I can see how hard this unmatched bank and QuickBooks balance have made things for you, kushan. I'm here to provide information about the causes of discrepancies, kushan.
QuickBooks balance is based on the transactions that you've added or matched in the system. Whereas, the bank balance depends on the data that were shared from your financial institution.
Several factors may cause the balances to differ between Bank Balance and QuickBooks. Check some these why they don't match:
- Outstanding transactions
- New transactions for a connected account
- Duplicate transactions
- Edited or deleted transactions
- Credit card (liability) account
To fix this, I recommend categorising and matching your downloaded transactions based on your bank statement to check what causes the difference. You can do so by following the steps outlined in this article: Categorise online bank transactions in QuickBooks Online.
For additional information and to fix this issue depending on the circumstances mentioned above, please check these articles to see steps on how to resolve or adjust these factors.
When you're ready to reconcile, see this resource for a guide: Reconcile an account in QuickBooks Online.
Please get back to us whenever you need extra help in managing your bank balance and QuickBooks balance. I'll be right here to provide some more information to make sure everything is accurate. Keep safe.
