Let's rectify the discrepancies between your bank account and balances in QuickBooks Online (QBO), kherron.
In QuickBooks, the program is dependent on what your bank shares. Each financial institution has a different time increment when they send the transactions. With that, if your bank register balance in the online program doesn't match your actual bank balance, several factors may cause the balances to vary.
Thus, you would need to verify why they don’t match, and fix them accordingly. Here are the following reasons you want to consider:
- Outstanding transactions
- New transactions for a connected account
- Duplicate transactions
- Edited or deleted transactions
- Credit card (liability) account
To fix this, let's consider categorizing and matching your downloaded transactions based on your bank statement. You can do so by following the steps outlined in this article: Categorize and match online bank transactions in QuickBooks Online.
If you’re still having problems with mismatched problems, you may also read these articles for further help:
I'll always visit this thread to make sure any additional queries you have are addressed. Just feel free to let me know in the comments below. Keep safe and have a good one!
