Bank Balance does not match QBO Balance

Hello there, @abhibhatt23.

The bank balance will only depend on the update on your Financial Institution, while the QuickBooks balance will change when you add transactions in your QuickBooks Online account.

However, if your bank balance will not update automatically, we can manually do it to match your recent financial bank institution.

Here's how:

1. Go to the Banking menu.
2. From the Banking page, select Update.
3. Enter your Multi-Factor Authentication (MFA) credentials.
4. Select Continue update.

To learn more about updating your bank balance, you can read this article: Manually download online bank transactions in QuickBooks Online.

You can also match and categorize your bank transactions to prevent duplicate activities.

Feel free to drop a comment below if you have other questions. I'm always happy to help. Take care!

Thank you for the response. The bank balance is up to date and the QBO balance only has the appropriate transactions (no duplicate or manual transactions). Please see attached screenshot. For example, with the PayPal account it shows that there are 8 unreconciled transactions, however, these transactions relate to August and do not need to be reconciled yet so I'm not sure why the bank and QBO balance do not agree.

Hey there, abhibhatt23.

Thanks for dropping by, without being able to actually dive into your account and see where the discrepancy is, I would recommend reaching out to our support team. They will be able to open up your account with you and see all the details, as well as make changes if necessary on the back end. To reach them, follow these steps. 

1. Contact us through your product

2. Sign in to your QuickBooks Online company.
3. Go to Help (?).
4. Select Contact Us.
5. Enter your concern, then select Let's talk.
6. Choose a way to connect with us:
   • Start a chat with a support expert.
   • Get a callback from the next available expert.

If you have any other questions, in the meantime, feel free to post here anytime. Thank you and have a nice afternoon.