I've got some helpful insights about the difference between Bank Balance and In QuickBooks balance on the Banking screen in QuickBooks Online (QBO), @Tom2310.
The Bank Balance displayed the amount of all transactions from your bank that have been posted or cleared. While the In QuickBooks balance is the total balance of all bank transactions that you’ve added or matched to QuickBooks.
Here are the most common causes why the bank and QuickBooks balance shows differences in their respective amounts:
- Outstanding transactions
- New transactions for a connected account
- Duplicate transactions
- Edited or deleted transactions
- Credit card (liability) account
There are different troubleshooting steps to fix the discrepancy based on what caused it. Find the one that fits your situation and follow the solution provided in this article: Fix issues for accounts you've reconciled in the past in QuickBooks Online.
Once fixed, I encourage you to reconcile your account. This way, you can effectively monitor your income and expenses, as well as detect any possible errors accordingly. You can refer to this article for the step-by-step guide: Reconcile an account in QuickBooks Online.
Get back to us if there are any other things you need help with. I'll be more than happy to assist you further. Have a good one!
