In Quickbooks and Bank balance not matching

JennyA4G · ‎October 29, 2018

Hi,

My client uses QuickBooks online and i can't get the Bank Balance and the In QuickBooks balances to match.

I've looked online and i'm going round in circles.

The bank accounts are connected to Barclays and my client downloads her transactions into QB. i have found that one of the accounts has an opening balance amount, which is incorrect but if i deleted or amend it the problem is still there.

Any help would be great.

Thank you

Jenny

Anonymous · ‎October 29, 2018

Hi JennyA4G,

Thank you for contacting the Community.

Can I ask if the account has been reconciled in QuickBooks? If not I would recommend to complete a reconciliation as soon as possible, to find out if all the required transactions are on QuickBooks, or if there are any duplicates which shouldn't be there. To reconcile the Cog wheel and then Reconcile.

In terms of the opening balance, can you see this in the account history as either a deposit or journal? If so has this transaction been reconciled.

Thanks, Carly. :)

JennyA4G · ‎October 29, 2018

Hi Carly,

Thank you for your reply,

Since i took over the bookkeeping from another person, i have always reconciled the bank accounts but for some reason the two balances in QB don't match each other.

An opening balance amount has been entered into a new account in QB which was setup in July 2018. There wasn't an opening balance in the account. I've check this against the bank statements and I've check via online banking.

The transactions has been entered as a journal and if i check via accounts history has an R next to it but when i go to reconcile the account it is showing in the reconcile screen.

i don't know what is going on!

Jenny

Anonymous · ‎October 29, 2018

Hi JennyA4G,

For this I would recommend to give us a call so one of our agents can set up a screen share and work out what has happened. Please click here to visit our contact page.

Thanks, Carly. :)

JennyA4G · ‎October 29, 2018

Hi Carly,

Would QB charge for this?

Thank you

Jenny

Anonymous · ‎October 29, 2018

Hi JennyA4G,

It is a free phone number to contact QuickBooks Online. :)

Thanks, Carly. :)

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In Quickbooks and Bank balance not matching