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Level 1

Can anyone explaine why my QB balance shows $150,000.00 more then my bank bal.???? So far QB have not been able to hepl me..

 
3 Comments 3
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QuickBooks Team

Can anyone explaine why my QB balance shows $150,000.00 more then my bank bal.???? So far QB have not been able to hepl me..

Glad to see you in the Community, ginasomerruk.


Allow me to explain why your QuickBooks balance doesn’t match with the bank balance.


The QuickBooks balance is the total balance of all bank transactions that you’ve added or matched to QuickBooks. While the data on the Bank balance depends on the added or matched transactions, and what your financial institution shares with us.


Let me share the following factors that causing both balances to be off:

 

  • Outstanding transactions.
  • New transactions for a connected account.
  • Duplicate transactions.
  • Edited or deleted transactions.
  • Card (liability) account.

The steps to fix the issue will vary depending on what’s causing the discrepancy. Let’s review the opening balance and compare the amount to your real-life account. Sometimes the opening balance doesn't include transactions that were still pending when you made the account.

 

Here’s how:

 

  1. Go to the Accounting menu on the left panel to choose Chart of Accounts.
  2. On the Bank and Credit Cards page, look for the account you’re working on.
  3. Click View register under the Actions column.
  4. From the list, look for the opening balance and note of the date and balance.
    qb bal1.png
  5. If it's incorrect, click on the opening balance to expand the line.
    qb bal2.png
  6. Then, go to the Deposit column to change the amount to the right one.
  7. Press the Save button to keep the changes and click Yes to confirm the action.

To continue resolving the issue, follow the instructions in the Fix beginning balance issues during your first reconciliation in QuickBooks Online guide and perform Step 3.

 

With these steps, balances will show the correct amount.

 

I'm also adding an article that will guide you on how to resolve beginning balance issues. It also contains a video for visual reference as well as a link to help you match and categorize entries: Fix beginning balance issues if you've reconciled the account in the past QuickBooks Online.

 

Reach out to me if you need further assistance with any of these steps. I’ll be right here to help and make sure you’re taken care of. Have a good one.

Highlighted
Level 1

Can anyone explaine why my QB balance shows $150,000.00 more then my bank bal.???? So far QB have not been able to hepl me..

This did not work!  my accounts have been reconciled and up to date,


@Rasa-LilaM wrote:

Glad to see you in the Community, ginasomerruk.


Allow me to explain why your QuickBooks balance doesn’t match with the bank balance.


The QuickBooks balance is the total balance of all bank transactions that you’ve added or matched to QuickBooks. While the data on the Bank balance depends on the added or matched transactions, and what your financial institution shares with us.


Let me share the following factors that causing both balances to be off:

 

  • Outstanding transactions.
  • New transactions for a connected account.
  • Duplicate transactions.
  • Edited or deleted transactions.
  • Card (liability) account.

The steps to fix the issue will vary depending on what’s causing the discrepancy. Let’s start by comparing the bank's opening balance in your register and the one in your bank statement. Here’s how:

 

  1. Go to the Accounting menu on the left panel to choose Chart of Accounts.
  2. On the Bank and Credit Cards page, look for the account you’re working on.
  3. Click View register under the Actions column.
  4. Then, find the opening balance.
  5. If it’s incorrect, enter the correct amount to correct the balance. For detailed instructions, follow the instructions in the Fix beginning balance issues during your first reconciliation in QuickBooks Online guide and perform Steps 2-3.

These steps will get the QuickBooks Balance and Bank balance to match.


Reach out to me if you need further assistance with any of these steps. I’ll be right here to help and make sure you’re taken care of. Have a good one.


 

Highlighted
QuickBooks Team

Can anyone explaine why my QB balance shows $150,000.00 more then my bank bal.???? So far QB have not been able to hepl me..

Hello, @ginasomerruk.

 

To further check what’s causing the error, I suggest reaching out to our Customer Support team. Their tools can get into your account in a secure environment and isolate the issue that you're having and help you resolve it. 

    

 You can arrange a callback from them by going to the Help icon at the top right of your account. Follow the steps below: 

  1. Go to the Help icon to connect to a live support agent. 
  2. Click on the Contact Us button and provide some details about this concern.
  3. After adding some insight, tick on the Let's talk button. 
  4. Lastly, select the Get a callback button to arrange a call from them. 

Here's the contact the QuickBooks Online Customer Support team article for more information.

 

Please let me know if you have any questions. I'm always here to help. 

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