banking

The amount in Zoho Books and my bank account does not match. What should I do?

The following are instances where you can spot a mismatch between transactions in your Zoho Books organization and your bank account:

  1. There are uncategorised transactions recorded in Zoho Books which are yet to be reconciled with the actual transactions in your bank account. To amend this, you can Match and Categorize uncategorised transactions in Zoho Books to a corresponding bank statement.

  2. If you’re still unable to match the uncategorised transactions, check if you have manually added any transaction that could be a possible duplicate.

  3. If you have added a bank account in Zoho Books, you can fetch the feeds for transactions from the last 90 days. If there’s a transaction balance beyond this period, the amount in Zoho Books may not match your bank account.

You can record the balance amount by adding transactions manually. To do this:

  • Go to the Banking module on the left sidebar.
  • Select the account for which you want to match the balances.
  • Click the Add Transaction dropdown and select the preferred transaction under the Money Out / Money In section.
  • Fill out the required details in the transaction pop-up that appears.
  • Click Save and your transaction will be recorded.

Now, with respect to the opening balance in your organization, it can be either less than or greater than your bank account balance. Here’s what you should do:

  1. Opening balance in Zoho Books is less than account balance,
  • Go to the Money In section and from the drop-down, select Deposit from Other Accounts.
  • Enter the amount and select Opening Balance Offset in the From Account field.
  • Click Save to proceed.
  1. Opening balance in Zoho Books is greater than account balance,
  • Go to the Money Out section and from the drop-down, select Owner Drawings.
  • Select Opening Balance Offset in the To Account field.
  • Enter the Amount.
  • Click Save to proceed.

Now, the amount in Zoho Books will be the same as your bank account. Always ensure that the amounts match to maintain accurate records.


Was this document helpful?
Yes
No
Thank you for your feedback!
Want a feature?
Suggest


Switch to smart accounting software. Switch to Zoho Books.   Start my free 14-day trial Explore Demo Account

Books

Online accounting software
for small businesses.