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Frequent Explorer *

Checking Balance is $0 and QB Bank is correct

Hi there

I uploaded all my sales and undeposited funds into QB into the Undeposited Funds account. I then went in and linked them to the proper transaction once the money was transferred to my bank account. Now my "In quickbooks" balance shows the correct amount (that matches my true checking account balance), but my "Checking Bank Balance" still shows as $0.

 

Any tips on how to reconcile them so they both show the correct account?

3 Comments
QuickBooks Team

Re: Checking Balance is $0 and QB Bank is correct

Hi acma,

 

Sometimes, the two amounts will differ from time to time depending on your bank. The bank balance will include transactions that are still on processing status, but not yet posted. Thus, these transactions are not part of the "In QuickBooks" balance.

 

You can perform a manual update by following these steps:

  1. Click Banking.

  2. On the Banking page, select Update.

  3. If prompted, enter your Multi-Factor Authentication (MFA) credentials and select Continue update.

You might also want to check out this article for your reference: How to fix differences between QuickBooks balance and bank balance.

 

If you have any further concerns, please click the Reply button. I'm here to help.

Highlighted
Frequent Explorer *

Re: Checking Balance is $0 and QB Bank is correct

I dont currently have my bank account linked to my QB account, I've been reconciling them manually. 

 

Right now the "In quickbooks" amount shows the correct amount thats in my bank account, however the "bank balance" shows $0. Even when I run the balance sheet report, the the "assets" and "bank account" totals also show correctly. 

 

Just need help understanding why I cant get the number to appear properly in the "Banking" section of QB. 

 

thanks again

QuickBooks Team

Re: Checking Balance is $0 and QB Bank is correct

Good day, acmaj.

 

Thanks for getting back to us. Allow me to help provide some insights about the QuickBooks and bank balance. 

 

There are several factors may cause once the bank register balance in QuickBooks Online doesn’t match your actual bank balance:

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

To resolve this, you'll need to verify and adjust or fix them accordingly. You can check this article to find which one fits your situation, and follow the recommended solution: How to fix differences between QuickBooks balance and bank balance

 

If you need further assistance with the steps from our live support, I recommend contacting our QuickBooks Online Support Team. They have the tools to pull up your account and do a screen share.

 

Here's how you can contact our live support:

  1. Sign in to your QuickBooks Online company.
  2. Select Help (question mark icon) at the top right.
  3. Click Contact us to connect with a live support agent.

That should do it! Please know that I'm just a post away of you have any other concerns about QuickBooks and bank balance. Wishing you and your business continued success.