cancel
Showing results for 
Search instead for 
Did you mean: 
jakmaartens
Level 2

Good day Please can you assist Quick Books is pulling through the Capitec Available Balance and not the Capitec ACTUAL balance

 
4 Comments 4
MichelleBh
Moderator

Good day Please can you assist Quick Books is pulling through the Capitec Available Balance and not the Capitec ACTUAL balance

Hi there, @jakmaartens.

 

Let me give you some information about the Capitec bank balance in QuickBooks Online. 

 

QuickBooks will rely on what are the information and transactions sync from your bank. In this case, I'd suggest calling your bank directly and ask them how they download the transaction into QuickBooks. 

 

I've also added here a great article that contains a lot of information in managing your banking and other future tasks: ZA QuickBooks Help Articles.

 

Let me know if you have follow-up questions. I'm glad to help. Have a great day!

Hallpam40
Level 1

Good day Please can you assist Quick Books is pulling through the Capitec Available Balance and not the Capitec ACTUAL balance

Good day

I have the same issue with Standard bank on a linked account which has an overdraft. The statements reconcile perfectly, but the banking screen shows "bank balance" as the available balance and not the current balance as per the bank .e.g account has an overdraft of 10,000. The current bank balance is -5,500 (negative -meaning I am 5,500 overdrawn). On the banking screen this shows as "positive bank Balance" of 4,500.

On the Standard bank online statement it shows the following: Available 4,500   Latest -5,500 Overdraft 10000.

Is this a Quickbooks problem or a bank problem?

Regards

 

Pam

 

Kristine Mae
Moderator

Good day Please can you assist Quick Books is pulling through the Capitec Available Balance and not the Capitec ACTUAL balance

I'm here to help you sort this out, Pam.

 

An overdraft is an extension credit from your bank account that's granted to you when an account reaches zero. As you make deposits, the bank account will take back the funds.

 

We're dependent on what your bank shares with us. It could be they haven't posted it yet. If it won't be downloaded, you can resolve this by creating a journal entry. It'll help you balance the QuickBooks amount and bank amount. 

 

If you have more questions, don't hesitate to get back to this thread. We'll reply as soon as we can. Take care!

Hallpam40
Level 1

Good day Please can you assist Quick Books is pulling through the Capitec Available Balance and not the Capitec ACTUAL balance

Thanks, Kristine

 

I am aware of how an overdraft works.

 

My issue here is the connection between QBO and Standard bank.

 

I am using live feeds and have reconciled all transactions (only converted to online last week - was using desktop before). There is a zero difference between the Quick books account register balance and the bank statement balance, so reconciling is not the issue and a journal entry won't fix it. 

 

My issue is that QBO reports the "Available balance" (difference between latest balance and Overdraft) and not the "Latest Balance" from the bank feed.

I understand this might be a Standard Bank problem, but it is disconcerting. 

 

regards

 

Pam