Accounts & banking
Understand bank balances and book balances
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The bank and your books answer related but different questions. Comparing the same account at the same date is the starting point for reconciliation.
Bank balance
A connected account can show a balance observed by the provider. Its date matters. A newly requested refresh does not automatically mean the balance has been updated successfully.
Book balance
Book amounts come from reviewed ledger postings. An imported transaction waiting for review has not yet completed that process. Manual accounts rely on your recorded postings rather than a live bank observation.
Why they can differ
- Transactions still need categories, funds, or review.
- A starting balance is missing or incorrect.
- The two figures cover different dates.
- A check has been recorded but has not cleared, or a deposit is still in transit.
- Activity is missing, duplicated, or changed by the bank.
Investigate the difference
Check the starting balance and transaction list first. Then use the month-end reconciliation workspace to compare the book amount with dated bank evidence and document actual timing differences. Do not add an unexplained adjustment simply to make the numbers match. See Reconcile an account at month-end.
Fund balances are another view
A fund’s balance describes resources assigned to that fund. It is not the balance of a separate bank account and is not automatically cash available for a purchase.
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