When you reconcile an account, you make sure that the information recorded is correct. QuickBooks Online allows you to reconcile your accounts easily. To do that, take the following steps:
- Click the Gear menu at the top of QuickBooks and select Reconcile in the Tools section.
- Select an account in the Account drop-down list and click the Reconcile Now button.
- Look at your bank statement for the selected account.
- Enter the statement end date and ending balance amount of the bank statement into the corresponding text boxes in QuickBooks.
- Compare the transactions on your bank statement with the transactions in QuickBooks.
- Check the checkbox in front of each matched transaction.
- When all the transactions matched, the Difference value at the bottom should show zero.
- Click the Finish Now button.