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Quick books not matching with the bank

 
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QuickBooks Team

Quick books not matching with the bank

Welcome to QuickBooks Community @lifelinevc.

 

There are some factors why balances don't match.

 

Here are the reasons:

  • Outstanding transactions
  • New transactions for a connected account
  • Duplicate transactions
  • Edited or deleted transactions
  • Credit card (liability) account

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

  1. Select Accounting menu, then Chart of Accounts.
  2. Look for the account on the list.
  3. Select View register.
  4. Search for the opening balance entry. This transaction should have "Opening Balance Equity" in the Account column.

If there's no opening balance equity recorded, enter the balance by following the steps outlined in this article: What to do if you didn't enter an opening balance

 

After that, compare the Quickbooks balance with your bank statement by signing in through your online banking. Some transactions may not have been downloaded to QuickBooks Online. You can manually update your bank account to refresh the bank page and pull up new transactions. 

 

Here's how:

1. On the left pane, select Banking.

2. Select the account.

3. Click Update.

 

If the balance still does not match, I recommend checking the following article for additional troubleshooting steps ensuring that information matches betwenn QuickBooks and your bank: How to Fix Differences Between QuickBooks Balance and Bank Balance. From there, go directly to Step 3.

 

Drop me a comment if you have additional queries. I'll be happy to help you some more. Have a great day.

 

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