Bank balance feed does not match actual balance

[NickD]

I have linked my business account to Quickfile but the current balance it displays is more than twice what the actual balance from the bank is. Do you know what I might have done or is there anyway I can set it to the actual balance?

[QFMathew]

Hi @NickD

How do you mark invoices as paid? Do you tag them from the bank statement, or do you use the “Log Payment” button on the invoices themselves?

In terms of fixing it, I would assume there are untagged transactions which would be duplicates causing this issue. Initially, you would use the recon tool to identify the errors, and it’s just the case of removing any transactions which don’t match your bank statement. There’s more info on the recon tool here: Reconciling your bank

[NickD]

Thanks for the quick reply. I think I put all my invoices in before I added the bank account feed. I have recently started tagging them. I have been tagging everything in the bank feed and am up to date with that.
I marked an invoice recently as paid but when it has appeared in my bank feed it won’t let me tag it against that payment.

I’ll try the reconcile and see how I get on

[ian_roberts]

@NickD

I marked an invoice recently as paid but when it has appeared in my bank feed it won’t let me tag it against that payment.

If you logged payment on the invoice itself then that will have created a pre-tagged transaction already in whatever bank account you selected at the time.

For things where you’re paying from (or being paid to) an account with a feed, it’s better not to mark the invoice as paid directly, but instead wait until the transaction comes up in your feed and tag it from there. If you do both you’ll get duplicates.