Hello,
I would be more than happy to try and help you with your question. The best way to catch discrepancies between your QuickBooks Balance and your Bank Balance is through a process called reconciliation of your accounts. To learn more about reconciling your accounts in QuickBooks Online, I have provided a link down below to Intuit QuickBooks Online reconciliation hub (it is US but the process will be the same):
https://quickbooks.intuit.com/learn-support/getting-started-with-quickbooks/how-to-reconcile-an-acco...
If after you reconcile your accounts you still see quite the difference, I can offer a bit more advice of the topic.
The QuickBooks balance is the total balance of all bank transactions that you’ve added or matched to QuickBooks. While the bank balance is your bank's actual balance from the last bank feed update. If the Bank balance is greater than your QuickBooks balance, there might be bank transactions that are causing the difference. Here’s a list of possible reasons why these balances don’t match:
- Outstanding transactions.
- New transactions for a connected account.
- Duplicate transactions.
- Edited or deleted transactions.
- Card (liability) account.
Depending on the factor that’s mentioned above, there are different steps to fix your issue. Here’s an article on the steps to fix or adjust these factors: How to Fix Differences Between QuickBooks Balance and Bank Balance.
I hope this helps!
If for whatever reason you get stuck on any of the steps you can now request a callback feature right inside your QuickBooks Online to speak with Intuit QuickBooks Online customer support to help you through your payroll set up. I have provided you with the steps in the link down below:
https://quickbooks.intuit.com/learn-support/en-ca/intuit-account-settings/using-the-call-back-featur...
I hope this helps! Have a great rest of your week.
Best Regards,
Lourdes F.
