Bank Acct

Fix common banking and reconciliation issues

When you work with bank feeds and reconcile your accounts in QuickBooks Online, you might occasionally see discrepancies, missing transactions, or duplicate entries. We’ll show you how to resolve these common issues so your books stay accurate.

Resolve transfer and deposit errors

Sometimes, money moving between accounts or sales deposits are recorded incorrectly, causing confusion during reconciliation.

Fix transfers between accounts

If you moved money from one account to another (for example, from an operating account to a Trust & Interest account, or from Petty Cash to a bank account), use a Transfer. Do not record this as an expense or income.

1. Select the + New button.
2. Select Transfer (usually found under the “Other” column).
3. Select the Transfer Funds From account and the Transfer Funds To account.
4. Enter the Transfer Date and the Amount.
5. Select Save and close.

This moves the funds out of one account and into the other correctly.

Correct deposits appearing as withdrawals

If part of a deposit appears on the withdrawal side of your reconciliation, or if you see both a deposit and a check (payment) for the same entry, the account selected on the deposit form is likely wrong.

1. Open the deposit you are reviewing.
2. Look at the lines in the deposit detail. Ensure the Account column is pointing to an income account (like “Sales” or “Services Income”), not the bank account you are depositing into.
3. If you see the bank account listed, change it to the correct income account.
4. Select Save and close.

This removes the duplicate “withdrawal” or check entry and ensures the income is recorded properly.

Troubleshoot the reconciliation window

If you are in the Reconciliation window and transactions aren’t showing up where you expect them, check these common causes.

Transactions aren’t appearing

If you don’t see a payment or charge you expect to reconcile:

• Check the date filter: Look for the small checkbox labeled Hide transactions after the statement date. If this is checked, uncheck it to see if the transactions are dated in a future period.
• Verify the bank account: Open the transaction (via the Vendor or Customer center) and ensure it is posted to the correct bank account. If it was assigned to the wrong account, it won’t appear in the current reconciliation.
• Check for cleared status: If a transaction has a lightning bolt or an R in the cleared status column, it may have been cleared in a previous reconciliation or matched via bank feeds.

Reconcile older accounts

You can reconcile accounts going back more than 90 days. The process is the same as for current statements. Ensure you have your opening balance and the correct statement ending date and balance for the period you are reviewing.

Manage bank feeds and duplicates

Connecting your bank feeds saves time, but it can sometimes lead to duplicates or confusion if you manually delete transactions.

Handle duplicate checks or transactions

If a check appears twice, or if you delete a transaction that was previously matched to a bank feed item, the bank feed item returns to the “For Review” (bank feed) queue.

1. Go to the Banking or Transactions menu and select the bank feed.
2. Look in the For Review tab.
3. You can select the returned transaction and choose Match to link it to the existing entry in QuickBooks.
4. If it is a duplicate that should not be recorded, select it and choose Exclude.

Connect and enter bank feeds

To get started with bank feeds:

1. Go to the Banking or Transactions menu.
2. Select Connect account (or Link account).
3. Search for your financial institution and follow the prompts to log in and download transactions.

Understand account numbers

In your Chart of Accounts, you may see fields for both “Number” and “Bank Acct. No.” These serve different purposes:

• Number: This is the internal ID you assign to the account in QuickBooks for sorting and organizing (e.g., 1000 for Checking). This is optional unless your accountant requires it.
• Bank Acct. No.: This is the actual account number from your bank. It helps you distinguish between accounts if you have multiple accounts at the same bank.

You can edit these details by going to Settings (gear icon) > Chart of Accounts, selecting the account, and clicking Edit.