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RuzzetteAng
Level 2

Cash in book balance dramatically overstated

I was done with the recent month-end reconciliation of our main checking account. However, bank and book cash balance not match as cash in QBO was overstated due to major A/R adjustments. 

 

Any idea how to fix this? Adjusted a lot of A/R because it was posted incorrectly (not matched with the correct customer) so I unmatched and reentered them again. 

 

Thank you. 

 

 

Solved
Best answer November 08, 2018

Best Answers
SophiaAnnL
Moderator

Cash in book balance dramatically overstated

We're going to fix the discrepancy based on how you handled the A/R transactions, RuzzetteAng.

For the edited transactions, we recommend checking the audit logs to see what caused the issue. Some of the reasons why your bank balance does not match QuickBooks are as follows:

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

Aside from unmatching and reentering your A/R, you probably have other transactions that fit the reasons above. I'd suggest checking them, and following the steps in this article to fix the discrepancy: How to fix differences between QuickBooks balance and bank balance.

I'd be glad to hear if everything's balanced. Don't hesitate to come back if you need anything else.

View solution in original post

2 Comments
SophiaAnnL
Moderator

Cash in book balance dramatically overstated

We're going to fix the discrepancy based on how you handled the A/R transactions, RuzzetteAng.

For the edited transactions, we recommend checking the audit logs to see what caused the issue. Some of the reasons why your bank balance does not match QuickBooks are as follows:

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

Aside from unmatching and reentering your A/R, you probably have other transactions that fit the reasons above. I'd suggest checking them, and following the steps in this article to fix the discrepancy: How to fix differences between QuickBooks balance and bank balance.

I'd be glad to hear if everything's balanced. Don't hesitate to come back if you need anything else.

View solution in original post

RuzzetteAng
Level 2

Cash in book balance dramatically overstated

Hi Sophia, thanks for replying. I think the main reason is duplicate transactions. Should I delete them? 

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