Linked bank accounts have been reconciled but balances still don't match.

cdavenport · ‎June 11, 2020

The balances for both my linked bank accounts are off, i.e. they do no match the quickbooks balances, so I went through and reconciled them using bank statements up to the most recent statement for each. I was able to do this successfully and everything checked out with $0.00 in discrepancies. I also checked the few newer transactions that have not been covered in a statement yet and these also match, yet somehow the balances that show when I go to 'Banking' are still off. I don't understand how everything can be right in one place and not in the other. I don't really know where to look for issues at this point so any tips on where to go next would be greatly appreciated.

I am working with quickbooks online. Thank you so much!

JenoP · ‎June 11, 2020

Hi there, cdavenport.

Can you tell us the name of the bank that's connected in QuickBooks? I just want to check if we have an open alert about this in the program.

Differences between bank balances are also usually caused by any of the following scenarios:

Outstanding transactions
New transactions for a connected account
Duplicate transactions
Edited or deleted transactions
Credit card (liability) account

Make sure that all downloaded transactions are already categorized. Otherwise, any unreviewed transactions will affect the bank balance. You can also go through the steps in this article on how to resolve balances issue in QBO: Fix beginning balance issues if you've reconciled the account in the past QuickBooks Online.

I'll be around if you have other questions.

cdavenport · ‎June 12, 2020

Thanks so much for your response. The accounts are from TD Canada Trust. I am caught up with reviewing all of the transactions; is it possible that categorizing them a certain way/incorrectly would lead to discrepancies? I have never manually added a transaction outside of what comes in from the checking and credit card accounts.

I have checked the beginning balances at each stage of reconciling and all seem to be aligning.

JonpriL · ‎June 12, 2020

Hello @cdavenport,

Currently, we have an on-going issue where users, like you, are unable to update your transactions for TD Canada Trust account. This can be the reason why your bank account and in QuickBooks balance doesn't match. Rest assured that this has been escalated to our engineering team and they're in all hands working to fix this as soon as possible.

In the meantime, you can consider manually downloading and uploading your transactions so you can keep them tracked. To do so, you have to download first your transactions directly from your bank's website. Once done, here how you can upload your transactions:

Go to Banking.
Under Bank and Credit Cards, select your TD Canada Trust account.
On the Update menu, select File upload.
Find and open your downloaded bank transactions.
Select Upload.
Click Finish.

In addition, here's an article you can read to learn more about how you can manually upload your transactions: Manually Upload Transactions into QuickBooks Online.

However, I'd still recommend contacting our Customer Care Support so you'll be added to the list of affected users.

Go to Help.
Select Contact Us.
Enter TD Canada Trust Account in the What can we help you with? field.
Click Let's talk.
Select Get a callback, Start messaging, or Call us.

Lastly, I've also included this helpful article that'll help you handle your bank transactions after uploading them: Categorise and match online bank transactions in QuickBooks Online .

We appreciate your patience as we're working on this. Please let me know in the comment section down below. I'll be always around ready to help.