Difference Between Bank Balance and In Quickbooks Balance

Understanding the difference between the 'Bank Balance' and 'In Quickbooks' balances in your Quickbooks Online files.
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Hey! My name is Amanda Runia, I am an ex-accountant, business strategist and QBO specialist. I own a small business consulting company called In-House Ally where I help business owners make better decisions by coming alongside them as an *ally*. Business is hard, and everyone deserves to have somebody in their corner. I'll pull up a chair and we'll do this together.

[@esraelrayah528]

this video helps me a lot, it's a great video thank you so much

[@harlangleeson9496]

you rock.

[@bassXsantana]

So what is the difference between the bank balance and in quickbooks

[@rosanneturkington8929]

That was great video! What if there is a much larger number in qbo n smaller in bank ?

[@a.stewart5046]

That’s my question too….

[@in-houseally]

Hello Rosanne! Whichever way the numbers are off, you're best off doing a bank reconciliation as of today, and then seeing what transactions are still showing as 'uncleared' or 'unreconciled' and that will show you what is making up the difference between the two numbers. Likely, if the QBO number is larger, you are somehow double-recording your income transactions (which can often happen with various sales app integrations)

[@snipsnap7558]

I found out my bank balance is zero and my quick book balance is same with my bank statement amount. Why does it happen?