Hi, The savings account in the bank is $50k more than QB. I know what the transaction is, but can't offset it to balance it out.

I can help you figure this out, Lisa Spinale.

I'm here to share some ideas on how you can resolve the difference on these balances. 

Bank balance difference can be caused by edited, deleted, moved, outstanding transactions, or unreconciled a transaction that was on a previous reconciliation. This can also happen if new transactions are not yet cleared or downloaded from your bank. 

If the bank balance is higher than your QuickBooks balance, follow the recommended troubleshooting steps in this article on how to resolve balance issues in QuickBooks Online: Fix issues for accounts you've reconciled in the past in QuickBooks Online.

Please let me know if you have any other banking concerns. I'll be right here to keep helping.

I will check into this. Thank you. Also, at the end of the year, do I "close the books" in quickbooks to start fresh for the year? Please advise on the steps. 

Thanks for getting back to us, @Lisa Spinale.

Yes, closing your books at the end of the year helps you start fresh at the beginning of the year. Also, closing your books prevents unwanted changes before filing your taxes, so no one can edit your accounting data before the closing date. Let me guide you how.

1. Sign in to QuickBooks Online as a master or company admin.
2. From QuickBooks Online, click the Gear icon (⚙) and select Account and Settings.
3. Select the Advanced tab and click the Accounting section. Check the box to Close the books.
4. Enter the Closing date.
5. Set whether a password is needed to change closed transactions.
6. Select Save and then Done.

For detailed steps, check out this article: How to close the books.

Also, I've attached these articles that can help you manage the different task in QuickBooks:

• QuickBooks Online year-end guide and checklist
• Help Articles

Please know that I'm just a reply away if you have any other concerns with QuickBooks. I'd be happy to help. Thanks for coming and have a great day!