banking

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

There could be a few possible reasons for a mismatch between your amount in Zoho Books and the amount in your bank.

  1. It could be due to uncategorized transactions recorded in Zoho Books but not reconciled to an actual transaction in your bank account. To rectify this, you can Match and Categorise uncategorised transactions in Zoho Books to a corresponding bank statement.

  2. If you’re still unable to match the uncategorized transactions, check if you have any manually added transaction that could be a possible duplicate. Check if any duplicate feeds are pulled in and if you have categorized the same.

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

To rectify this, you can record the balance amount within the Banking module by adding a transaction 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 Add Transaction in the top right side of the page.

If the opening balance in Zoho Books is less than your bank account balance:

  • Go to Money In in the dropdown and select Deposit From Other Accounts.
  • Enter the Amount.
  • Select Opening Balance Offset in the From Account.
  • Click Save.

If the opening balance in Zoho Books is more than your bank account balance:

  • Go to Money Out in the dropdown and select Owner Drawings.
  • Select Opening Balance Offset in the To Account.
  • Enter the Amount.
  • Click Save.

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

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