The difference between the banking tab and the actual bank account on QuickBooks Online

Banking Tab

You can connect your bank and credit card accounts directly to QuickBooks Cloud. Each day QuickBooks will pull all transactions from the previous banking day.

The data is then brought into a review area in QuickBooks for you to post to your accounts. Other features such as rules then let you tell the system what to do with each entry in the future.

QuickBooks will also search the system for invoices that match the amount coming in from the bank and ask you if you are happy to match them.

It is important to understand that this section of QuickBooks is a review area first. No entries go to your bank account unless you set them to auto enter which we do not suggest for new users.

Accounting Tab

After you have used the banking integration to accept the figures, they will move to the actual bank account on the Balance Sheet.

In this section you can click on the Reconcile tab to prepare the bank reconciliation.