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Why does my statement ending balance & cleared balance match, but I still have a big difference showing up?

Forum|Forum|5 years ago
August 18, 2020
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QuickBooks Online

Best answer by AlcaeusF

Welcome to the Community, @joel26.

We want to assist you with your balance concern in QuickBooks. However, we need more information about it to provide the right resolution and to get this sorted out promptly.

Which part or section it's showing a big difference to the figures? Any additional information you can add is much appreciated.

If you're referring to the balance in QuickBooks not matching your bank statement, there are several possible causes you can check. For the beginning balance, the system calculates the figures depending on the account (if already reconciled before or not).

I suggest you visit the About beginning balance discrepancies article. It contains the details you need about how the account balance is calculated.

Also, If there's a need to correct the opening balance, I suggest following these steps:

Go to Settings ⚙️, then select Chart of Accounts.
Locate the account, then go to the Action column and select View register.
Find the opening balance entry. Tip: If you've got the Date column sorted from newest to oldest, the opening balance entry may be at the end of the list.
Select the opening balance entry.
Edit the amount. Tip: If you're not able to edit the amount directly on this screen, in some cases you can edit by selecting the Edit ✎ icon.
Select Save. Your change will not be saved if you navigate away from the register without saving.

For additional reference, I've attached some articles you can use to learn more about fixing the account balances:

Drop me a comment below if you have any other questions. I'll be more than happy to help. Wishing you a good one.

AlcaeusFAnswer

Welcome to the Community, @joel26.

We want to assist you with your balance concern in QuickBooks. However, we need more information about it to provide the right resolution and to get this sorted out promptly.

Which part or section it's showing a big difference to the figures? Any additional information you can add is much appreciated.

If you're referring to the balance in QuickBooks not matching your bank statement, there are several possible causes you can check. For the beginning balance, the system calculates the figures depending on the account (if already reconciled before or not).

I suggest you visit the About beginning balance discrepancies article. It contains the details you need about how the account balance is calculated.

Also, If there's a need to correct the opening balance, I suggest following these steps:

Go to Settings ⚙️, then select Chart of Accounts.
Locate the account, then go to the Action column and select View register.
Find the opening balance entry. Tip: If you've got the Date column sorted from newest to oldest, the opening balance entry may be at the end of the list.
Select the opening balance entry.
Edit the amount. Tip: If you're not able to edit the amount directly on this screen, in some cases you can edit by selecting the Edit ✎ icon.
Select Save. Your change will not be saved if you navigate away from the register without saving.

For additional reference, I've attached some articles you can use to learn more about fixing the account balances:

Drop me a comment below if you have any other questions. I'll be more than happy to help. Wishing you a good one.

L

lrichards

My 12/31/20 balance per the books differs from the balance on bank reconciliation at 12/31/20. How do I see what has changed?

Candice C

Good Afternoon, @Irichards.

It's great to see you back in the Community. To receive the best advice on how to resolve this issue, can you please provide me with some additional information or screenshots? This will help me determine the best solution for your business.

You can check out some of these articles to help you out:

I want to make sure that you're able to get your problem fixed as soon as possible. I'm always here to lend a helping hand. I'll be back around shortly.

G

gpatherapy

I am looking for a report that shows items in my register that have not cleared the bank. I have almost a $30,000 difference between what the bank says I have and what QB says I have. The bank is in my favor. So not stressed but, I am trying to figure out if there are some double entries somewhere. I have only been handling this account since January, so I am pretty sure my own entries are good but, not sure about my predecessor.

R

rvrfrf

Thanks for becoming part of the Community, gpatherapy.

I can certainly understand how an ability to generate a report that shows transactions which haven't cleared a particular bank account yet could be useful and have submitted a suggestion about it as of today.

You can also submit your own feature requests while signed in.

Here's how:

Use the Gear (⚙️) icon.
Choose Feedback.
Enter your suggestions and/or comments.
Click Next.
Hit Skip and send message.
The available drop-down menu can be used to pick an appropriate category.
Select Send message.

Your feedback's definitely valuable to Intuit. It will be reviewed by our Product Development team and considered in future updates. Feature requests can be tracked through our Customer Feedback website. You can also find news about your product on the Product Updates page.

As a workaround, you can use the information and/or steps in AlcaeusF's and MariaSoledadG's posts to identify what's causing your difference and how it can be corrected.

