QuickBooks Not Adding Up? Here’s How to Fix Common Issues

QuickBooks is a powerful tool for managing business finances, but like any software, it can sometimes cause frustration when things don’t add up. If you're dealing with incorrect balances, missing transactions, or other accounting headaches, don’t worry—you’re not alone. Here are some common QuickBooks problems and how to fix them.

1. Bank Feeds Not Syncing Properly

Problem: Transactions from your bank or credit card aren’t showing up in QuickBooks.
Fix:

• Check if your bank connection is active (go to Banking > Link Account).

• Refresh the connection by clicking Update in the Banking tab.

• If transactions are still missing, manually download and import bank statements.

2. Duplicate Transactions

Problem: You see multiple copies of the same transaction, which throws off your balances.
Fix:

• Go to Banking > Reviewed Transactions and look for duplicates.

• Match transactions instead of adding new ones whenever possible.

• Use the Reconcile feature to verify which transactions are correct.

3. Reconciliation Discrepancies

Problem: Your QuickBooks balance doesn’t match your bank statement.
Fix:

• Check for manually entered transactions that may not be in your bank feed.

• Look for incorrect opening balances (Settings > Chart of Accounts > Edit).

• Undo and redo the reconciliation process (Accounting > Reconcile).

4. Payroll Errors

Problem: Payroll calculations seem off, or tax payments are incorrect.
Fix:

• Ensure employee wage and tax settings are correct under Payroll Settings.

• Run a Payroll Summary Report to check for discrepancies.

• If payroll tax calculations are incorrect, update tax tables (Help > Update QuickBooks).

5. Unapplied Payments or Missing Invoices

Problem: Customers' payments don’t seem to be linked to invoices.
Fix:

• Go to Reports > Open Invoices to find payments that aren’t matched.

• Use the Receive Payments tool and ensure you’re applying payments correctly.

• If a payment was entered as a deposit instead of against an invoice, correct it under Banking > Deposits.

6. QuickBooks Running Slow or Freezing

Problem: Your software is sluggish or crashes frequently.
Fix:

• Clear cache and cookies (for QuickBooks Online).

• Ensure your QuickBooks Desktop version is updated.

• Reduce file size by condensing old data (File > Utilities > Condense Data).

Need Expert Help?

If managing QuickBooks feels overwhelming, kCole Bookkeeping & Small Business Consulting is here to take it off your plate. We handle your bookkeeping with accuracy and efficiency, so you can focus on growing your business stress-free.

Let’s get your QuickBooks back on track—contact us today!