Question

Anyone know why my bank balances show zero when they aren't? quickbook accounts show transactions and balances. But the bank accounts show $0

Forum|Forum|6 years ago
April 24, 2020
4 replies
76 views

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QuickBooks Online

Level 9

Bank balance and In QuickBooks balance is different. First, Bank balance is affected by your downloaded transactions under the For Review tab in the Banking page. You'll want to update your bank accounts to check and update its balance.

Go to Banking.
Select Update.

Meanwhile, In QuickBooks balance is affected by your transactions already categorized and manually enter in your QuickBooks. These transactions can be found in your account register. You can read through this article to learn more: Find, review, and edit transactions in account registers.

Lastly, here's a few articles you can read for ideas about how you can manage your bank account and transaction: Banking and Bank Feeds for QuickBooks Online.

Keep me posted in the comments down below if you have any other questions. Always around ready to help.

F

familyofgod-finaAuthor

I am aware of the differences between the qb balance and the bank balance and all the transactions that need to be categorized in qb. However the problem is the bank balance in qb is saying it is $0 when in fact the bank balance is not zero. The bank balance should never show zero if in fact we have money in the bank!

IamjuViel

Level 8

Let me help you sort this out, @familyofgod-fina.

Just to clarify, what is the name of the bank that has an incorrect balance? This is for me to further check on the root cause of this concern.

In the meantime, let's manually update your connected bank account. This way we can update its connection status with QuickBooks.

Log in to your bank’s website outside QuickBooks.
Review your posted transactions and check for any connectivity error notifications.
Once completed, log in your QuickBooks Online account.
Let’s perform a manual update on your connected bank account.
Go to Banking.
Choose Update.
Select Update Now.
If prompted, enter your Multi-Factor Authentication (MFA) credentials.
Click Continue Update.

If you're still unable to see a correct bank balance, I'd recommend contacting our Customer Care Team. This way we can further verify whether you're included in the on-going investigation about incorrect banking balance (INV 45342).

Let me know how the call goes. I'm always here to help if you have other questions about managing your connected bank accounts.

M

MrRidley

Same issue - has this been resolved? Even the QB balance number isn't accurate.

AlexV

Level 10

Hi there, MrRidley.

Let me help you with the bank balance issue.

I'd like to know if you linked your bank to QuickBooks Online or you only manually imported the transactions. For manual upload, please note that QuickBooks doesn't have access to your bank which is why the bank balance will show as zero. This is the default even if you'll bring in the transactions.

Your actual bank balance will appear if you connected it. You can also update it to get the latest data. From the Banking page, simply click Update.

In addition, all transactions you recorded will affect the QuickBooks balance. It's possible that there are duplicate transactions so you'll want to review them to avoid discrepancies. Another possible reason is an incorrect opening balance. Please check these articles on how to fix it:

Post again here if you have more questions. I'll be here!

M

MrRidley

Hi Alex,

I manually upload the transactions via a csv file. I am absolutely positive that the balances were showing before, but obviously you changed the default behavior for the worse. I've been using QBO for years and I'm positive in what I said.

Please address the issue as it's very inconvenient not to see your balance after you've reconciled everything... it's a BASIC feature.

D

Dannyber92

I am having this same issue and quickbooks support has not been very helpful. They just seem to keep doing circles around the problem and not really understanding what the issue is. In my case, I have two US Bank accounts. The bank balance for one of them updates just fine, but the other one doesn't so its not that US Bank doesn't share these details with QBO. This is very inconvenient, especially since you always want to know if your bank balance and QBO are on the same page.

For the one that doesn't work, the bank balance has always been zero since day one. I've been debating whether to disconnect the account and reconnect it from scratch, but I am not sure what the implications are of doing that since I'm fairly new to QBO. I'm not sure if disconnecting the account would get rid of all of the transactions that have already been imported, or if in reconnect it will duplicate them so I've been very hesitant.

I've cleared cache in my browser and used other browsers as a initial troubleshooting steps as suggested in this thread, but that did not help. Also, the bank balance in my register for this account is still $0.

I find it a bit ridiculous that there doesn't seem to be a straightforward solution for this issue when it was reported back in 2020 (over 3+ later). Any help with this would be greatly appreciated!

K

Kurt_M

QuickBooks Team

Hi there, @Dannyber92.

I understand your query and the urgency of this matter. Also, I appreciate you for reaching out here in the Community space. Know that this isn't the kind of experience we'd want you to have when using our products to manage the recording side of your business. As I carefully read the details in your post, what I can recommend is to do a manual update of the bank that doesn't work inside your QuickBooks Online (QBO). I'll input the steps below to get you going:

Access your QuickBooks Online company.
On the left navigational bar, go to Bookkeeping tab
Select Transactions, then click Bank transactions.
Click the Update button.

