There are multiple factors that could cause your QuickBooks balance to be higher than your bank balance, @Timothy.
First, this could be caused by your outstanding transactions. Your QuickBooks balance includes transactions that you've recorded that haven't yet cleared your bank. Here are some examples:
- Outstanding Deposits: You received a payment from a customer and recorded it as a deposit in QBO, but the funds haven't cleared your bank account yet.
- Outstanding Checks: You wrote a check to a vendor and entered it in QBO, but the vendor hasn't cashed the check yet.
Second, an incorrect beginning balance. If the starting balance for your account was entered inaccurately when setting up QBO, every subsequent reconciliation will be affected by that discrepancy. For guidance on correcting your beginning balance, refer to this article: Fix issues with your beginning balance for accounts you've reconciled before.
Third, edited or deleted reconciled transactions. If you or another user edited or deleted a transaction that had already been reconciled, it will throw off the balance. QuickBooks maintains a record of these changes, and you can often find them in the "Reconciliation Discrepancy Report." Additionally, you can also check your Audit Log to see any changes.
If you need further assistance, feel free to reach out. We’re here to help.
