My quick books balance is not accurately reflecting my bank balance even though it is updated.

I'm here to ensure your QuickBooks balance will accurately reflect your bank balance, @tomsergiew-gmail.

The QuickBooks balance is affected by all your transactions in the register and the ones you haven't reviewed yet. While the bank balance is solely determined based on the transactions on the register.

Now to resolve this and if you want to make sure they're similar, let's consider reviewing your QuickBooks register and start categorising and matching your downloaded transactions based on your bank statement. You can do so by following the steps outlined in this article: Categorise and match online bank transactions in QuickBooks Online.

If it was previously reconciled, we can check the discrepancy report to review any transactions that needs to be modified. 

I've also added this helpful article needed while working with bank feeds and reconciling accounts: Reconcile account in QBO.

Fill me in if you have further questions about the distinct balance between QuickBooks and your bank balance. I'll be around to assist you. Have a good one!