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hollidgraham-gma
December 12, 2022
Question

Quickbooks added one penny to my bank balance. How can I correct that?

  • December 12, 2022
  • 1 reply
  • 0 views
I just set up my account tonight and imported all my credit card transactions from one card to get started. For this card, I get charged $11.90 for one thing every month, and that's all the transactions for the card. For some reason, QB is showing the current balance as $11.91. Where did this extra penny come from and how can I fix it? I want to understand what's going on before I import my other much more complicated bank and credit card accounts. Any ideas?

1 reply

Rose-A
Rose-A
December 12, 2022

Hey there, hollidgraham-gma.

 

We can check the Audit Log to see if anyone added another transaction for the same card to ensure your transactions are correct. Here's how it works:

 

  1. Click the Gear icon at the upper right corner,
  2. Choose Audit Log.
  3. From the Audit Log, find if there's a penny transaction created there.

 

However, if there's no another transactions created, I'd suggest getting in touch with your financial institution to check on why there's a penny added to your statements.

 

I've included some recommended articles below. These will give us more information on how to manage your transactions in QuickBooks Online, as well as how to set up bank rules to automatically categorize them: 

 

Set up bank rules to categorize online banking transactions in QuickBooks Online.

Categorize and match online bank transactions in QuickBooks Online.


You can always return to the Community if a problem arises while using QuickBooks Online. I'd be glad to help. Have a fantastic day, hollidgraham-gma.

H
hollidgraham-gmaAuthor
December 12, 2022

Hi Rose-A. Thank you for your reply. I checked the audit log, and there's nothing there except the $11.90 expenses. There isn't an extra penny anywhere. My financial institution is correctly showing $11.90 for the current balance. When I first linked the account, it only imported transactions back to September. I had manually import everything back to January 1. After I did that, I had to change the opening balance equity back to that date and subtract $11.90 to make the opening balance zero to be correct. When I was googling, I've read something about QB rounding things for some reason and sometimes causing one penny errors? I haven't been able to find a setting for that anywhere though. I don't know what else to check.

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