I tried to open the attached photo and there was an error displaying the content.
With regards to balancing your accounts, we can check each account to look into the discrepancies. From there, we can sort out how to resolve it.
Let me know if you have further clarifications. I'm always around to help you!
Catherine thank you for your reply, I reloaded the photo. I can see it from my side let me know what you think. I read several ways of solving this but the gap is so large I don't want to mess up further.
Hello again, @Zseb. I appreciate you taking the time to re-upload the photo as it helps to provide insight into the accounts.
There are multiple reasons why a bank balance won't match the one in QuickBooks Online (QBO), such as outstanding or duplicate transactions. Given the large discrepancies between these amounts, with one account differing by nearly 750,000 dollars, I would recommend looking first for duplicate transactions. The following article provides additional insight into this scenario, and others, as well as troubleshooting steps to help pinpoint the cause of the discrepancy: How to fix differences between QuickBooks balance and bank balance.
This article is a good place to begin in order to help determine why these balances aren't matching.
Should you have questions about this, or anything else, you can always find me here. Hope you have a great day.
Thank you for your reply, I know this is not fault of anyone here and I greatly appreciate the replies. But I am literally being thrown under the bus by taking over the accounting for our small Mom'pop business. Going through many years of transaction to sort it out with the time I am being given won't happen.
Technically the gap is $20,445.09 still a big gap and not possible to find easily since we only manage small transactions.
Is there any other way?
You're certainly welcome, @Zseb.
I realize that going through years of transactions can be a daunting task, especially if you have limited time. One option that you may wish to consider is working on reconciling the accounts. This would help to identify some of the root causes of the discrepancies.
Should you decide that you want to follow that path, I recommend the following resource as it contains numerous articles to help troubleshoot the process: Reconcile Hub.
Alternatively, there is the option of making journal entries to help balance the accounts. However, you may wish to consider reaching out to your accountant to ensure that the correct accounts are chosen.
Please know that the Community is here and I'm happy to answer any additional questions that you may have. Cheering you to continued success.