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dawgteem
June 21, 2021
Question

Bank balance is way off

  • June 21, 2021
  • 1 reply
  • 0 views

A few months ago I started accepting credit card payments through Quickbooks and now everything is messed up. When I try to reconcile, the payments show up in the feed when they are not on the bank statement. I have matched everything up from the bank statement and it is showing over $6000 off from the bank balance so I can’t reconcile. I have checked the register and everything shows correct in it. Please help.

1 reply

C
ChristieAnn 11
June 21, 2021

Hi there, dawgteem.

 

Welcome back to the QuickBooks Community. I'll share details to ensure that your balances in QuickBooks Online and from the actual bank are correct. This way, you can reconcile your accounts correctly.

 

When you reconcile an account in QuickBooks Online, you'll have to compare transactions in QuickBooks with the same ones on your bank statements. Then, it should be $0.00 the difference between the ending balance in QuickBooks and your bank statement. If not, you'll have to review the opening and beginning balances to ensure that your transactions are accurate.

 

If the opening and beginning balances are correct and the issue persists, you'll have to remove transactions that aren't on your bank statement. To see the steps on how to perform the process, you can click this article to see the instructions: Fix issues at the end of reconciliation in QuickBooks Online.

 

I've also added an article that helps you on how to run a reconciliation report to print or export this one, check out this link: How do I view, print, or export a reconciliation report.

 

Fill me in if you need more help by leaving a comment below. I'll be around in the Community to help. Take care and have a great day!

D
dawgteemAuthor
June 22, 2021

My opening balance is not correct. I’m sure that is part of it. Can you tell me how to correct it?

RenjolynC
RenjolynC
June 22, 2021

Thanks for your prompt reply, dawgteem.

 

I'll be glad to help you out.

 

Here's how you can edit an incorrect opening balance:

 

  1. Go to Accounting > Chart of Accounts.
  2. Locate the account and click the View register link.
  3. 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.
  4. Select the opening balance entry and 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.
  5. Hit Save. 

I've got this sample screenshot for a visual guide:

 

 

You can also read this article for reference: Edit an incorrect opening balance.

 

Please leave a reply below if you there's anything else you need. We're always around to help. Have a great day!

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