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Rev1
Level 1

Bank Balance does not match Ending Balance

I have reconciled all my bank accounts and each month had a zero balance and it was matched accurately. When i look at my balance sheet under banking i have a negative value. I am not sure what is the reason we have a positive ending balance for all our bank accounts? Would i be able to create a journal entry to match the closing balance? If so what will be the entries?

1 Comment
JessT
QuickBooks Team

Bank Balance does not match Ending Balance

Hi Rev1,

 

I'd not suggest creating journal entries to match your balance. Instead, you'll want to check your bank transactions to see if you have too much expenses that's causing a negative bank balance for the period indicated in your report. Just click the amount in each of your bank account on the Balance Sheet to see the transactions.

 

I'd like to clarify if the negative balances you mean is the balances of the individual bank accounts on the Balance Sheet or in the Chart of Accounts. Thanks in advance.

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