Why is the quickbooks balance different from the bank?

Hello 9130 3557 8008 2246,

Thank you for reaching out to the QuickBooks Community! Here are some reasons why the balances could be different:

• The beginning balance in QuickBooks Online is incorrect.
• Some transactions were entered incorrectly or duplicated.
• Previously reconciled transactions were edited or deleted.

If this is your first time reconciling the account, use this as a guide to correct the beginning balance: Fix beginning balance issues during your first reconciliation in QuickBooks Online.

If you've previously reconciled the affected account, use this for reference: Fix beginning balance issues if you've reconciled the account in the past QuickBooks Online.

Let me know how this goes for you! I'll be here if you need further assistance. Have a beautiful day.

Hello everything is fine?

I adjusted the opening balances of the bank accounts but still not, the Quickbooks balance is still different from the bank balance.

We didn't add any transactions manually, what's in Quickbooks is exactly the Bank's mirror, where can be the difference in this case?

I simulated a bank reconciliation and there is a difference of $320.00, how can I identify this difference? does not make sense if Quickbooks is a mirror of the company's account.

I have another question regarding the credit card balance, because if they are invoices by period, in this case, how should I consider it so as not to give differences in dates?

Let me shed some light on your concern. 

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.

In addition to my colleague's answer, these are some of the reasons that cause the difference: 

• Outstanding transactions.
• New transactions for a connected account.
• Card (liability) account.
• There are expenses that have cleared the bank but haven't been entered into QuickBooks.

To fix the issue, let's make sure to categorize and match your downloaded transactions based on your bank statement. Then, reconcile your account again. 

If the balances won't match, I recommend consulting with your bookkeeper. They can review your transactions and guide you on how to apply the permanent resolution. Reaching out to them ensures the accuracy of your banking records and QuickBooks. 

For more in-depth troubleshooting steps on how to resolve reconciliation discrepancies, you can go over these resources:

• Fix issues for accounts you've reconciled in the past in QuickBooks Online
• Fix issues at the end of a reconciliation in QuickBooks Online

You can also bookmark this link in your browser for future use: Banking Hub. It contains a list of topics that will help you handle online banking errors, make a deposit, and reconcile an account to name a few.

Reach out to me again if you have other banking concerns or questions about the product. I'm always ready to help you. 
 

Hello everyone!

I would like to share my opinion on the above, the difference in QB balance and the Bank balance is due to the following main two reasons;

1) Bank Balance include the Unprocessed Transactions also, QB won't be

2) Bank Balance include the Excluded Transactions also, (which is not processed in any other manner)

Thanks