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daxhenry47
Level 1

Please help me!!! I am having issues with my Quickbooks Online (actual bank balance and Quickbooks balance.

Good afternoon,

 

I am in some need for some real suggests on how to handle my Quickbooks Online Account. Here is the issue. Currently the companies actual and bank balance is like 2400.00. The Quickbooks balance is 374387.97. I know because the bank account balances that the Quickbooks balance is wrong. I took over Bookkeeping for this company recently and I am trying to clean up the account. Can someone please reach out so that I can discuss what is going  on and how I can go about getting everything to balance out. Currently I have many deposits that haven’t cleared the bank  majority of them in 2021 and I have found that some of them at least are double hitting the bank account. I know that if I delete one of the entries this could screw up my books. I am not sure what information someone would need to help me, but please reach out.

 

Dax

1 Comment 1
MirriamM
Moderator

Please help me!!! I am having issues with my Quickbooks Online (actual bank balance and Quickbooks balance.

Good day, @daxhenry47.

 

I'm here to help fix the bank balance in your QuickBooks Online (QBO) account.

 

The QuickBooks balance is the total amount of all bank transactions you matched or added to the system. There are some factors that affect the balance of your bank accounts. These are the following:

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

 

To rectify the issue, I recommend checking out the transactions added in QuickBooks. Then, compare them to your bank statement. For more detailed steps, I suggest following the instructions under Step 4: Review any discrepancy reports from this article: Fix issues for accounts you've reconciled in the past in QuickBooks Online.

 

You may also read these articles for further help:

 

Please reach out to me if there is anything else I can help you with. I'll always be here to assist you. Have a great day.

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