Skip to main content
January 27, 2024
Question

I have an account balance (hold from PayPal) for $3607.48. It is still showing in my quickbooks balance. The actual correct balance is $2.29. How do I reconcile this?

  • January 27, 2024
  • 1 reply
  • 0 views
I am cancelling the PayPal account - I no longer need it.  The funds were paid out - Quickbooks picked it up from PayPal.  Should I just enter a correction for (3605.19) in chart of accounts?

1 reply

January 29, 2024

Hi connor10,

 

Thanks for contacting us in the Community. Reconciling accounts is a crucial step towards balancing your books and The program is designed to help you save time so you can do the things that you enjoy the most. I'll be glad to share more information about reconciling your accounts. 

 

I recommend getting in touch with an accounting professional for expert advice on how to handle the transactions. If you're not in contact with a professional, don't worry, you can search for one using this link here. Otherwise, I recommend you to check out these helpful resources with more info about reconciling in QuickBooks:

 

In case you need to merge the accounts so you can reconcile just one account, I encourage you to check out this article here as it provides the steps on how to do that. Let m know if this info helps. I'll be one message away in case you have other questions.