How to Reconcile Banking Accounts in QuickBooks

by Steve M. QuickBooks Certified ProAdvisor

Reconciling an account at least once a month, is very important in order to make sure that the details do not mismatch with actual credit card and Bank account statements. Comparing the transactions after you receive the statement with the entry you made in QuickBooks, is important in order to avoid any kind of error. In simple words, reconciling is basically a process of matching transactions that a user entered in QuickBooks with banking or credit card company's records.


In today's blog post we are going to discuss the process to Reconcile an account in QuickBooks desktop. Moreover, if you feel that reconciling is too technical for you to handle, then make sure to get in touch with an expert and ask them to carry out the process for you. You can also make a call at our toll-free number(1-800-969-7370), and seek assistance from our QuickBooks support team



Steps to Reconcile an account in QuickBooks

Following are the quick steps to reconcile an account in QuickBooks desktop:

  •        It is very important for the user to review the opening balance, when the user is reconciling for the first time.
  •        The user needs to ensure to enter transactions for the bank statement period, he or she is planning to reconcile. In case there are any transactions that are not cleared by the bank and are not present on the statement, then the user will have to wait for them to be entered
  •        Now move to the QuickBooks desktop and click on banking menu

  •         Select the Reconcile menu and tap on account drop down menu. Followed by selecting the account that is to be reconciled
  •         Find the bank statement andnote the statement end date. Followed by entering the date in respective field in QuickBooks
  •        The QuickBooks software will automatically enter the beginning balance. Make sure to match the beginning balance on the bank statement
  •        In the ending balance field, enter the ending balance appearing on the bank statement
  •        In case the bank statement shows a service charge, avoid entering that into QuickBooks. This would be entered into the interest earned section. Also, avoid entering the charges already entered in QuickBooks

  •        Review the list of transactions on the next page. And after the difference at the bottom of the screen is zero, you are all set to click the Reconcile now option


The above stated process can help the QBusers in reconciling an account in QuickBooks desktopwith much ease, only if followed properly. However, in case of any difficulty or in case any error occurs, make sure to get in touch with our QuickBooks enterprise support team via toll free number(1-800-969-7370).


Our experts and certified QuickBooks professionals will help you in reconciling your account without any error. 

You"ll also like other article:
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About Steve M. Advanced   QuickBooks Certified ProAdvisor

61 connections, 2 recommendations, 195 honor points.
Joined APSense since, December 15th, 2017, From Washington, United States.

Created on May 5th 2020 03:15. Viewed 230 times.


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