Doing this will update all the connected bank and credit card accounts, and then the number of transactions in each account tile will increase if QuickBooks downloads new transactions. Now, if it still doesn't go through or looks like it's stuck, I'd recommend checking out your bank's website. Here's how:

Go to Bookkeeping, select Transactions, then select Bank transactions (Take me there).
Select Link account. Note: You won’t add an account, you just need the listed URL.
Search for your bank and select it.
Copy the URL listed for your bank.
Sign in to your bank or credit card's website using the copied URL.

If you can sign in, it's a good sign that there isn't a major issue. Next, check the following:

Check your account for messages, notifications, or alerts.
Look for any display issues as you navigate the website. These can block QuickBooks from downloading new transactions.
Check your bank’s website for any announcements about new security requirements.

If everything looks good, go back to QuickBooks:

Access your QuickBooks Online company.
Go to Bookkeeping, select Transactions.
Click Bank transactions.
Select Update.

If the issue persists, I recommend contacting our Customer Care Team. This way, they can assign a representative to check your account in a secure environment to determine the root cause of the problem. Refer to this article for more details: QuickBooks Online Support.

Furthermore, refer to this article for more details on how to manage bank transactions inside QBO: Categorize and match online bank transactions in QuickBooks Online.

@Dannyber92, the Community Team is always ready to help you if you need further assistance managing bank accounts inside QuickBooks. Don't hesitate to leave a comment below, and we'll get back to you as soon as possible. Take care, and have a nice day!

Y

Yesterday is Gone

I have the same problem on my QB Desktop Pro version (2024). Started about a month ago. Never a problem before (using QB for many years). To be clear, when you are in "Bank Feeds", each specific account in the Bank you have chosen, will show two balances. The top $$ balance number (Account ending in XXXX) represents the posted balance from your bank for this account. The bottom $$ balance number shows the ending balance in your QB register for this same bank account (note: this is simply the balance in your register based on what you have entered. Not necessarily cleared yet and not necessarily equal to the top $$ balance, and that's ok). This simply boils down to one thing. The top number should always equal the "Posted Balance" in your bank account once you have downloaded/sync'd your bank. That is the bottom line. In fact, immediately after downloading your account, the top number will equal your bank account balance if you login to your bank account outside of QB. So, Intuit...what is it in your coding that talks to the bank and pulls in the posted balance to be shown in top $$ balance in the Bank Feeds window? Something isn't working. Can't anyone figure this out???

I

Ivan_G

Moderator

We appreciate you for bringing this matter to our attention, Yesterday. Let me help you resolve your issue about your bank balance in QuickBooks Desktop (QBDT).

There are some possible factors why your bank balance is off. These include voided, deleted, or changed amounts to previously cleared or reconciled transactions.

Thus, we can pull up the Reconciliation Discrepancy report and the Previous Reconciliation report. Doing so could help us identify some changes or discrepancies with your data.

First, let's run the Reconciliation Discrepancy report. This report contains a list of transactions that have been modified since the last reconciliation.

Open your QuickBooks.
Go to the Reports menu and select Reports Center.
Enter Reconciliation Discrepancy on the Search bar.
Double-click the report and select the bank account on the Specify Account dropdown. Then, hit OK.
Modify the report period if necessary and check for some changed entries.

Next, let's utilize the Previous Reconciliation report. You can compare the data from this report to your past statements from your financial institution.

Go back to the Reports menu and select Reports Center.
Enter Previous Reconciliation on the Search bar.
Double-click the report and select the bank account on the Account dropdown.
In the Statement Ending Date section, choose the reconciliation period you need to review.
Tick Both from the Type of report section.
In this report, include selection, choose the Transactions cleared plus any changes made to those transactions since reconciliation.
Once done, hit Display.
Modify the reporting period to display specific data if needed.
Review the report to check for discrepancies or issues.

If you can spot any discrepancies, you might need to (refer to your bank statement):

Enter missing transactions.
Edit existing transactions.
Undo a previous reconciliation and redo it.
Ignore the discrepancy and let QuickBooks enter an offsetting adjustment.
Contact your financial institution about a banking error.

However, if there are no changes or issues with your reconciled transactions, I recommend verifying and rebuilding your data in QBDT. This tool can help identify and fix some company file damage.

Also, you may review this article to help you navigate with QuickBooks seamlessly: View all help - QuickBooks Desktop.

Feel free to keep us posted if you have more QuickBooks-related queries. We're always available to assist you.

Y

Yesterday is Gone

The registers for all accounts, including this bank and others are fine. Downloads work fine and reconciliation.

I've verified data, rebuilt data, removed QB and reinstalled, deactivated all accounts with this bank and reactivated. The problem remains. The other two accounts with this bank bring in the proper bank balance. It's the CD that continually comes back with Zero after every download and reconciliation (which is perfectly fine in the actual QB registers). See Pictures.

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