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andrea1349
Level 2

error in bank balances

I have a problem I've never seen before.  I have 2 bank accounts in this particular QB company file.  One is the payroll account, one is the operating account.  In the chart of accounts, the balance for each one is off.  But when you click on the account to open it, it shows the correct balance...one each account.  The amount that the operating account is off by, from the chart of accounts balance to the balance when you click on it, is the same amount the payroll account is off by for the same thing.  For example... in the chart of accounts it shows operating account $4,000, payroll account $3,000.  When you click on the operating account and open it up, is shows the balance is $3,600 (which is correct).  And when you click on the payroll account and open it, it shows the correct balance at $3,400.  So the are both correct when you click on them and open them, but in the summary on the chart of accounts page, each one is off by $400.  I hope that makes sense.

Solved
Best answer October 16, 2020

Best Answers
MadelynC
QuickBooks Team

error in bank balances

I’ll make sure these balances will match accordingly, @andrea1349.


Data damaged might be the reason why summary balances on your Chart of account page appear incorrectly. Re-sorting the lists can help you fix them.


This method puts your records back in order. If you’ve manually changed the order of a list, re-sorting it will undo your changes.


Before performing any steps, I recommend creating a backup file so you can restore your data in case the unexpected happens. And make sure to switch to single-user mode before you start re-sorting if you’re in multi-user mode. Then follow these instructions below:

 

  1. From the Lists menu, go to Chart of Accounts.
    Capture.PNG
  2. Click the Include Inactive checkbox.
  3. Go to the Account dropdown, choose Re-sort List.
    Capture 1.PNG
  4. Select OK.
    Capture 3.PNG
  5. Close and reopen your company file.


Then check if those balances are now matched. If the same thing happens, you can use the Verify Rebuild Data tool in QuickBooks Desktop. It identities and resolve common data issues within your company file.


I've attached an article here to learn more on how to organize your Chart of Accounts in QuickBooks.


Let me know if you have other questions or concerns aside from bank balances. I’ll be here anytime to help you further. Have a good one.

View solution in original post

2 Comments
MadelynC
QuickBooks Team

error in bank balances

I’ll make sure these balances will match accordingly, @andrea1349.


Data damaged might be the reason why summary balances on your Chart of account page appear incorrectly. Re-sorting the lists can help you fix them.


This method puts your records back in order. If you’ve manually changed the order of a list, re-sorting it will undo your changes.


Before performing any steps, I recommend creating a backup file so you can restore your data in case the unexpected happens. And make sure to switch to single-user mode before you start re-sorting if you’re in multi-user mode. Then follow these instructions below:

 

  1. From the Lists menu, go to Chart of Accounts.
    Capture.PNG
  2. Click the Include Inactive checkbox.
  3. Go to the Account dropdown, choose Re-sort List.
    Capture 1.PNG
  4. Select OK.
    Capture 3.PNG
  5. Close and reopen your company file.


Then check if those balances are now matched. If the same thing happens, you can use the Verify Rebuild Data tool in QuickBooks Desktop. It identities and resolve common data issues within your company file.


I've attached an article here to learn more on how to organize your Chart of Accounts in QuickBooks.


Let me know if you have other questions or concerns aside from bank balances. I’ll be here anytime to help you further. Have a good one.

View solution in original post

andrea1349
Level 2

error in bank balances

resorting the accounts didn't help, but the verify and rebuilt fixed the problem!  Thanks

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