Hi. Running two 'projects'. allocating expense and income against project but now the bank and quickbooks dont balance on dashboard. Anyone know what I am doing wrong?

You have to match your transactions correctly to avoid double deductions in QuickBooks, chairman2.

Please know that your bank balance will only depend on the update on your financial bank institution, while your QuickBooks balance will change when you add transactions to your QuickBooks Online (QBO) account.

If your bank balance in QBO doesn't match your actual bank balance, several factors could cause this discrepancy. Here are some reasons for this:

• Outstanding transactions
• New transactions for a connected account
• Duplicate transactions
• Edited or deleted transactions

Also, if the same transaction has been both manually entered and imported from the bank feed, you should match these entries rather than adding them separately. Incorrect matching can lead QuickBooks to record the transaction twice, resulting in duplicate expenses and an inaccurate bank balance.

If this is the case, you can fix it by following the steps below:

1. Open your QBO account.
2. Go to Transactions, then Bank transactions.
3. Select your bank's tile and navigate to the Categorised tab.
4. Find those incorrectly categorised entries, then click Undo.
5. Once done, go to the For review section.
6. Then, select a transaction that says Matched and click Accept.

I'll include this article that you can bookmark if you want guidance in ensuring your bank and credit card statement matches: Reconcile an account in QuickBooks Online.

Feel free to click the Reply button if you have other questions about this.