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Hello, On my dashboard, the amounts in the bank balance and the blanace in quickbooks is different. I've been reconciling my account on a monthly basis and I am all up to date. Is there a report or a way to see the items that is making up my difference? Thank you in advance!
Solved! Go to Solution.
Hello there, Accounting646. Thank you for posting in the Community!
The Bank balance and In QuickBooks balance will not be the same.
In QuickBooks Balance depends on the transactions entered in QuickBooks. While the Bank balance depends on the actual balance of the bank account.
We can review the added transactions in QuickBooks and make sure they match your bank statement. With that, you can compare the transactions entered in the program and the ones from your bank statement.
Also, you can follow 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. This helps you review if there are changes made that affect your balance.
If you have other QuickBooks concerns, please let me know by adding a comment below. I'm always here to help. Have a good one and take care always.
Hello there, Accounting646. Thank you for posting in the Community!
The Bank balance and In QuickBooks balance will not be the same.
In QuickBooks Balance depends on the transactions entered in QuickBooks. While the Bank balance depends on the actual balance of the bank account.
We can review the added transactions in QuickBooks and make sure they match your bank statement. With that, you can compare the transactions entered in the program and the ones from your bank statement.
Also, you can follow 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. This helps you review if there are changes made that affect your balance.
If you have other QuickBooks concerns, please let me know by adding a comment below. I'm always here to help. Have a good one and take care always.
Hi Accounting646,
Hope you’re doing great. I wanted to see how everything is going about the bank balance and QuickBooks balance. Was it resolved? Do you need any additional help or clarification? If you do, just let me know. I’d be happy to help you at anytime.
Looking forward to your reply. Have a pleasant day ahead!
Hi
I have a similar thing - QB balance is not the same as my bank balance, and as this is my first reconcile, I understood it needs to show a difference of zero. I know what has potentially happened (when a third part app was linked and unlinked and invoices were duplicated and deleted etc etc etc...). The discrepancy totals -£208.03 and this is something I can't find to get it to zero. I have matched all the bank statement transactions to the QB transactions but still it is -£208.03. Do I reconcile anyway? There are a lot of transactions that don't exist on the statement so I have not put a tick by these - I assume it doesn't reconcile these ones at all, but what then? Delete them?
Thanks
Hi there, @David. I've got you covered, and I'll ensure you can get through this so you can successfully reconcile an account in your QuickBooks Online (QBO) account.
Before we proceed, I'd like to congratulate you on your business. Know there's no need for you to worry about getting this wrong. After all, it's a part of the process of learning how to use QuickBooks Online. Now that I'm here, I'll help you fix this so you can proceed to reconcile an account.
Since this is your first reconciling an account in QBO, you'll want to review your opening balance in QuickBooks and ensure it's accurate. To begin, these are the steps:
If you haven't enter an opening balance, see this article for more information: What to do if you didn't enter an opening balance in QuickBooks Online.
You'll then compare the opening balance with your real-life bank balance. Visit this article for further guidelines on how to fix issues when reconciling an account in QBO: Fix issues the first time you reconcile an account in QuickBooks Online.
Once you're ready to reconcile again, make sure that you have the correct Ending balance and Ending date to successfully reconcile the account.
Additionally, I've got you this article in case you encounter issues at the end of your reconciliation in QBO: Fix issues at the end of a reconciliation in QuickBooks Online.
@David, If you need further assistance fixing a reconciliation in QuickBooks. Know that you can always get back to me. It'll be my pleasure to help you get this sorted out as soon as possible. Thanks for choosing QuickBooks. Take care, and have a good one!
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