If you've never reconciled your accounts, or if you don't reconcile them regularly, don't worry. Reconciling your accounts checks them for accuracy. You need to reconcile all of your accounts by the end of the year to prepare for tax season.
If you're new to reconciling or have issues, start with our reconciliation guide.
Here are a few things to keep in mind for year-end reconciliations:
- Get all of your bank and credit card statements together before you start. If you don't have them all, get them from your bank's website or contact them directly.
- Your bank and credit card statements are the source of truth. QuickBooks should always match them, not the other way around.
- Always start with your oldest bank statement. Then reconcile each month, one at a time. The order matters. If there's an issue with an earlier reconciliation, it affects all reconciliations going forward.
- If you reconciled an account at some point during the past year, start from where you left off. Then continue to reconcile each month, one at a time.
- If you have a lot of transactions to reconcile in QuickBooks, you may not see them in a single window. Use the search and filter features to narrow down the list.
Now you're ready to start. Here are detailed steps for how to reconcile your accounts in QuickBooks Online.