Thank you for your prompt response on this thread, @D Law. Let me share more information about your bank balance in QuickBooks Online.

 

The QuickBooks balance reflects the total amount of transactions entered or added in the register, while the bank balance is the data provided by your bank. However, since your bank account is already closed, it is not possible to directly match the two balances.

 

Please note that the figures populated in the program are based on real-time connection as QBO only receives transactions. Since the last bank feed update occurred 4 months before the account was closed, that's the reason why the Bank balance is still showing $7,524.69 even though the account as already closed.

 

In real life, when you close a bank account, the balance should be zero. Going back to your screenshot, I can see that the register or In QuickBooks balance is already zero. In this case, you'll have to refer to your actual bank statement when reconciling your accounts.

 

In QBO, to get the Bank balance to $0.00, you can consider disconnecting that account since it has already been closed. Through this process, the amount will be defaulted to zero, indicating that the $7,524.69 shortfall is not a real balance, but an bank feed error.

 

Moreover, let me share these articles to assist you in resolving common reconciliation problems:

 

Please don't hesitate to reply on the thread if you still have questions about your bank transactions. Take care.