diff --git a/.github/workflows/check.yml b/.github/workflows/check.yml
index 4e949a465b9..6e00fcb98f9 100644
--- a/.github/workflows/check.yml
+++ b/.github/workflows/check.yml
@@ -41,7 +41,7 @@ jobs:
     runs-on: ubuntu-latest
     steps:
       - uses: actions/checkout@v3
-      - uses: actions/setup-node@v2
+      - uses: actions/setup-node@v3
         with:
           node-version: '19'
       - name: Check migrations
diff --git a/.github/workflows/issues-feature-implemented.yml b/.github/workflows/issues-feature-implemented.yml
index 039ee5e500b..4c8bf1ea7f2 100644
--- a/.github/workflows/issues-feature-implemented.yml
+++ b/.github/workflows/issues-feature-implemented.yml
@@ -25,7 +25,7 @@ jobs:
     steps:
       # This is not a security concern because we have approved & merged the PR
       - uses: actions/checkout@v3
-      - uses: actions/setup-node@v2
+      - uses: actions/setup-node@v3
         with:
           node-version: '19'
       - name: Handle feature requests
diff --git a/packages/desktop-client/src/components/accounts/Account.js b/packages/desktop-client/src/components/accounts/Account.js
index 7332c4cfdc0..638159a16b6 100644
--- a/packages/desktop-client/src/components/accounts/Account.js
+++ b/packages/desktop-client/src/components/accounts/Account.js
@@ -15,6 +15,7 @@ import * as queries from 'loot-core/src/client/queries';
 import q, { runQuery, pagedQuery } from 'loot-core/src/client/query-helpers';
 import { send, listen } from 'loot-core/src/platform/client/fetch';
 import { currentDay } from 'loot-core/src/shared/months';
+import { getScheduledAmount } from 'loot-core/src/shared/schedules';
 import {
   deleteTransaction,
   updateTransaction,
@@ -137,7 +138,7 @@ function AllTransactions({
       .map(scheduledTransaction => {
         let amount =
           (scheduledTransaction._inverse ? -1 : 1) *
-          scheduledTransaction.amount;
+          getScheduledAmount(scheduledTransaction.amount);
         return {
           balance: (runningBalance += amount),
           id: scheduledTransaction.id,
diff --git a/packages/desktop-client/src/components/accounts/Balance.js b/packages/desktop-client/src/components/accounts/Balance.js
index 8a2b7dde72b..700e2683d33 100644
--- a/packages/desktop-client/src/components/accounts/Balance.js
+++ b/packages/desktop-client/src/components/accounts/Balance.js
@@ -2,6 +2,7 @@ import React from 'react';
 
 import { useCachedSchedules } from 'loot-core/src/client/data-hooks/schedules';
 import q from 'loot-core/src/client/query-helpers';
+import { getScheduledAmount } from 'loot-core/src/shared/schedules';
 
 import { useSelectedItems } from '../../hooks/useSelected';
 import ArrowButtonRight1 from '../../icons/v2/ArrowButtonRight1';
@@ -15,7 +16,7 @@ import format from '../spreadsheet/format';
 import useSheetValue from '../spreadsheet/useSheetValue';
 import { isPreviewId } from '../transactions/TransactionsTable';
 
-function DetailedBalance({ name, balance }) {
+function DetailedBalance({ name, balance, isExactBalance = true }) {
   return (
     <Text
       style={{
@@ -28,7 +29,10 @@ function DetailedBalance({ name, balance }) {
     >
       {name}{' '}
       <PrivacyFilter>
-        <Text style={{ fontWeight: 600 }}>{format(balance, 'financial')}</Text>
+        <Text style={{ fontWeight: 600 }}>
+          {!isExactBalance && '~ '}
+          {format(balance, 'financial')}
+        </Text>
       </PrivacyFilter>
     </Text>
   );
@@ -63,12 +67,19 @@ function SelectedBalance({ selectedItems, account }) {
   let previewIds = [...selectedItems]
     .filter(id => isPreviewId(id))
     .map(id => id.slice(8));
+  let isExactBalance = true;
+
   for (let s of schedules) {
     if (previewIds.includes(s.id)) {
+      // If a schedule is `between X and Y` then we calculate the average
+      if (s._amountOp === 'isbetween') {
+        isExactBalance = false;
+      }
+
       if (!account || account.id === s._account) {
-        scheduleBalance += s._amount;
+        scheduleBalance += getScheduledAmount(s._amount);
       } else {
-        scheduleBalance -= s._amount;
+        scheduleBalance -= getScheduledAmount(s._amount);
       }
     }
   }
@@ -83,7 +94,13 @@ function SelectedBalance({ selectedItems, account }) {
     balance += scheduleBalance;
   }
 
-  return <DetailedBalance name="Selected balance:" balance={balance} />;
+  return (
+    <DetailedBalance
+      name="Selected balance:"
+      balance={balance}
+      isExactBalance={isExactBalance}
+    />
+  );
 }
 
 function MoreBalances({ balanceQuery }) {
diff --git a/upcoming-release-notes/1473.md b/upcoming-release-notes/1473.md
new file mode 100644
index 00000000000..ee5b1f7588e
--- /dev/null
+++ b/upcoming-release-notes/1473.md
@@ -0,0 +1,6 @@
+---
+category: Bugfix
+authors: [MatissJanis]
+---
+
+Fix approximate schedule values showing in balance pill when selected