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D
Dickens
August 9, 2019
Question

Bank balance and QuickBooks now don’t balance.

  • August 9, 2019
  • 1 reply
  • 0 views

Bank Balance and QuickBooks Balance are different. The QuickBooks Balance is less than the Bank Balance-the difference is equal to the VAT payment made in July 2019. How can this be corrected?

1 reply

P
payment after leaving
August 9, 2019


Hi Dickens

 

Have you recorded the VAT payment twice, in the VAT centre and manually or added it in from the banking screen.

 

D
DickensAuthor
August 9, 2019

Thank you for your reply.  I didn't realise in the first instance that when I had marked as paid the VAT account in Quickbooks that I hadn't noticed the account payment details at the top of the payment page. I should have selected current account and not Credit Card account (set as a default). After fixing this issue I discovered the mis-matched Bank & Quickbooks Balance.  I spoke to a Quickbooks advisor who, with the help of "Glanceguest", the advisor selected 'undo" via the chart of accounts. Then he was able to Match my payment entry of VAT.  As a result the correct Bank & Quickbooks balance was established. Thought this may help another Quickbooks Online user.

G
GeorgiaC
August 9, 2019

Thanks for the detailed reply Dickens! Happy to hear you were able to resolve this with one of our advisors - this is something I have come across when reconciling with other customers myself, so an easy mistake to make, and hopefully this post will help guide others with how to correct this :) 

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