Incorrect Bank Balances

Blue Lizard

Hi, I use QuickBooks for business and Quicken Classic to organize my personal accounts, including my business checking accounts. I have been using Quicken for a few months, but have noticed that the balances on my checking accounts are pretty far off from my reconciled QuickBooks balances. The ending balance on one of my checking accounts is showing $86,529, where my QuickBooks balance is showing $115,848, which is verified accurate. Both Quicken and QuickBooks show the online bank balance correctly, which does not include pending transactions. I have tried all the easy stuff like restarting and making sure all is up to date.

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Quicken Alyssa

Hello @Blue Lizard,

Thank you for sharing your experience, and I am happy to help.

Really, the only way to know what could be causing a discrepancy in your balance would be to reconcile your account(s). In this scenario, it would probably be best to reconcile using your bank statement. This way, you can go line by line and verify if there are any transactions missing or even duplicated.

If you have reconciled this account before, I would look back in the register to see when the balance was last correct, and then look for the cause of the discrepancy from that point forward. Another thing to look for would be balance adjustments that may have been added during previous reconciliations. Sometimes those can throw the balance off.

Check out this Support Article on reconciling accounts in Quicken for Windows, and let me know if you need help along the way.

Thank you!