When you have your bank account connected through the bank feed, you'll see a Bank Balance and an In QuickBooks. When you've got all the necessary transactions entered in QuickBooks Online that are coming in from your bank, the two numbers should balance. When they don't, there are a few things to consider, from both sides.
The first thing to do is make sure that your transaction entries match between QuickBooks and the bank. If you haven't reconciled your account in a while, this is a good place to start. Reconciling an account is quite literally comparing what's entered in your books to what's hit your bank account and is a useful way to make sure you have the correct information in both places. Learn more here: Reconcile an account in QuickBooks Online
If you're not ready to reconcile yet, you can simply compare the transactions in QuickBooks to what's in your bank account by pulling up the account register in QuickBooks to compare it against your banking website's information. You can get to the account register by going to Accounting > Chart of Accounts > Account history for the account in question.
In the event you're missing transactions in QuickBooks, add them. If you've got duplicates, delete them. Here are a couple articles that may help.
An accountant or bookkeeper can help you with figuring out what transactions should be there and which shouldn't. QuickBooks Online's My Accountant tab can help you connect with an accountant. You can add one you're already working with as an accountant user or use the Find a pro to help feature to find someone near you.
Best of luck and have a great week. :)
Thanks for the answer but for more info, actually am not connecting my bank account to QuickBooks, I just used to upload info from my bank by browsing the file.
But after, I stopped uploading and begin to enter all transactions manually, so the problem is that since I stopped that upload I find that difference between Bank Balance and QuickBooks balance although my QuickBooks balance is similar to my bank account, all the problem is that since I stopped uploading bank files the bank balance in QuickBooks stopped updating and it gives me that the last update was 105 days ago means the last time I uploaded bank files.
I am sure that the problem is that I stopped uploading files from bank but we should find a solution because I want to continue entering manually my transactions, in plus I tried to add the green square (Manually added from bank feeds) to the manually added transaction to could solve the problem but I couldn't , so please I need an answer for this detailed issue.
Hello again. I appreciate the clarification of how you've been entering our bank transactions into QuickBooks. Typically the Bank Balance only displays and updates when there has been a bank feed connection like I was talking about, so you may have had a connection at one point. Otherwise, the system was behaving a bit oddly for you to be able to see it with only a manual upload of the file. All the same, a bank feed connection is needed to move forward with having the Bank Balance portion update.
I recommend leaving feedback for our product developers about this since it's a feature you're looking for in the program. Take a look at this article to learn how it's done: How do I submit feedback?
I'm here if you have further questions.
I have the same problem - the bank no longer connects automatically to QuickBooks - apparently you are working with the bank to sort this. There are a number of banks which do not use Open Banking updates. I therefore used to have a feed up to the end of February and now have to use a csv file to upload. Therefore the bank balance is out of date to the QuickBooks bank balance.
So how do I update the bank balance to match the QuickBooks balance?
sorry but this is not a very helpful explanation.
My Quick books and bank balance have been reconciled however the balances do not match. The Bank balance is higher than the quick books balance. I have no idea how to look for the difference.
can you assist please
Thanks for joining this thread! QuickBooks Online's reconcile function makes it simple to do your monthly bank reconciliations. It's great that your account has already been reconciled, as that'll make it easier to determine what's happening with the balances. I'd be happy to help you figure this out.
Since your bank account has been reconciled in QuickBooks Online, I recommend checking out the Account History next. You can get there by navigating to Accounting > Chart of Accounts > then finding the bank account and clicking Account History. Once there, you'll notice a column between the Deposit and Tax columns with a square icon in the header. The fields in this column will be either blank, C or R. What you want to look for are transactions that are blank in this column.
I'm suggesting this because when a transaction is added or matched within the Banking tab, the transaction will receive a C for "cleared", and once it's reconciled it'll get a R for "reconciled". Try scrolling through the account history and keeping an eye out for any transactions that don't have either letter in that column. Although these transactions haven't been cleared or reconciled, they still impact that balance that shows as your QuickBooks Balance. There could be a manual entry created in error or a duplicate expense that is reducing the QuickBooks Balance, which would explain why the Bank Balance is higher than it. If you find extra transactions with a blank status that need to be deleted, you can do so by following the instructions in this article: Void or delete transactions in QuickBooks Online
If you happen to find items that were reconciled in error, they need to be unreconciled before they're deleted. I recommend checking out the articles below for more information on how to deal with them:
Please give that a try and let me know how it goes. I'm here if you have any other questions about this!