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ferg-driving-gma
Level 1

If my bank account balance did not transfer over correctly, how do I change that?

The bank account balance column is not correct, how do i correct it?
1 Comment 1
FateCandylaneT
QuickBooks Team

If my bank account balance did not transfer over correctly, how do I change that?

Thanks for joining this forum, ferg-driving. It's crucial to identify the variances to maintain accurate financial records when bank balances don't align in your file. Let's work together and help you fix this to ensure the integrity of your accounting data.

 

Beforehand, may I know what specific financial institution is linked to your QuickBooks Online account? Were you experiencing issues with your bank transactions? You can also share detailed information, so I can provide accurate resolution to help address your concern. Any additional details are much appreciated.

 

In QuickBooks Online, some factors affect the balances of your bank accounts. Among these factors are mainly your downloaded bank transactions.

 

The QuickBooks balance is affected by all your transactions in the register and the ones you haven't reviewed yet. While the bank balance is solely determined based on the transactions on the register. 

 

With that, I recommend updating or importing the latest bank transactions into your QBO file. Then, make sure all entries are fully reviewed or categorized from the For review tab. Doing so will help ensure your QuickBooks and bank balances are accurate. To do this:

 

  1. Go to Transactions, then Bank Transactions.
  2. Select the tile for the account you want to review.
  3. Select the For review tab, then start your review.

 

For review tab.png

 

In addition to that, you may refer to this article for additional guidance: Categorize online bank transactions in QuickBooks Online.

 

Once ready, you can start reconciling your accounts to make sure they always match your bank and credit card statements. I've also included this guide if you encounter errors at the end of the reconciliation process: Fix issues at the end of a reconciliation in QuickBooks Online.

 

I'm all ears to any additional queries you may have when managing accounts and transactions in QuickBooks. You can always drop a comment below, and I'll be around to get you covered. Take care and have a good one!

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