Some factors can help us to identify the discrepancy between the balance shown in QuickBooks and your bank account, Rose. Let me explain why this might happen.
The QuickBooks balance represents all bank transactions you’ve added or matched within QuickBooks. That said, the bank balance reflects your bank's actual balance based on the most recent bank feed update. If your bank balance is larger than your QuickBooks balance, there may be transactions in the bank that explain the discrepancy. Here are some possible reasons for why these balances do not match:
- Outstanding transactions.
- New transactions for a connected account.
- Duplicate transactions.
- Edited or deleted transactions.
- Card (liability) account.
Based on the factors mentioned above, there are several steps you can take to address your issue. Here is an article that explains how to fix or adjust these factors: How to Fix Differences Between QuickBooks Balance and Bank Balance.
Furthermore, please check out our QuickBooks Live Expert Assisted team if you need further help categorizing your transactions in bank feeds. They can also assist you in understanding how each of them works and the data it contains.
Once you fix your balances, you can visit this article to reconcile your checking account: Reconcile an account in QuickBooks Online.
If you have any other concerns related to your account balances, please reply below. I’m here to assist you and ensure that all your inquiries are met with care and attention.
