not balance with the overall account balance.  I just completed my reconciliation with my February bank statement and it reconciled.