My book balance is over the bank balance quite a bit. It's going up some every month. I am reconciling the bank balance every month. Any ideas?

Thank you for bringing this to our attention, LaGrange. Let's work together to resolve the discrepancy between your QuickBooks and bank balance to keep your financial records accurate.

To begin, please note that the bank balance in QuickBooks Online (QBO) reflects the actual account balance as of the last bank update. On the other hand, the QuickBooks balance represents the total of all transactions entered or matched in the system. Sometimes, discrepancies can occur between these two balances for several reasons. Including these scenarios below:

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

If you notice increasing differences each month during the reconciliation process, I suggest examining transactions that appear in QuickBooks but not on your bank statement. If you found any, verify the transaction date against your bank statements from that period and record the date and amount of the transaction. You can generate a past reconciliation report to aid in this process.

Here's how:

1. Go to Reports.
2. Type and select Reconciliation Reportsin the search bar.  
3. Choose the Account for the reconciliation report you want to view.
4. Pick the Report period drop-down arrow.  
5. Hit the View Report option.

You can also refer to this article to learn actions to take if transactions are from the past reconciliation: Fix issues at the end of a reconciliation in QuickBooks Online.

Sometimes, your bank or credit card company might process a transaction for an amount different from what you intended. This article will guide you on how to handle such situations: Fix mistakes on your bank or credit card statement.

It's essential to maintain accurate financial records, so take the time to investigate thoroughly. We'll keep this thread open so you can leave a reply below for any additional questions about reconciliation or other QuickBooks-related concerns. Feel free to let us know, and we'll be sure to get you covered.