My credit card accounts are reconciled but the "bank" and "in quickbooks" balances do not match.

Your concern ends here, @hello151.

The Bank balance displayed the amount of all transactions from your bank that have been posted or cleared. While the QuickBooks balance is the total balance of all bank transactions that you’ve added or matched to QuickBooks. 

Here are the most common causes why the bank and QuickBooks balance doesn't match:

• Outstanding/pending transactions
• New transactions for a connected bank account
• Duplicate transactions
• Edited/Deleted transactions
• Credit card (liability) account

There are different troubleshooting steps to fix the discrepancy based on what caused it. You can refer to this article, find which one fits your situation, and then follow the solution: Fix issues for accounts you've reconciled in the past in QuickBooks Online.

Just in case you want to learn more about some tips for working in QuickBooks bank feeds, you can check out this article for detailed information: Tips for Working in QuickBooks Online’s Bank Feeds: Matching Transactions.

Should you need any additional assistance with your bank and QuickBooks balances, I'm available here to help any time!

Non of these solutions seem right.  One of the balances is more than $45K off.  We are reconciled through the end of last month and there were not that many transactions for this month. 

this is for a credit card account

Thank you for the additional information, hello151.

You'll want to review your opening balance. If an opening balance is incorrect, it will affect all reconciliations. 

Make sure your opening balance is correct before checking your beginning balance. Then, move to the next step which is to check your bank statement. 

1. In QuickBooks, go to the Accounting menu.
2. Select Reconcile.
3. Review the account you selected in the Account drop-down menu.

Follow the next steps in this article: Fix issues for accounts you've reconciled in the past in QuickBooks Online.

Let me know if you need further assistance.

I am having the same issue. I have two credit card accounts and one has four sub accounts and the other has two sub accounts. The bank balance and the quickbooks balance are WAY OFF. It seems that the expenses from the sub accounts are rolling up to the main account that gets reconciled but the payments to that main credit card are not rolling down to the sub accounts so the balance just continues to grow. Is there anyway to fix this?

Welcome to the Community, @joshvb. Let's work together to ensure your credit card account balance in QuickBooks Online (QBO) matches your actual bank balance. 

Several factors may affect the balance of your bank accounts. The QuickBooks balance varies depending on the transactions in the register and the ones you haven't reviewed yet. On the other hand, the bank balance relies on the entries on the register. To resolve this, you may want to categorize and match your downloaded transactions based on your bank statement. 

When reconciling, you only need to reconcile the parent account because all transactions in the subaccounts roll up into it. If there's a difference between the ending balance in QuickBooks and your bank statement, I recommend reviewing the opening and beginning balances. Then, ensure you entered the correct ending balance from your bank statement. 

For more detailed instructions, please see this article: Fix issues at the end of a reconciliation in QuickBooks Online.

Furthermore, QBO automatically creates a reconciliation report after you reconcile. It summarizes the beginning and ending balances as well as the list of cleared and uncleared transactions, which is helpful when you encounter issues reconciling the following month. 

The Community welcomes you with open arms whenever you have further concerns managing your credit card accounts in QBO. Just leave a reply below, and I'll get back to you right away to assist you. Take care, and have a great rest of the day.

Hi JaeAnnC! Thanks for getting back to me. I reviewed your message and actually reviewed all those articles before posting here. For the piece where you said you only have to reconcile the parent account, that is what I have been doing and it is reconciled through the end of October 23. It reconciles perfectly every month. The problem is, it doesn't appear that when the credit card payment hits the parent account, that it has any affect on the sub accounts so those balances just continue to grow and grow and grow even though it is getting paid off every month. This is where my issue is. Any ideas?

I want to acknowledge your efforts in reviewing the articles provided and reconciling your parent account monthly, @joshvb. I am here to assist you in correcting the reconciled parent account and balance it out.

It is important to note that recording transactions in sub-accounts will affect the parent balance, but entries in the parent account will not affect the sub-accounts. Therefore, in your case, you need to move the credit card payments from the parent account to the sub-account. This will zero out the balances from those accounts.

See these screenshots for your reference:

Once done, you only need to reconcile the parent account since all the transactions in the sub-accounts will roll up into it. If you want to know more about the process, you can check out this article: About bank or credit card sub-account setup. 

Additionally, here's an article that can help you review your accounts and ensure that your entries in the program match your real-life bank or credit card transactions: Reconcile an account in QuickBooks Online.

Feel free to mention my name in the comment section if you have clarification on this matter or other concerns. I'm always here to help you. Have a great day!

OK, that is very helpful @JamaicaA . I think I am finally getting somewhere . So in the future when credit card payments are made, I will apply the payments to the sub accounts. 

My last question would be, is there anyway I can fix the past? I have several years of credit card transactions that have built up on the sub accounts but the parent account received the payments and not the sub accounts.

Thank you for the prompt response, @joshvb. I'm glad that the information provided by my colleague was helpful to you. I want to add some details regarding the reconciliation process of your past transactions.

Yes, there's a way to fix it. The solution is to reconcile all of your previous transactions manually. It's highly recommended that you consult an accountant to assist you with this process. Here's an overview of the steps that you need to follow:

1. Review the original opening balance.
2. Check your bank statement.
3. Match and categorize downloaded transactions.
4. Review any discrepancy reports.
5. Start reconciling.

For a detailed information, please refer to this article: Fix issues for accounts you've reconciled in the past in QuickBooks Online. 

Once you have reconciled your account, you can generate a reconciliation report for that session.

If you have any further questions about matching your bank feed transactions to QuickBooks Online (QBO), the Community is here to help you. Take care.