If there's any questions, I'm just a post away. Have a lovely day!

A

Alina95

I recently had the same issue.

this was my situation.

I went into reconcile and didn't look what was last Reconcile date and went ahead and skipped a month

( example month July reconcile but August wasnt done and went to do sep)

I added all the bank end balance and date for Sep Reconcile and pressed start reconcile.

after going through I noticed I skipped a month..went to click edit to adjust the reconcile for AUG and that was when I had a differed.

that is because the QB some how already is refinancing the reconcile data you put in for SEP.

what I did was made sure all the Deposit and beginning balance matched and then never closed AUG and continued to input the reconcile information for SEP . which then equaled out the balance issue I had...

recap: is THAT month all looks good just no Zero Edit the Reconcile to the new month and it will zero out that new month :)

B

Bookeeper1288

I am reconciling my bank rec, but some some reason I have a large difference at the end. I have cleared all transactions both checks and deposits from the bank recons and still have a large difference. Please advise.

C

ChristineJoieR

I appreciate your patience and effort in resolving the difference issue of your reconciliation, @Bookeeper1288. Let me give you additional details to balance your book in QuickBooks Online.

We pull up your bank statement and compare them to your book in QuickBooks Online. If you notice unnecessary transactions added to your books, you can remove them.

If the balance still doesn't match, the possible remedy to fix your reconciliation balances is to check the past reconciliation. It is a way to see and notice where the error starts. Please check this article for your guide: Fix issues for accounts you've reconciled in the past in QuickBooks Online.

If the same thing happens, I recommend contacting our support team and having it reviewed through a screen-sharing session.

Here's how to call them:

Sign in to your QuickBooks Online company.
Go to Help (?).
Select Contact Us.
Enter your concern, then select Let's talk.
Choose a way to connect with us: Get a callback from the next available expert.

Feel free to post here in the Community if you have concerns about reconciling your accounts in QuickBooks. I want to ensure you're taken care of, and I'm here to help you anytime. Take care always.

M

mgolabchi

Hi,

my ending bal and beginning bal is correct. my charges are checked and match the bank statement, and yet my cleared balance on the top next to statement ending balance is off. No idea how to fix it. Would you be able to help me?

Thanks,

Mitrra

R

ReymondO

Let me share insights on what's causing the CLEARED BALANCE section to be off in the Reconciliation window, @mgolabchi.

The amount displayed in this section is determined by the transactions that have been marked as checked in your Reconciliation window. Therefore, it is important to ensure that all relevant transactions have been properly checked to accurately reflect the cleared balance.

Please take note that all transactions that have been categorized and entered in QuickBooks reflect in this window. Therefore, I recommend reviewing your bank statement to ensure that all transactions have been properly recorded in QuickBooks.

If you come across any transactions on your bank statement that isn't in QuickBooks, I suggest entering them in the program. This will ensure that your records are complete and that the cleared balance is properly reflected in the Reconciliation window.

Let's also look for any transactions that are in QuickBooks, but aren't on your bank statement. If you see any, follow step number six in this article to correct your records: Fix issues at the end of a reconciliation in QuickBooks Online.

For further reference, I have attached some articles that you may find helpful in resolving issues with your account balances.

If you require further assistance with managing your books on the QBO platform, I am happy to share additional processes and insights to help you out. Please feel free to create a new thread and I will be there to assist you every step of the way.

A

AHSClj

I am having the same issue. Beginning, ending, cleared, payments and deposits all match the bank statement - it's perfect! But QB has a -$427.89 difference. I have gone through transactions one by one, and I can't see where the problem is. I have tried to account for any timing issues (saw that once) but I'm completely at a loss to know what to do next. I'm stuck!! And new to this whole thing. Please help!! Thank you in advance for your help!

R

rvrfrf

Thanks for getting involved with this thread, AHSClj. I appreciate you detailed information.

Since you've identified a difference in your account balances, I'd recommend getting in touch with our Customer Care team. They'll be able to pull up the account in a secure environment and conduct further research with you to find your discrepancy.

They can be reached while you're signed in.

Here's how:

Use the Help (?) icon.
Click Contact Us.
Enter a description of your situation in the What can we help you with? field, then hit Let's talk.
Select Start messaging or Get a call.