My Bank Account balance is correct. My Quickbook is off because it won't recognize my cash deposit I have "added" into the bank COA. It will balance if it recognized it.

Hi there,

It's important your bank balance matches your QuickBooks balance. Don't worry, I'll be happy to look into this and give you the support you need.

Whether your transactions affect your accounts right away depends on your accounting method. The reason I say this is that the accounting method you choose determines what's considered as income/expense and at what stage. There are two types of accounting methods in QuickBooks Online; Accrual Basis and Cash Basis. 

Accrual basis

• In this accounting method, the time when you enter a transaction and the time when you actually pay or receive cash may be two separate events.
• An accrual basis report shows income regardless of whether your customers have paid your invoices and expenses regardless of whether you have paid all your bills.

Cash basis

• A bookkeeping method in which you regard income or expenses as occurring at the time you actually receive a payment or pay a bill.
• A cash basis report only shows income if you have received cash and expenses if you have paid cash.

Knowing this info, you can now select which accounting method works best with your business. You can edit this by clicking the Gear icon > Account and Settings > Advanced > Accounting method to Cash > Save).

Let me know if this helps! In case you need further assistance, feel free to contact our support team using this link here.