To accurately resolve the discrepancies between the balance displayed on your QuickBooks dashboard and the actual amount on your bank statement, @nelos, a detailed examination of the relevant transactions or regular reconciliation by comparing your QuickBooks entries with your bank statement is necessary. I'll provide more insights to help with this process.
Start by closely comparing each transaction in QuickBooks with your bank statement, looking out for any missing entries, duplicates, or errors. Transactions in QuickBooks often appear in real-time and may not yet show on your bank statement due to differences in the bank's update process.
Even though all transactions are fed automatically, they could include transactions like uncleared checks or in-process deposits not yet recognized by the bank. These would alter the displayed balance in QuickBooks compared to the bank statement.
Ensure that any transaction adjustments post-reconciliation are verified, as these could introduce discrepancies. Regularly review the reconciliation discrepancy report to catch any discrepancies from alterations post the last reconciliation.
During the reconciliation process, align each QuickBooks entry with the corresponding entries on your bank statement and make the necessary adjustments. This method will help rectify disparities, ensuring that your QuickBooks dashboard reflects an accurate bank account balance.
For more details on reviewing your accounts in QuickBooks to make sure they match your bank and credit card statements, please refer to this article: Reconcile an account in QuickBooks Online.
To lock and prevent unwanted changes on your books, here's an article you can check for guidance: Close your books in QuickBooks Online.
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