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CdSecretary
Level 2

Why is a bank that we no longer use and has a zero balance showing up with a balance on my detailed summary report?

Why is a bank that we no longer use and has a zero balance showing up with a balance on my detailed summary report?  I checked banking-register and it is correct. I checked banking-reconciliation and am able to reconcile without any problems.  The old bank did not show up on last month’s report.  Thank you in advance!  

 

Solved
Best answer August 02, 2021

Best Answers
BigRedConsulting
Community Champion

Why is a bank that we no longer use and has a zero balance showing up with a balance on my detailed summary report?

Hi @CdSecretary 

 

The balance sheet detail report will show the opening balance, activity, and ending balance for each account for the date range shown at the top of the report.

 

It should show the same ending balances for each account as the standard balance sheet (summary) report.

 

If you are seeing different balances, make sure the ending date on the balance sheet detail report matches the balance sheet summary report, and make sure they're both running on the same basis, either Cash or Accrual. (The basis appears at the top left corner of each report.)

 

Also, be sure you're comparing the account balance to the same date in the account register, not the ending balance there, if there are transactions after the balance sheet reports' dates.

 

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7 Comments
BettyJaneB
QuickBooks Team

Why is a bank that we no longer use and has a zero balance showing up with a balance on my detailed summary report?

Glad to have you back here in the Community, @CdSecretary.

 

I'm here to help you identify the reason behind the old bank account balance that's showing on your report.

 

When pulling up reports in QuickBooks Desktop, make sure that the report period is correct. It's possible that date of the report that you've pulled up contains transactions for the old bank.

 

You can also open the balance of the bank to see the transaction detail of the amount. If those are unnecessary, you can delete them by clicking Ctrl+D and hit Enter.

 

Once verified and the problem continues, I'd recommend verifying and rebuilding your data. This can help fix data-related issues in the program like the once that you've experience.

 

To do that:

  1. Choose File.
  2. Click on Utilities then Rebuild Data.
  3. You will receive a warning message to backup your company file, press OK.
  4. The Rebuild Data utility starts as soon as the backup is finished.
  5. Click OK when you get the message "Rebuild has completed".

After that, let's verify the data:

  1. Choose File.
  2. Click on Utilities.
  3. Select Verify Data.

For complete details about this process, please see this reference: Verify and Rebuild Data in QuickBooks Desktop.

 

I'm also adding here some links that can help you in managing and fixing reconciliation issues:

I'll be right here to assist you if you need anything else with QuickBooks. Just leave a reply below, and I'll get back to you. Take care!

BigRedConsulting
Community Champion

Why is a bank that we no longer use and has a zero balance showing up with a balance on my detailed summary report?

Depends if the report is designed to show account balances or detailed activity.

 

What is a "detailed summary report"? I've never heard a of a QuickBooks report with that name or description.  How do you run the report?

CdSecretary
Level 2

Why is a bank that we no longer use and has a zero balance showing up with a balance on my detailed summary report?

Excuse me, balance sheet details report.  

CdSecretary
Level 2

Why is a bank that we no longer use and has a zero balance showing up with a balance on my detailed summary report?

Thank you for responding.  I tried rebuilding data per your first suggestion and it didn’t work.  I’ll follow through with the other suggestions that you gave me and keep you posted on the results.  Thanks!  

Test2Go
Level 5

Why is a bank that we no longer use and has a zero balance showing up with a balance on my detailed summary report?

@CdSecretary 

Try setting the date filter to All dates...

BigRedConsulting
Community Champion

Why is a bank that we no longer use and has a zero balance showing up with a balance on my detailed summary report?

Hi @CdSecretary 

 

The balance sheet detail report will show the opening balance, activity, and ending balance for each account for the date range shown at the top of the report.

 

It should show the same ending balances for each account as the standard balance sheet (summary) report.

 

If you are seeing different balances, make sure the ending date on the balance sheet detail report matches the balance sheet summary report, and make sure they're both running on the same basis, either Cash or Accrual. (The basis appears at the top left corner of each report.)

 

Also, be sure you're comparing the account balance to the same date in the account register, not the ending balance there, if there are transactions after the balance sheet reports' dates.

 

View solution in original post

CdSecretary
Level 2

Why is a bank that we no longer use and has a zero balance showing up with a balance on my detailed summary report?

I was on the phone with QB Pro Desktop this afternoon on another subject and asked about this problem.  The specialist was able to direct me on what needed to be done to zero out the account that is no longer used.  Thank you for your comments responding to my problem.  

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