Quickbooks balance is higher than my bank account balance

Ksauced6 · ‎September 12, 2020

So I just started a bookkeeping job at this small business, keep in mind I just finished school and I’m pretty inexperienced and am learning more everyday and the way the bosses have me do it is enter invoice and then Enter receive payment. I noticed this makes the balance on quickbooks, but we have a POS software that also takes payments. However when reconciling, I’m adding the deposits from the bank onto quickbooks and now I have a 10,000 balance on quickbooks Compared to the 8,000 bank balance. Am I doing things wrong? Should I undo all the bank deposits that I added to quickbooks or do I void all the receive payments I’ve done to make things balance out?

GraceC · ‎September 12, 2020

Thanks for using QuickBooks, @Ksauced6.

It will be my pleasure to help you and provide some pointers on how you can resolve the difference in these balances.

There are several factors that may cause on why the bank register balance in QuickBooks Online doesn’t match your actual bank balance.

Here’s a list of possible reasons why these balances don’t match:

Outstanding transactions.
Card (liability) account.
Edited or deleted transactions.
Duplicate transactions.
New transactions for a connected account

You'll need to verify why they don't match and make some adjustments or fix them accordingly. To do this, you can visit this article for recommended fix or action to resolve this issue: How to fix differences between QuickBooks balance and bank balance.

If you’re still having problems with mismatched problems, you may also read these articles for further help:

Please post anytime if you need more help from me. Wishing you all the best!