Bank balance

chrissybecares · ‎January 06, 2021

Sorry this may be a very dumb question

I have downloaded bank transactions into QB. All are posted to end of December and the Jan ones remain for review. As far as I am aware there are no unpresented cheques.

In theory my " balance in QB" bank account figure on the dash board ( or in banking tab ) should = Bank Balance Online less Jan. It doesn't

However if i run a balance sheet report to 31.12 the bank balance figure matches bank balance online less Jan transactions.

Why is there a difference between my balance sheet bank account total and the one on the banking dashboard for "in quick books". Should they not be the same

Apologies am not an accountant and picking up where someone left off.

thanks !

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MadelynC · ‎January 06, 2021

I’m here to ensure everything is accurate on your end, @chrissybecares.

You don’t have to apologize. In fact, it'll be my pleasure to help and provide some insights on why there's a difference between QuickBooks balance and the bank account’s total.

There are several factors that may cause balances to mismatch. First, you’ll want to check if the bank is a foreign currency or not. You need to verify the date and the amount entered in the opening balance.

If it’s foreign, the Banking & Chart of Accounts page will remain. While the Balance sheet amount will show converted.

If you’re still having issues with balances, you can read these articles for further help. It contains instructions on how to make adjustments and recommended fixes:

Don't hold back to drop a comment below if you have other banking concerns. I'd be delighted to help you. Take care!