Level 1

Hello....My quickbooks balance is showing more money than my Chequing account ?

 
QuickBooks Team

Other questions

Let's find out why the QuickBooks balance is more than your Checking account, lucky5.

 

Once your bank account is connected, the system automatically creates an opening balance. The amount is base on the real-life bank account. Thus, it causes an incorrect balance in QuickBooks.

 

No worries. You can either edit or delete this entry. Simply go to your Chart of Accounts and make changes from there. Here's how:

 

  1. Go to the Gear ⚙️ icon at the right top.
  2. Select Chart of Accounts under Your Company.
  3. Locate the account, then click View register under Action.
  4. Find the opening balance.
  5. You can either delete or edit it.
  6. When you edit it, make sure to enter a zero amount to fix the opening balance.
  7. Click Save and close.

I've added this article for additional information: Fix opening balance issues in QuickBooks Online. This link will also help ensure QuickBooks will match your bank records.

 

If there's no opening balance, you can enter it by creating a journal entry. You can refer to this article for instructions and detailed steps: What to do if you didn't enter an opening balance

 

On the other hand, you may have transactions that aren't supposed to be reconciled. Let's run the previous reconciliation report to review it one-by-one.

 

Lt me show you how: 

 

  1. Go to Accounting, then select the Reconcile tab. 
  2. Click the History by account link.
  3. Choose the Account and Report period.
  4. Open the year with the statement ending date.
  5. Click View report

To correct the reconciled period, you can undo the reconciliation process. For more insights, you can use this article: Undo and remove transactions from reconciliations in QuickBooks Online.

 

Let me know if there's anything else you need with your bank account, and I'm glad to help you.