In QuickBooks, when you give a transaction a checkmark, you mark it as cleared (tentatively reconciled). This helps keep track of the transactions they've found in both the statement and in QuickBooks. Most bookkeepers like to put a checkmark on the statement transaction too.If this is a connected account, downloaded transactions are automatically selected for you. Select the checkmark in the right column.Then find the same transaction in the Reconcile window and make sure it's correct. On the account statement, find the first transaction.You know you're done when the difference at the top of the window in QuickBooks equals zero. To start, remember your simple goal:įind each statement transaction in QuickBooks, make sure it's correct, and then select it. You're in the reconciliation window and ready to reconcile. There's a lot of great functionality in this window and it can be a little overwhelming but don't worry, you can learn it as you go. If there are no amounts to enter, you can leave these fields blank. Service charge and interest fields may appear for unconnected accounts. Catching an error now can make reconciling later, much easier. We recommend that you double-check what you enter. Click the link in the alert, which takes you to the discrepancy report where we show you the problem. It's important to resolve this discrepancy before you continue and we can help you do it. Open the account statement you received from your bank or credit card company.Īn alert appears.If this is the first time you've reconciled, we recommend that you start with your simplest account that has the least amount of transactions. When it equals zero, success! You reconciled your account for this statement period! When you finish checking all the transactions in the statement, check the difference at the top of the Reconcile window.Repeat this for each transaction on the statement.Experienced bookkeepers put a checkmark on the statement transaction too. Make sure the transaction amount is correct in QuickBooks, then give it a checkmark.Find the first transaction on your statement and then find the same transaction in QuickBooks.Make sure the beginning balance in the statement matches QuickBooks.When you reconcile an account in QuickBooks, the primary goals you're going to accomplish on your way to reconciliation success are to: ![]() It can be frustrating if you have to start over when you're checking transactions. Experts pick a time to reconcile when they won't be interrupted and possibly lose their place. ![]() Reconciling is simple but it requires you to focus and do one step at a time. In the steps below, we show you how to reconcile a bank or credit card account. You check the beginning balance and each transaction in the petty cash log for the period you're reconciling.
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