Skip to main content
S
salliethorn-gmai
February 28, 2023
Question

What does the total "in quickbooks" banking reflect.It does not even come close to bank balance

  • February 28, 2023
  • 1 reply
  • 0 views
Original commenter did not share additional details

1 reply

Bryan_M
Bryan_M
February 28, 2023

It's great to have you here in the Community, sallie.

In QuickBooks Online, there are factors that affect the balance of your bank accounts. Among these factors are mainly your downloaded bank transactions. I'm here to help you clear things out.

 

The QuickBooks balance is affected by all your transactions in the register and the ones you haven't reviewed yet. While the bank balance is solely determined based on the transactions on the register.

 

Now to fix this and if you want to make sure they're equal, let's consider categorizing and matching your downloaded transactions based on your bank statement. You can do so by following the steps outlined in this article: Categorize and match online bank transactions in QuickBooks Online.

 

On top of that, I've also included this reference helpful with the resources needed while working with bank feeds and reconciling accounts: How to reconcile your accounts so they always match your bank and credit card statements?

 

Don't hesitate to post again here if you have other questions or concerns with QuickBooks tasks and navigations. I'm always around happy to help. Take care and stay safe!

S
salliethorn-gmaiAuthor
February 28, 2023

ihave them all catorgized and matched, reconcile is current and no issues,It would be smashing to have what quickbooks says we have, its over by a HUGE amount..Please advise

R
RoseJillB
February 28, 2023

Thank you for posting in the Community, sallie. Let me assist you with your concerns about the in-Quickbooks balance and the bank balance in QuickBooks Online (QBO).

 

There are several reasons why your bank register balance in QuickBooks Online is different from your actual bank balance. These would need to be rectified when you ascertain the cause of the mismatch.

 

Balances may not match for several reasons:

 

  • Outstanding transactions
  • New transactions for a connected account
  • Duplicate transactions
  • Edited or deleted transactions
  • Credit card (liability) account

 

On the other hand, manually entered transactions in QBO affect the In-QuickBooks balance. That said if you have transactions that have been manually entered into your company file the amount will add up or vice versa to the QuickBooks balance.

 

You’ll also want to check out this article to find out the recommended fix for the mentioned reasons: Fix issues for accounts you've reconciled in the past in QuickBooks Online.

 

If you have other concerns with any QuickBooks-related matters, please let me know by posting them in this thread. Have a good one!

Terms & ConditionsAccessibility statement