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Dvasquez10
December 17, 2019
Question

Banking

  • December 17, 2019
  • 1 reply
  • 0 views

My credit card balance "in quickbooks" is much higher than than what is shown on my balance sheet. The balance reflected on my balance sheet matches the balance on my credit card. Is this a bug? Has anyone experienced this before? I noticed it occurred after quickbooks rolled out the new update.

1 reply

IntuitLily
IntuitLily
December 17, 2019

Let me be the first to welcome you to the Community, @Dvasquez10.

 

Some factors can affect the account balances in QuickBooks. There are times wherein the balance in QBO is higher because of the following reasons:

  • Duplicate transactions.
  • Edited or deleted transactions.
  • Card (liability) account.
  • Outstanding transactions.

Additionally, it may be due to the constant flow of transactions. It could be a timing issue and not an error.  If this is not the case, you can fix this by reviewing the opening balance entry in QuickBooks and comparing the balance to your real-life account. You can refer to this article for more details: Here's how to fix opening balance issues. 

 

Let me know if you have other questions. I'll be around to help. Have a wonderful day!

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