Then, prepare for the reconciliation and make sure you enter all transactions from the bank statement period you plan to reconcile.
After preparing, you can now start your reconciliation. Please follow the detailed steps below:
Go to the Banking menu, then select Reconcile.
Select the bank or credit card account you want to reconcile in the Account field.
Choose the date of the bank statement from the Statement Date.
Enter the beginning balance and make sure it matches the balance on your bank statement.
In the Ending Balance field, enter the ending balance appears on your statements.
If your bank has service charge or interest, enter the amount in the field. Don't enter charges you've already entered in QuickBooks.
Review the field to ensure it's correct, then click Continue to start reconciling.
Once done, compare your bank statement and QuickBooks. When you're ready, start with the first transaction on your bank statement.
Find the same one in the Reconciliation window in QuickBooks.
Compare the transactions, then put a checkmark if they match. This reconciles the transaction.
Compare each transaction on your statement with what's in QuickBooks. As you clear or add transactions to the reconciliation, the Cleared Balance amount decreases. The amount increases if you clear or add deposits and other credit amounts.
When you reach the end, the difference between your bank statement and QuickBooks should be $0.00. If it is, select Reconcile now to complete the reconciliation.
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