Standard Bank update balance shows available balance (i.e. including overdraft facility), rather than Current balance. How do I correct this?

The balance showing in the Banking, Bank Balance section of the feed includes the overdraft facility. Is there a setting to get the current balance (excluding overdraft facility)?

Further, when I reconcile the bank balance, will QBO have a problem when the balance I enter for the statement balance does not agree to the Bank Balance per the feed on the relevant date?

Thanks

 

Answer

Thank you for posting, cd-mitch.

Let me provide some information about reconciling your bank transactions in QuickBooks Online.

As designed, QuickBooks Online will always show the available balance of your bank account. The feature to customize the balance that’ll show on your account is still unavailable.

When you reconcile and the bank balance does not agree, there’s are a lot of troubleshooting steps in resolving its differences. Here are some:

  • For account mismatches, make sure that the Reconcile page displays the correct account.
  • In case that your Statement information mismatches, make sure the statement information you entered at the beginning of the reconciliation is correct.
  • If you encounter mismatched number of transactions, check the total number of transactions listed on screen for each transaction type to the number of transactions listed on your statement.
  • If you can't find any errors in QBO, then this might be due to your financial institution mistake. Check this Handle errors on your bank or credit card statement. article for more information.  

See this How to resolve reconciliation differences article for more information about this. 

That should help you reconcile your bank transactions. Let me know If you need more help concerning the reconciliation, by leaving a comment below. I'll be here to help. Have a great weekend. 

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IntuitMaryJoy , Community Support Specialist
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