The QBO balance reflects all transactions you've recorded in QBO, including those you manually add to the register. On the other hand, the bank total represents the information provided directly by your financial institution through the bank feed.

Differences between the two can occur due to timing issues, such as transactions recorded in QBO that have not yet cleared your bank. They could also result from transactions that are missing, duplicated, or edited after reconciliation, as well as manually added transactions in QBO or entries that have not been recorded.

If you have unreviewed entries, categorize and match them accordingly to ensure your recorded financial records in QBO align with your bank statements.

Feel free to add a reply if you have further questions.

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067320Author

I've been told that credit unions have what they call a "share" for setting up an account. Generally, it amounts to $5.00 for individuals and could be as high as $25.00 for business accounts. It might be a throwback to the early days of credit unions...I don't know. But the credit union does not own the $25.00 and you can spend it without any problems.

Nicole_N

QuickBooks Team

I appreciate your follow-up and the additional details you provided, 067320.

While the "share" amount may indeed be a factor, you'll want to confirm how your credit union handles this $25.00. Specifically, if it's a part of your available balance or treated as a separate reserved amount.

QuickBooks Online (QBO) records and reconciles transactions based on the data provided by your bank, so differences like this can arise from how these institutions manage your accounts or balances.

To ensure accuracy, I recommend reviewing your transaction list in QBO's Bank Register to verify that all transfers, deposits, fees, and adjustments align with your bank records.

If the $25 share was not part of a transaction, it might not appear in your QBO feed, which can cause a permanent difference between your bank's reported balance and QuickBooks' balance.

To address this, you can create a journal entry in QBO to reflect the $25 share as an asset or equity, depending on how your credit union treats it. If you're unsure how the credit union classifies the share, it's best to consult an accountant.

Please let us know if you have any further questions or concerns by leaving a reply below. We would be happy to provide the information you need.

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