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A
Arif3
August 23, 2022
Question

QBO Sample Company Bank Feed Balance

  • August 23, 2022
  • 1 reply
  • 0 views

In the sample company, the bank feed is always at -$3,621.93.

 

But when the 25 transactions in the list are cleared (by matching & adding), the QBO balance is -$544.02.

 

Why is there a variance? The sample company is to teach people who are new to QBO, so it seems like the Bank balance & QBO balance should match up and reconcile when all the transactions are cleared, but the two balances are very far from each other. I don't understand why?

1 reply

S
SarahannC
August 23, 2022

Hello there, Lava.

 

I'll provide information that helps you understand how bank balance and QuickBooks balance work in QuickBooks Online.
 

There are reasons why we get different amounts for QuickBooks balance and bank balance.

 

It could be that there are outstanding transactions, new transactions for a connected account, duplicate, and edited or deleted transactions. Note: QuickBooks balance also depends on the added or matched transactions. While the bank balance will occasionally alter when there are new transactions from the bank.

 

If this happens using your own QuickBooks Online account, we can start reviewing the transactions entered into QuickBooks and compare the information from your bank statement. Ensure everything is matched. We can use this as a reference: Fix issues for accounts you've reconciled in the past in QuickBooks Online.

 

Let's utilize these articles for more tips and information on how to keep transactions and accounts accurate:

 

 

If there is anything else I can do to assist you with your banking needs and balances, kindly let me know. I'll be right here to provide you with more assistance.     

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