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July 7, 2021
Question

Hi I have connected my bank to quickbook, but it only shows the opening balance

  • July 7, 2021
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1 reply

July 7, 2021

Hello there, @freshupteam. I've got you covered for updating your online banking transactions in QuickBooks Online (QBO).

 

Before we start, can you verify the name of your financial institution? Also, are you receiving an error message when viewing your bank account? Additional details are much appreciated so I can provide the exact resolution for this matter.

 

Once you've connected your bank account to online banking, QuickBooks automatically downloads your transactions. Since you can only see your opening balance, you'll have the option to manually update your account. This refreshes the connection between your bank and the program to get the latest transactions. Here's how:

  1. Go to the Banking or Transactions menu.
  2. Select  the blue tile for your credit card account.
  3. Click the Update button.
  4. (Optional) Follow the on-screen instructions to complete the process.

 

I've attached a screenshot below that shows the first three steps.

 

Once your bank transactions are downloaded, you'll have to review and/or match them to the existing entries in QuickBooks. This way, you can keep your account updated. For the step-by-step guide, you can refer to this article: Categorise online bank transactions in QuickBooks Online.

 

Also, I encourage you to reconcile your accounts every month. This is an effective way to monitor your income, expenses and detect any possible errors accordingly. Please check out this article for the complete details: Reconcile an account in QuickBooks Online.

 

Please let me know if you have any other banking concerns by dropping a comment below. I'll be glad to help. Take care and stay safe.