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ejwillett
Level 1

Has anybody ever have all your debits and deposits and beginning balance match the banks when reconciling but qb shows to be out of balance?

 
1 Comment 1
Rasa-LilaM
QuickBooks Team

Has anybody ever have all your debits and deposits and beginning balance match the banks when reconciling but qb shows to be out of balance?

Thanks for reaching out to the Community, ejwillett.


I’m here to provide clarification why the QuickBooks Online balance and your actual bank balance don't match.


This could happen for a few different reasons. For example, there may be duplicated or edited transactions, outstanding checks, or new transactions for a connected account.


To rectify the issue, let's start by reviewing the opening balance in your account to make sure it's correct. Here's how:

 

  1. Go to the Accounting menu to choose Chart of Accounts.
  2. Look for the account you're working on and hit View register under the Action column.
  3. Search for the opening balance entry. This transaction should have "Opening Balance Equity" in the Payee Account column.
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  4. However, if there's no opening balance, enter the amount so it will not throw off your record.

Next, compare the Quickbooks balance with your bank statement by signing in through your online banking. For detailed instructions, perform Steps 2-3 in this article: Fix beginning balance issues during your first reconciliation in QuickBooks Online.

 

Additionally, this article provides an overview of the reconciliation process. It also contains instructions on how to reconcile an account connected to bank feeds or not: Reconcile an account in QuickBooks Online.


Reach out to me if you have any other concerns or questions. I’ll be right here to answer them for you. Enjoy the rest of the day.

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