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hasslefreehousek
Level 1

Is there a way to adjust your running balance on an account? My Paypal running balance is incorrect and it is showing an incorrect ending balance in QB.

 
3 Comments 3
Kristine Mae
Moderator

Is there a way to adjust your running balance on an account? My Paypal running balance is incorrect and it is showing an incorrect ending balance in QB.

Hello there, hasslefreehousek.

 

First, let's review your Paypal transactions. It's possible not all transactions are downloaded or created. If there are missing transactions, you can recreate them so the balance will be correct.

 

Though, you can also adjust the balance by creating a Journal Entry. Here's how:

  1. Click the Plus sign (+) icon.
  2. Choose Journal Entry.
  3. Fill in the necessary fields.
  4. Click Save and close.

As always, I suggest conferring with your accountant on the best way to categorize the entry. 

 

Let us know if you need our help. We're just around. 

kk70
Level 1

Is there a way to adjust your running balance on an account? My Paypal running balance is incorrect and it is showing an incorrect ending balance in QB.

I am experiencing a similar issue and would like to create a journey entry to fix the PayPal account balance. This would require giving a credit to the PayPal account (it is currently showing a balance of -$350 but we actually have $500 in the account. All of our other accounts are reconciled so I do not want to debit from any of those accounts. Is there another option to use? 

ZackE
Moderator

Is there a way to adjust your running balance on an account? My Paypal running balance is incorrect and it is showing an incorrect ending balance in QB.

Thanks for becoming part of the Community, kk70.
 

To properly identify which account you should debit from while creating a journal entry, I'd recommend working with an accounting professional. If you're in need of one, there's an awesome tool on our website called Find a ProAdvisor. All ProAdvisors listed there are QuickBooks-certified and able to provide helpful insights for driving your business's success.
 

Here's how it works:

 

  1. Go to our Find a ProAdvisor page.
  2. Use the City or ZIP search field to specify a location.
  3. Select Find a ProAdvisor.
  4. Browse through your results and find one that works best for the business. You can click on each ProAdvisor's profile to learn more information about them.

 

Once you've found an accountant, they can be contacted through their Send a message form:
 

  1. Use the available text box to introduce yourself. Be sure to include details about which services you're looking for.


     
  2. Enter your appropriate info in the Your nameYour email, and Your phone number (optional) fields.


     
  3. Hit Send message.


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

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

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