cancel
Showing results for 
Search instead for 
Did you mean: 
Highlighted
Intuit
51 helpful votes

How to fix differences between QuickBooks balance and bank balance

If the bank register balance in QuickBooks Online doesn’t match your actual bank balance, don't worry. Several factors may cause the balances to vary. You'll need to verify why they don't match, and adjust or fix them accordingly.

Balances may not match for a number of reasons:

  • Outstanding transactions
  • New transactions for a connected account
  • Duplicate transactions
  • Edited or deleted transactions
  • Credit card (liability) account

The following sections provide information about each of the possible reasons your balances don't match.

Outstanding transactions

If you write a check or make a deposit in QuickBooks Online, the amount is deducted from, or added to, your QuickBooks bank account register. If the transaction has not been cleared or posted on your bank yet, your QuickBooks register balance will be different from your actual bank balance.

For example:

  • Your bank balance is $1000 with one outstanding check for $100.In QuickBooks Online, the outstanding check is entered in the register as if it has already cleared the bank, reducing the QuickBooks Online register balance by $100, to $900.However, your bank balance continues to be $1000 until the outstanding check has cleared.
  • Your bank balance is $1000 with one outstanding deposit for $100.In QuickBooks Online, the deposit is entered in the register as if it has already posted on the bank, increasing your QuickBooks Online bank balance by $100, to $1100.However, your bank balance remains $1000 until you actually make the $100 deposit.

Recommended fix or action

To check for transactions that may cause a mismatch, you can customize your QuickBooks Online bank register to sort it by date, and compare the recent transactions to your bank account.

If you reconcile the account regularly, you can also sort by Reconcile Status to identify Not Reconciled or Cleared transactions and compare them to your bank balance.

New transactions for a connected account

If QuickBooks Online is connected to your bank, transactions that appear in the For Review tab can cause the balance not to match.

These transactions have been downloaded into QuickBooks but have not yet been added to your bank register. 

Only transactions in the register affect the QuickBooks Online bank balance.

Recommended fix or action

Add and match downloaded banking transactions should make your QuickBooks Online bank register balance match your actual bank balance.

Duplicate transactions

If transactions are incorrectly added to the register instead of being matched to a previously entered transaction, the transactions may be duplicated, which affects the balance.

Recommended fix or action

To easily find and delete duplicate transactions, customize your register to sort it by amount instead of date. This makes it easy to compare transactions with the same amount and identify possible duplicate.

You can also undo transactions you have accepted incorrectly, and then add and match them again.

See Add and match downloaded banking transactions for detailed steps.

Edited or deleted transactions

Editing or deleting transactions that are already in your register can cause discrepancies between the bank balance and the balance in QuickBooks Online.

Recommended fix or action

While you cannot undo deleted transactions, you can check your audit logs to verify details of edited or deleted transactions to see whether editing or deleting those transactions affected your balance.

Credit card (liability) account

Credit card (or liability) accounts have the opposite accounting effect on your books than bank (or asset) accounts do. The Bank Balance column for these accounts is normally negative.

Recommended fix or action

Verify that the Balancecolumn is correct (positive). If the Balance column is negative, see the steps in the Record credit card payments article for help in troubleshooting your credit card balance.

Still having problems?

If you're still having problems with mismatched balances, these articles may help you.

Your books done right - guaranteed.

Get a QuickBooks-certified bookkeeper to categorize transactions and reconcile your bank statements every month so your books are always 100% accurate. Learn more about QuickBooks Live Bookkeeping.

Was this helpful?

You must sign in to vote, reply, or post