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67 helpful votes

Tips for year-end reconciliation

If you've never reconciled your accounts, or if you haven’t reconciled on a monthly basis, you’ll need to do so at the end of the year to be sure that your financial reports are correct when preparing your taxes.

The following best practices will help with year-end reconciliation:

  • Begin with the oldest bank statement, and reconcile month-by-month up to the most recent statement.
  • The further back you start, the more likely you are to uncover errors and discrepancies.
  • If you've reconciled at some time in the past year, you need to start from that point and move forward, reconciling against each statement, one after the other, in order, up to the most recent statement.
  • If you're missing any old statements, you can ask your bank to reissue any statements you need.

  • You might not be able to see all your reconciled transactions on just one screen in Deposits or Checks and Payments, but you can select Select Next or Select Previous to scroll through them all.

These tips will help you reconcile your year-end accounts. You can also check out detailed steps on how to reconcile your accounts in QuickBooks Online.

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