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Anonymous
Not applicable

Quickbooks Checking Account Statements are WRONG

Does anyone else have issues with their QB Checking account statements being incorrect??? I don't see how I'm supposed to reconcile this account when the statements are wildly inaccurate. I do not understand how they can continue to get away with these shady practices. For example, the month I started the account the statement Account summary shows:

Beginning Balance $0

Credits +$2,347.70

Debits -$1,288.54

Ending Balance $1,059.16

Calculate that & it comes out correct. However, the actual amounts are as follows:

Beginning Balance $0

Credits +$2,760.20

Debits -$2,160.20

Which does NOT come out to the ending balance. They don't show a running balance so there's no way to check the accuracy with that. How can an ACCOUNTING SOFTWARE COMPANY screw up something as simple as addition and subtraction???? Jump to the next month, the summary shows:

Beginning Balance $1,059.16(which we've established was incorrect)

Credits +$4,176.27

Debits -$4,181.01

Ending Balance $1,054.42

The actual Credits are $6,688.51 and the actual debits are -$6,871.11

 

I don't even know what to do with this. This is not my primary bank, however we are in a small town so our local bank is not really business friendly, so using the QB checking gives me more options for payroll and of course the HYS. Is there something I'm missing? I just don't see how I'm ever going to be able to reconcile this account like this. It's like they're literally pulling numbers out of the sky. I use QB desktop, but I have QB Money just to be able to use the checking account. 

4 Comments 4
Bryan_M
QuickBooks Team

Quickbooks Checking Account Statements are WRONG

We hear you, @Anonymous. For an incorrect QuickBooks (QB) Checking bank statement, you'll need to contact the partner bank that provided it. I'll share more information below.

 

Green Dot Bank is the banking service provider of QB Checking. I suggest contacting them to verify the accuracy of the bank statement they provide.

 

Moreover, QuickBooks Online (QBO) only depends on the data provided by your bank before reconciling them. 

 

Additionally, you can read this article to learn the overall process of reconciliation: Learn the reconciliation workflow in QuickBooks.

 

I'll also share this article to get answers to frequently asked questions about QB Checking: QuickBooks Checking FAQ.

 

Feel free to return here if you have additional questions about QB Checking bank statements. We'll be willing to help. Take care always,

Anonymous
Not applicable

Quickbooks Checking Account Statements are WRONG

Like always, this answer was completely useless. 

WhittyB
Level 1

Quickbooks Checking Account Statements are WRONG

Same here, so Quickbooks Checking is not through Quickbooks? We are dealing with the same thing. The Statements do not match the bank feed, and I QB will not allow me to delete what is not on the statement, which makes me question which is correct. Do you have a customer support number? 

Jovelyn_M
QuickBooks Team

Quickbooks Checking Account Statements are WRONG

Hi there, WhittyB.

 

QuickBooks Checking is a banking feature offered through Green Dot Bank, not a direct QuickBooks service. QuickBooks provides transaction management and viewing, while the actual banking services are handled by the partner bank.

 

Nevertheless, QuickBooks relies on the data from your connected bank for reconciliation to maintain accuracy and consistency in your financial records. If transactions appear on your bank statements, it's a good idea to verify them on your bank's website as well. If the transactions are present there, you can manually update them in QuickBooks. If they still do not show up in your bank feeds, you have the option to upload them manually.

 

Additionally, QuickBooks typically does not allow the deletion of transactions that are not reflected on your bank statement if they have been reconciled or marked as cleared. This restriction is in place to maintain accurate financial records.

 

Furthermore, you can visit this article to reach out our customer service support team, they have the resources to help with your mismatched statements and bank feeds promptly: Get help with QuickBooks products and services.

 

Finally, I'm adding this resource for future reference, on how to reconcile your accounts so they always match your bank and credit card statements: Reconcile an account in QuickBooks Online.

 

We stand ready to support your exploration of these options. For any queries or additional assistance about your mismatched statements and bank feeds, please use this communication channel. We value your consideration and are enthusiastic about helping you elevate the QuickBooks user experience.

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