A

Anonymous

Question

Quickbooks Checking Account Statements are WRONG

Forum|Forum|1 year ago
January 28, 2025
2 replies
2 views

Does anyone else have issues with their QB Checking account statements being incorrect??? I don't see how I'm supposed to reconcile this account when the statements are wildly inaccurate. I do not understand how they can continue to get away with these shady practices. For example, the month I started the account the statement Account summary shows:

Beginning Balance $0

Credits +$2,347.70

Debits -$1,288.54

Ending Balance $1,059.16

Calculate that & it comes out correct. However, the actual amounts are as follows:

Beginning Balance $0

Credits +$2,760.20

Debits -$2,160.20

Which does NOT come out to the ending balance. They don't show a running balance so there's no way to check the accuracy with that. How can an ACCOUNTING SOFTWARE COMPANY screw up something as simple as addition and subtraction???? Jump to the next month, the summary shows:

Beginning Balance $1,059.16(which we've established was incorrect)

Credits +$4,176.27

Debits -$4,181.01

Ending Balance $1,054.42

The actual Credits are $6,688.51 and the actual debits are -$6,871.11

I don't even know what to do with this. This is not my primary bank, however we are in a small town so our local bank is not really business friendly, so using the QB checking gives me more options for payroll and of course the HYS. Is there something I'm missing? I just don't see how I'm ever going to be able to reconcile this account like this. It's like they're literally pulling numbers out of the sky. I use QB desktop, but I have QB Money just to be able to use the checking account.

Bryan_M

QuickBooks Team

We hear you, @1798376. For an incorrect QuickBooks (QB) Checking bank statement, you'll need to contact the partner bank that provided it. I'll share more information below.

Green Dot Bank is the banking service provider of QB Checking. I suggest contacting them to verify the accuracy of the bank statement they provide.

Moreover, QuickBooks Online (QBO) only depends on the data provided by your bank before reconciling them.

Additionally, you can read this article to learn the overall process of reconciliation: Learn the reconciliation workflow in QuickBooks.

I'll also share this article to get answers to frequently asked questions about QB Checking: QuickBooks Checking FAQ.

Feel free to return here if you have additional questions about QB Checking bank statements. We'll be willing to help. Take care always,

A

Anonymous

Like always, this answer was completely useless.

M

Melissa Hyde

I'm having the same problem! My QB Checking Statements run from the 8th of the month to the 7th of the month. I noticed for the 8/8/25-9/7/25 statement that the credits included interest payments for the period, but the date for them is 9/8. I couldn't reconcile unless I checked those as well. THEN, the next statement's beginning balance was incorrect! It was the balance it would have been had those interest payments not been included. Snowball from there. The only way I was able to make it make sense was to change the ending balances to what it would be if the interest payments were not included. This is so incorrect on so many levels!
I'm not even sure what to do now. This would just go on and on.
And, I agree, how can an accounting software company not get their statements wrong???

B

BonJulius_G

QuickBooks Team

I totally see the snowball you’re dealing with, Melissa. The most direct solution is to perform a force match during your next reconciliation.

When you are looking at the statement ending on the 7th, go ahead and manually select that interest payment dated the 8th on the reconciliation. Even though it's technically a future transaction, the bank has already included it in the ending total, so checking it off is the only way to hit that $0.00 difference.

The next month’s Beginning Balance will then likely flag a discrepancy because you pulled a transaction from that period. When that happens, just click the Help me fix it link on the reconciliation screen. It will pull up a report showing that the 9/8 interest payment as the culprit, and you can tell QuickBooks to accept the discrepancy so you can start the new month with a clean slate.

Lastly, I suggest reaching out to our QuickBooks Live Support to investigate why this interest transaction is being dated outside your statement period and breaking your reconciliation balance.

If you have any further questions or concerns, please don't hesitate to let us know. We’re here to help.

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