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bushy402
September 26, 2019
Question

My bank balance is much higher than quickbooks balance. Why is that and how can I fix it?

  • September 26, 2019
  • 3 replies
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Original commenter did not share additional details

    3 replies

    J
    jcgomez
    September 26, 2019

    Hi bushy402,

    I'm here to share some pointers on how you can resolve the difference on these balances.

    The QuickBooks balance is the total balance of all bank transactions that you’ve added or matched to QuickBooks. While the bank balance is your bank's actual balance from the last bank feed update. If the Bank balance is greater than your QuickBooks balance, there might be bank transactions that are causing the difference. Here’s a list of possible reasons why these balances don’t match:

    • Outstanding transactions.
    • New transactions for a connected account.
    • Duplicate transactions.
    • Edited or deleted transactions.
    • Card (liability) account.

    Depending on the factor that’s mentioned above, there are different steps to fix your issue. Here’s an article on the steps to fix or adjust these factors: How to Fix Differences Between QuickBooks Balance and Bank Balance.

    If you have other questions, feel free to leave a comment below.

      T
      tinker tailer 23
      November 5, 2019

      there is  often a time lag between the REPORTED bank balance shown in Quick books, and the transactions required to be matched in Quick books being fed through.

       

      The banking screen showing all done  with a green tick is misleading.

       

      that simply means that the bank transaction feeds have all been posted........... the ones lagging and as yet unseen require posting in due course to bring Quick books ban and real bank into alignment.

       

      In reality if there is a constant flow of transactions  you are most unlikely to see the two accounts match !  in that case it is not an error,  just a timing issue.

       

      if you go online and look at your bank account, through your EYES, not quick books EYES you will soon see the point.

       

       

       

        T
        Treescape
        February 14, 2020

        Some days I miss my spreadsheet. I need QB for the reporting etc though. I just had the same issue. I went and undid all my transactions as I was worried I might have allocated some wrong. And now it's worse! 

          RusnaBrpakpahan
          RusnaBrpakpahan
          August 28, 2020

          Hi There 

           

          I'm here to share some pointers on how you can resolve the difference on these balances.

          The QuickBooks balance is the total balance of all bank transactions that you’ve added or matched to QuickBooks. While the bank balance is your bank's actual balance from the last bank feed update. If the Bank balance is greater than your QuickBooks balance, there might be bank transactions that are causing the difference. Here’s a list of possible reasons why these balances don’t match:

           

          • Outstanding transactions.
          • New transactions for a connected account.
          • Duplicate transactions.
          • Edited or deleted transactions.
          • Card (liability) account.
          J
          JBowen101
          January 5, 2022

          Hi Everyone

          I am curious about what's going on with my quickbooks balance.

          The balance is much higher in Quickbooks than my actual bank balance. 

          I need to reconcile this and find a efficient way to equal accounts.

          Appreciate any help provided.

            S
            SarahannC
            January 5, 2022

            Hello there, JBowen101.

             

            As mentioned above, there are several reasons why QuickBooks balance and your actual bank balance don't match.

             

            It could be that there are outstanding transactions, new transactions for a connected account, duplicate transactions, and edited or deleted transactions. 

             

            We can start reviewing the transactions entered in QuickBooks. Then, make sure they're the same as your bank statement. Still, you can check these articles to learn more about keeping transactions and accounts accurate.
             

             

            The Community is always around if you still need assistance, JBowen101.

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