How to fix cash basis reports; bank balances are dramatically different than accrual reports after migration.

Hi DebC12,

There are few things you need to know when generating financial reports especially Profit and Loss in QuickBooks.

Income on the accrual basis includes all bills sent to your customers, regardless of whether you've received payment or not. While income on a cash basis only includes revenue that your customers have paid to you. Expenses on the accrual basis include everything you owe, regardless of whether or not you've sent a payment. While Expenses on a cash basis include only the values that you have already paid.

If the missing entries should be included on the cash report, let's run the report on an incognito window. 

We can use these keyboard shortcuts to open one:

• Google Chrome: Ctrl + Shift + N
• Mozilla Firefox: Ctrl + Shift + P
• Microsoft Edge: Ctrl + Shift + P
• Safari: Command + Shift + N

If it works, we can go back to a regular browser and clear its cache. We can also switch to a different supported browser like Google Chrome, Mozilla Firefox, Safari, or Microsoft Edge as alternative.

You might want to visit this article about cash and accrual accounting. This provides further information on how each one works so you can choose the best bookkeeping practices for your business.

You're always welcome to visit the Community. Don't hesitate to get back to us if you have other concerns. Take care!

Thanks for the reply. I understand the difference between cash and accrual reports. 

Bank balances should remain the same with both reports. My reports on the cash reports show my bank balances in the negative millions, whiile my accrual report has the correct balance.  Clearly, the cash reports are off because of the migration, but I'm not sure how to fix it.

Good day, @DebC12.

Did you get the same result after following the steps that were shared above?

If so, I'd recommend reaching out to our QuickBooks Support Team. This way, our Data Services team can check your account and fix the discrepancy in your report.

Here's how you can reach out to them:

1. Click the Help menu in the upper-right hand corner and click Talk to a human.
2. Type in "Talk to a human", then press Enter.
3. Look for I still need a human and click on it.
4. Select Get help from a human.
5. Choose between Chat with us, Schedule an appointment, or Have us call you.

 
Please check out our support hours to ensure that we address your concerns on time.

Additionally, here are some resources you can use in managing your reports in QuickBooks Online (QBO): 

• How to memorize reports in QBO.
• How to customize reports in QuickBooks. 

Let me know how it goes adding a comment down below. I'm always here to help you. Keep safe.

Yes, completed the steps above with the same results.

I have also spoken to Quickbooks Support Team at least five times, spending hours with them on the phone. They have all told me that cash report can be expected to have discrepancies after migration. They said their guides offer no solution on how to fix. 

I am having the same issue brought over a desktop file to online and on cash basis reports my cash balance is in the negative millions as though no deposits went through over the last 10 years and it is creating a negative RE too.  Only on cash basis reports did you get a resolution to this issue? 

Welcome to QuickBooks Online, @Dinobja. Allow me to give you some insight about importing data from QuickBooks Desktop to QuickBooks Online.

Before importing, there are things you need to know:

• After signing up for QuickBooks Online, you have 60 days to relocate a company file.
• If you've previously set up payroll in QuickBooks Online, move your lists instead of your company file.
• Because of feature incompatibilities, some of your lists and reports will not be converted.

Let make sure you can import the data to QuickBooks Online, Here’s how:

1. Log in to the company file you want to import as an administrator.
2. Select Export Company File to QuickBooks Online from the Company menu
3. Start your export by selecting this option.
4. Log in to your QuickBooks Online firm as an administrator.
5. Choose the QuickBooks Online company you want to be replaced by your company file from the Choose online company menu.
6. Continue is the option.
7. Select Replace after typing "Agree" in the text field.
8. Select Yes, then replace the data before selecting Replace.

you can utilize this article for your reference.

 
If your reports are in sync, you can begin using QuickBooks Online. If your reports don't match, take the following steps:

1. You can refer back to this article to see what happened to your data when you switched from QuickBooks Desktop to QuickBooks Online.
2. Please contact us if you continue to have problems with your reports. We can assist you in contacting our Data Services team to resolve any report issues.

 
Furthermore, have this article for your future reference:

• Run reports in QuickBooks Online.
• Customize reports in QuickBooks Online.

 
Let me know if you have additional queries about importing data in QBO. I’m here always.