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userdonald-seligman
March 8, 2021
Question

The December 31, 2020 Quickbooks on-line balance does not match the bank statement which matches my December 31,2020 Desktop Quickbooks amount.

  • March 8, 2021
  • 1 reply
  • 0 views
Bank statement has an ending balance of $110,555.16 with $2,600 in outstanding checks, leaving a final balance of $107,955.16. The On-line QB Dec. 31, 2020 balance is listed as $110,920.72. How can I get on-line QB to agree with the real bank balance?

1 reply

Jen_D
Jen_D
March 8, 2021

It's nice to see you here, @userdonald-seligman,

 

The register balance in QuickBooks is supposed to match with the bank statement. If it shows a different balance, review and compare if there are duplicate transactions that is causing the overstated figures.

 

QuickBooks balance is composed of the transactions created or added in the program, while the bank statement is the total of transactions that were cleared in the bank. 

 

You can check out this article to learn more about matches between QuickBooks and your bank: How to Fix Differences Between QuickBooks Balance and Bank Balance.

 

For additional information about the best practices when reconciling, see this article: Reconcile Hub. 

 

If you have other questions or need further guidance with fixing the balance, notify me by adding a new comment below. I'm here if you need additional help and insights. Have a nice day! Take care.

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