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January 28, 2025
Question

Quickbooks Checking Account Statements are WRONG

  • January 28, 2025
  • 1 reply
  • 0 views

Does anyone else have issues with their QB Checking account statements being incorrect??? I don't see how I'm supposed to reconcile this account when the statements are wildly inaccurate. I do not understand how they can continue to get away with these shady practices. For example, the month I started the account the statement Account summary shows:

Beginning Balance $0

Credits +$2,347.70

Debits -$1,288.54

Ending Balance $1,059.16

Calculate that & it comes out correct. However, the actual amounts are as follows:

Beginning Balance $0

Credits +$2,760.20

Debits -$2,160.20

Which does NOT come out to the ending balance. They don't show a running balance so there's no way to check the accuracy with that. How can an ACCOUNTING SOFTWARE COMPANY screw up something as simple as addition and subtraction???? Jump to the next month, the summary shows:

Beginning Balance $1,059.16(which we've established was incorrect)

Credits +$4,176.27

Debits -$4,181.01

Ending Balance $1,054.42

The actual Credits are $6,688.51 and the actual debits are -$6,871.11

 

I don't even know what to do with this. This is not my primary bank, however we are in a small town so our local bank is not really business friendly, so using the QB checking gives me more options for payroll and of course the HYS. Is there something I'm missing? I just don't see how I'm ever going to be able to reconcile this account like this. It's like they're literally pulling numbers out of the sky. I use QB desktop, but I have QB Money just to be able to use the checking account. 

1 reply

Bryan_M
January 28, 2025

We hear you, @1798376. For an incorrect QuickBooks (QB) Checking bank statement, you'll need to contact the partner bank that provided it. I'll share more information below.

 

Green Dot Bank is the banking service provider of QB Checking. I suggest contacting them to verify the accuracy of the bank statement they provide.

 

Moreover, QuickBooks Online (QBO) only depends on the data provided by your bank before reconciling them. 

 

Additionally, you can read this article to learn the overall process of reconciliation: Learn the reconciliation workflow in QuickBooks.

 

I'll also share this article to get answers to frequently asked questions about QB Checking: QuickBooks Checking FAQ.

 

Feel free to return here if you have additional questions about QB Checking bank statements. We'll be willing to help. Take care always,

January 28, 2025

Like always, this answer was completely useless.