cancel
Showing results for 
Search instead for 
Did you mean: 
Highlighted
Level 1

In Banking, the "bank balance" shows $6501.06, but the "in quickbooks" balance is $3192.50 (which is the correct bank balance). How do I correct the the bank balance?

 
Solved
Best answer June 25, 2020

Best Answers
Highlighted
QuickBooks Team

In Banking, the "bank balance" shows $6501.06, but the "in quickbooks" balance is $3192.50 (which is the correct bank balance). How do I correct the the bank balance?

Let me ease your confusion, Juneaupoets@gmai.

 

The bank balance will depend on the transactions your bank shares to us or the added and matched transactions. While the In QuickBooks balance is based on the register.

 

Once the financial institution is connected, you will unlikely see the bank balance and QuickBooks balance match. Our program is dependent on what your bank shares. Each financial institution has different time increments when they send the transactions. Having said that, the reason behind this is timing. We don't need to correct anything. 

 

Although, if all transactions are downloaded from the bank already, I'll share some other reasons why the balances didn't match:

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

You'll want to check all transactions and bank account. 

 

I'll add the reference on how to match and categorize bank transactions in QuickBooks Online. This will help you review these transactions after being downloaded.

 

If any questions arise, please feel free to leave a comment below. Take care! 

View solution in original post

1 Comment
Highlighted
QuickBooks Team

In Banking, the "bank balance" shows $6501.06, but the "in quickbooks" balance is $3192.50 (which is the correct bank balance). How do I correct the the bank balance?

Let me ease your confusion, Juneaupoets@gmai.

 

The bank balance will depend on the transactions your bank shares to us or the added and matched transactions. While the In QuickBooks balance is based on the register.

 

Once the financial institution is connected, you will unlikely see the bank balance and QuickBooks balance match. Our program is dependent on what your bank shares. Each financial institution has different time increments when they send the transactions. Having said that, the reason behind this is timing. We don't need to correct anything. 

 

Although, if all transactions are downloaded from the bank already, I'll share some other reasons why the balances didn't match:

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

You'll want to check all transactions and bank account. 

 

I'll add the reference on how to match and categorize bank transactions in QuickBooks Online. This will help you review these transactions after being downloaded.

 

If any questions arise, please feel free to leave a comment below. Take care! 

View solution in original post

Need to get in touch?

Contact us