What does the total "in quickbooks" banking reflect.It does not even come close to bank balance

It's great to have you here in the Community, sallie.

In QuickBooks Online, there are factors that affect the balance of your bank accounts. Among these factors are mainly your downloaded bank transactions. I'm here to help you clear things out.

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.

Now to fix this and if you want to make sure they're equal, let's consider categorizing and matching your downloaded transactions based on your bank statement. You can do so by following the steps outlined in this article: Categorize and match online bank transactions in QuickBooks Online.

On top of that, I've also included this reference helpful with the resources needed while working with bank feeds and reconciling accounts: How to reconcile your accounts so they always match your bank and credit card statements?

Don't hesitate to post again here if you have other questions or concerns with QuickBooks tasks and navigations. I'm always around happy to help. Take care and stay safe!

ihave them all catorgized and matched, reconcile is current and no issues,It would be smashing to have what quickbooks says we have, its over by a HUGE amount..Please advise

Thank you for posting in the Community, sallie. Let me assist you with your concerns about the in-Quickbooks balance and the bank balance in QuickBooks Online (QBO).

There are several reasons why your bank register balance in QuickBooks Online is different from your actual bank balance. These would need to be rectified when you ascertain the cause of the mismatch.

Balances may not match for several reasons:

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

On the other hand, manually entered transactions in QBO affect the In-QuickBooks balance. That said if you have transactions that have been manually entered into your company file the amount will add up or vice versa to the QuickBooks balance.

You’ll also want to check out this article to find out the recommended fix for the mentioned reasons: Fix issues for accounts you've reconciled in the past in QuickBooks Online.

If you have other concerns with any QuickBooks-related matters, please let me know by posting them in this thread. Have a good one!

Good Morning,

Issue still has not been resolved.Please advise next step

Thanks for getting back with the Community, salliethorn-gmai.
 

Since your account's balance in QuickBooks isn't matching the actual bank account's balance outside of your books, I'd recommend reviewing the opening balance.
 

Here's how:
 

1. In your left navigation bar, go to Accounting, then Chart of accounts.
2. Find the account on your list.
3. Click View register.
4. Search for its opening balance entry. It should say "Opening Balance Equity" in the Account column.
5. Take note of your opening balance entry's date and amount.

Next, you'll want to compare its opening balance with the official bank records:
 

1. Sign in on your bank's website. You can also use a statement for this part.
2. Check the account's balance for the same day as its opening balance in QuickBooks.
3. Compare your two balances.

If the opening balance in QuickBooks doesn't match your bank records, correct it by selecting the opening balance entry and editing its balance in your Deposit column, then save the changes.
 

In the event your balances match, you entered a correct opening balance and will want to move on to reviewing the account's register.
 

You'll also be able to find many detailed resources about using QuickBooks in our help article archives.
 

If there's any questions, I'm just a post away. Have a great day!

there is not a opening balance equity showing ANYWHERE ! please advise.

Sallie, thanks for coming back to the forum. I'm here to assist you with displaying the opening balance in the View register.

Your real-world bank and credit card accounts should correspond with your QuickBooks accounts. I appreciate you following my colleagues' steps to help you isolate your issue. Since you don't see an opening balance, please take note of the date and amount of the oldest transaction in the account. Then, let's create a journal entry. I'll show you how:

1. Click + New, then select Journal entry.
2. Enter a date that is before the account's oldest transaction. It is the opening balance date.
3. Select the dropdown menu on the first row of the Account column to choose the account for which you want to enter the opening balance.
4. Add a note in the Description area to know why the journal entry is there.
5. Choose Opening Balance Equity from the second row's dropdown menu in the Account column.
6. Enter the balance of your real-life account on the date you selected as the opening balance based on your bank statements.
7. Enter the debits and credits corresponding to the account type you specified in the first row.
8. Hit Save and close.

Once done, let's mark the journal entry as reconciled. Please proceed with the following steps below:

1. Select the Accounting menu, then choose Chart of Accounts.
2. Locate the account and click View register in the Action column.
3. Search for the journal entry you just created. Select it to expand the tab.
4. Repeatedly click the box in the checkmark column until you see an R. This reconciles the journal entry.
5. Select Save.

The opening balance is reconciled in your account now that you've made a journal entry. Hence, QuickBooks won't include it in further reconciliations and should bring your accounts into balance.

A well-organized and correct chart of accounts is necessary to maintain accurate financial records. Let's ensure any accounts that affect your Balance Sheet have an opening balance. This article teaches you how to generate and manage an opening balance for a bank, credit card, and other types of accounts: Enter and manage opening balances in QuickBooks Online.

Please get back to us if you have additional queries regarding your bank balance or any QuickBooks-related concerns. We're available 24/7. Keep safe!

Does the categorizing/matching when added or confirmed affect the banking total shown on the screen, business share draft total?

Thanks for joining the thread, @Cant2. 

Yes, only if the transactions are categorized (added/matched) it will affect the balance shown. However, if the entries are still under the For review tab, you may need to add them first to be under the Categorized tab.

Also, if you have any unwanted transactions you may Exclude them from your account. 

Furthermore, you'll want to check the article reconciling your account to make sure they'll always match your credit and bank statements. 

Please do not hesitate to go back to this thread should you have banking and any QuickBooks-related queries, I'll keep an eye out. Keep safe.