Why would the Bank Balance be different than the Register Balance after a successful Reconciliation?

SCondon · ‎October 03, 2024

Bryan_M · ‎October 03, 2024

Thanks for posting in the Community, @SCondon. I'll share information on why Bank Balance is different from the Register Balance after a reconciliation.

There are several factors that cause the difference. You can check the lists below:

There's an outstanding transaction.
New upload transaction to the connected account after the reconciliation.
Edited or deleted transactions.
Credit card (liability) account.

To fix this, I recommend matching and categorizing all your downloaded transactions and making all the necessary corrections to your entries. You can use your bank statement as a reference when performing these procedures. For the complete guide, please see this article: Fix issues for accounts you've reconciled in the past in QuickBooks Online.

You can also check the Audit log section to see if someone made changes before and after the reconciliation that caused the difference in balance. Here's how:

Select Audit log from the Settings tab.
Click the Filter tab.
Choose the correct User, Date, or Events filter to narrow the results.
Then, click Apply.

Check out this article for more information: Use the audit log in QuickBooks Online.

Also, to correct the reconciled period, you can undo the reconciliation process. For more insights, you can use this article: Undo and remove transactions from reconciliations in QuickBooks Online.

I'll also share this article to learn how to delete or void the transactions added: Void or delete transactions in QuickBooks Online.

I'm all ears if you have other concerns about managing your Bank and Register balance in QBO. You can drop a comment below, and I'll gladly help. Take care, and have a good one.

View solution in original post

Bryan_M · ‎October 03, 2024

Thanks for posting in the Community, @SCondon. I'll share information on why Bank Balance is different from the Register Balance after a reconciliation.

There are several factors that cause the difference. You can check the lists below:

There's an outstanding transaction.
New upload transaction to the connected account after the reconciliation.
Edited or deleted transactions.
Credit card (liability) account.

To fix this, I recommend matching and categorizing all your downloaded transactions and making all the necessary corrections to your entries. You can use your bank statement as a reference when performing these procedures. For the complete guide, please see this article: Fix issues for accounts you've reconciled in the past in QuickBooks Online.

You can also check the Audit log section to see if someone made changes before and after the reconciliation that caused the difference in balance. Here's how:

Select Audit log from the Settings tab.
Click the Filter tab.
Choose the correct User, Date, or Events filter to narrow the results.
Then, click Apply.

Check out this article for more information: Use the audit log in QuickBooks Online.

Also, to correct the reconciled period, you can undo the reconciliation process. For more insights, you can use this article: Undo and remove transactions from reconciliations in QuickBooks Online.

I'll also share this article to learn how to delete or void the transactions added: Void or delete transactions in QuickBooks Online.

I'm all ears if you have other concerns about managing your Bank and Register balance in QBO. You can drop a comment below, and I'll gladly help. Take care, and have a good one.

SCondon · ‎October 07, 2024

Thank you Bryan, this was helpful information.

RheaMaeH · ‎October 07, 2024

You're very welcome, SCondon.

I'm delighted to hear that my previous colleague's response was helpful to you. Your positive feedback motivates us to continue delivering top-notch solutions for all your inquiries.

For future reference, I recommend checking out this informative article on how to unreconciled an individual transaction from a completed reconciliation: Undo and remove transactions from reconciliations in QuickBooks Online

Should you require further assistance managing your Bank and Register balance, please don't hesitate to reach out by clicking the Reply button. We're always here to support you.

Shirley631

I am having this issue with my QB acct, checking acct, and savings. The savings is the easiest to poke around with because it only has transfers and interest. I've reconciled every month and it shows no discrepancies yet the bank balance is $22K more than the QB balance so my report is no good for balance summary. I review the register and every transaction is labeled transfer or interest earned. What's wrong?

FateCandylaneT

Let me help share information on how your Bank and QuickBooks balances work for your bank account in QuickBooks Online (QBO), Shirley631.

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

The QuickBooks balance is affected by all your transactions in the register and those you haven't reviewed yet.

On the other hand, bank balance is solely determined based on the transactions on the register and is the sum of all bank transactions that you've added or matched.

Thus, I recommend categorizing and matching your downloaded transactions based on your bank statement to check what causes the difference and fix this issue. You can do so by following the steps outlined in this article: Categorize online bank transactions in QuickBooks Online.

Additionally, you'll want to seek additional guidance from our Live Expert Assisted team to help you keep track of your overall transactions.

Moreover, you'll want to review and fix issues for accounts you've reconciled in the past. It'll help you ensure your other financial data and banking entries are matched.

You can access our team through the reply button if you need additional assistance managing your balances in your account. Keep safe.

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Why would the Bank Balance be different than the Register Balance after a successful Reconciliation?