All my accounts looked fine except that the balance in QBO doesn't match my bank reconciliation and balance in bank. There are many unclear deposits as of 12/31/2018 transactions but I'm afraid if I mark them as clear I'll have to reconcile the entire year again please advise.
I can share some resources about differences between QuickBooks balance and bank balance.
Here are the possible reasons your bank balance and QuickBooks balance are not the same.
That should do it! For additional insights, you may check out these articles:
Edit: Below can't be right either. If I had duplicates of expenses, QBO balance would be much lower than my bank account. But it's 10x higher. Doesn't make any sense.
I don't have issues with any of the points listed but one, possibly duplicates. It seems that entering in expenses on the app along with a photo of a receipt causes a duplicate when the bank record is fetched. Is there a way to merge an "added" expense to a bank record that should have been "matched"? I don't want to void the bank record because my reconciliations have been perfect without having to change anything. And I don't want to void the app-added expense because that contains a photo - the only record of the physical receipt. I tried searching for duplicate transactions but I do not have a "transactions" tab in the left pane within QBO Simple Start. This is extremely frustrating and taking way too much of my time. Practical advice would be appreciated.
Hello there, @Dpack.
I'm here to help handle your duplicate transactions in QuickBooks Online (QBO).
If you've uploaded an attachment along with the photo of the receipt, you can just simply delete the duplicate transaction. On the other hand, if one of the duplicate transaction isn't reconciled yet, you can also delete the unreconciled one.
To view the transactions or the attachment added along with the photo of the receipt, simply go to the Gear icon and select Attachments under Lists.
In addition, to know more about reconciling transaction in QBO, you may check this article: Reconcile hub.
You can also get in touch with our Support Team if you need further assistance along the process.
I'll be right here to help you if you have any other banking concerns, just add a comment below. Have a good day!
Everything is reconciled. I do not have an issue with reconciling.
Duplicates show up in the register, one for app-added expenses with receipts and one for bank records a couple days later, which say they are "matched" and which add to the overall QBO balance on the far right. That is the big problem. Duplicates do not show up if I search for Expenses.
It's great to hear again from you, @Dpack.
Allow me to provide you with additional information on how to remove the duplicate transactions in your bank register.
When matching manually added transaction with the downloaded ones, all information about the transaction should exactly match including the date of the transaction.
To verify whether there are duplicate in your transaction list, let's do the search within the bank register.
That should so it! This will allow you to locate any duplicate transaction in your bank register.
I'm always here to help should you need further assistance with managing your transactions. Feel free to visit us here in the Community.
Hello, please see the example from when I received one single check.
I added a payment to its invoice.
Then I added a bank deposit.
Later, QBO synced with my bank and found the record of a deposit.
Now, QBO sees those three transactions AND adds all three to my QBO balance - shown on the right. This is the issue. I'm beginning to think I should completely dismiss the balance shown so long as my reports are accurate.
Hello there, @Dpack.
Thank you for getting back to us in the Community and for providing us more information about your experience when matching your transactions. Allow me to help share some insight to get this straightened out.
To start, let's check the payment you entered for the customer's invoice. To make sure that it shows in the Bank Deposit screen, it should be posted to Undeposited Funds.
Here's how to check:
After that, you need to add the payment in the bank deposit. Once done, go to the Banking page to undo first the added transaction. Let me guide you how:
On the left pane, select Banking.
On the Bank and Credit Card window, select the In QuickBooks tab.
Find the transaction.
In the ACTION column, select Undo.
Once done, match the downloaded transaction to the transactions in QuickBooks. The following article contains more information and detailed steps about this process: Add and match downloaded banking transactions (Match downloaded transactions to transactions in QuickBooks Online).
If you still see the duplicate deposit, I suggest deleting it in your account. For additional help, feel free to reach out to our Customer Care Support. They have tools like screen share to determine what's causing this and get this taken care of today.
And of course, please know that I'm just a post away if you're referring to something else or once you've tried the steps above. I'll be happy to help you some more. Take care and have a great day ahead.
The In QuickBooks tab is now changed to Reviewed. It's beside the For Review tab on your screenshot. From there, you will see all the transactions that you've added or matched. You can undo the ones that are causing duplicate entries, and match them instead to your QuickBooks entries.
On the other hand, your photo will remain in the Attachment section. You can attach them to your transactions that are already in your register.
Moving forward, if you have existing transactions in QuickBooks, I'd suggest to add them in there.
Please let us know if you need more help. Thanks!