Hello, Julie. The bank balance shows the real-time status of your account as reported by your financial institution. On the other hand, QuickBooks balance is based on the transactions you've manually added within QuickBooks.
There are several common reasons why the bank balance and the QuickBooks balance may not match:
- Outstanding/pending transactions
- New transactions for a connected bank account
- Duplicate transactions
- Edited/Deleted transactions
- Credit card (liability) account
Consider categorizing and matching your downloaded transactions according to your bank statement. You can follow the steps outlined in this article: Categorise online bank transactions in QuickBooks Online.
If you have reconciled your accounts and found discrepancies, check this article: Fix issues with your beginning balance for accounts you've reconciled before.
Let us know if you have further questions. We're here to help you anytime.
