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Should my Bank Balance = "In Quickbooks" ?

I'm asking this question because for the first 4 months of using Quickbooks Online my "In Quickbooks" balance was always my Bank Balance + Unpaid Invoices.
Now, something changed.
My Quickbooks balance always equals my bank balance even though I have Unpaid Invoices in the Que. 
I have always been set to use the Accrual Method, never the cash method and it is still set that way.
Someone told me it may have to do with using the built in Accounts Receivable account.
But I'm not familiar with that.  (perhaps I should be)

If anyone could take me to school a bit here, I would be ever so grateful.
I can't seem to find answers to this online and the chat as well as the phone support didn't have an answer for me either.
The phone support (that got escalated) said they should always match and challenged my memory that they once did not.  LOL

Thank You
Rick

1 Comment
Moderator

Re: Should my Bank Balance = "In Quickbooks" ?

Hi there, @ScubaDad.

 

Welcome to the Community. I can share some reasons why your Bank Balance is not the same with the In QuickBooks amount.

 

There are several factors which cause the variation of your balances. Here are some:

  • Outstanding transactions
  • New transactions for a connected account
  • Duplicate transactions
  • Edited or deleted transactions
  • Credit card (liability) account

You can verify this by running through each transaction. Also, for more information and on how to fix it, you can refer to this article: How to fix differences between QuickBooks balance and bank balance.

 

That's it. Don't hesitate to add a comment if you have additional questions. I am always here to answer them for you. Have a great weekend!