cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Discover the updated GST rates in QuickBooks Online Singapore Find out more
123145751422637
Level 1

Bank Reconciliation

My QB has not done bank reconciliation from 2021. How do we skip the bank reconciliation last year and start from 2022?

1 Comment 1
Daniela_A
QuickBooks Team

Bank Reconciliation

Let's make things easier for you @123145751422637.

 

You can reconcile transactions without having to do it one month at a time if you have multiple months or even years' worth of transactions that have not been reconciled to your financial statements. We just need to make sure to enter the last ending statement that matches your real-life bank statements and adjust the date to start at 2022.

 

Proceed as follows:

 

  1. In QuickBooks Online, select Settings ⚙ and then Reconcile.
  2. From the Account ▼ dropdown, select the account you want to reconcile. Make sure it's the same one on your statement.
  3. Review the Beginning balance. Make sure the beginning balance in QuickBooks matches the one on your statement. Here's what to do if they don't match.
  4. Enter the Ending balance and Ending date on your statement. Some banks call the ending balance a "new balance" or a "closing balance".
  5. If you see it, review the Last statement ending date. This is the end date of your last reconciliation. Your current bank statement should start the day after.
  6. When you're ready to start, select Start reconciling.

That should do it the trick! You may also browse this article to learn more about this process: Reconcile an account in QuickBooks Online.

 

If you run into any hurdles reconciling your bank or credit card account, these resources contain solutions on how to resolve them. The troubleshooting is scenario-based so I recommend selecting the one that fits your situation.

 

Should you need any assistance with viewing your opening and closing balances, ankur1306, please leave a reply below. I'm always available to help. Take care!


 Please let me know if you have more questions about this or anything else. I'm more than willing to assist. Take care.