Let me provide you with some details about the reconciliation process, Joy.
Reconciliation involves comparing your records of transactions with the bank's official statement. If left unreconciled, this may result in unnoticed errors like double charges, unauthorized withdrawals, or overlooked deposits.
If you don't want to see some of your transactions on the Reconcile page, you can use the filter option to select only those transactions that need to be reconciled. I've added a screenshot for your visual guide:
I also suggest you reach out to an accounting professional so they can give you advice, guide you, and take a look for another option aside from reconciling your previous transactions. In the meantime, here's how you can reconcile accounts connected to online banking. You can follow the steps outlined below:
- You can start with the first transaction on your statement. Look for the same transaction in the Reconciliation window in QuickBooks.
- Compare the two transactions. If they match, put a checkmark next to the amount in QuickBooks. This marks it as reconciled. To speed things up, transactions that you added or matched from online banking are already selected for you.
- When a transaction doesn't appear on your statement but you see it in QuickBooks, don't put a checkmark.
- Compare each transaction on your statement with what's in QuickBooks. If you're sure you've found a match but something small isn't quite right, like the payee, don't worry. Select the transaction in QuickBooks to expand the view. Then select Edit. Make edits so the details match your statement.
- When you reach the end, the difference between your statement and QuickBooks should be $0.00. If it is, select Finish now.
To know more about how to reconcile an account, check out this article for reference: Reconcile An Account in QuickBooks Online.
Additionally, you may sometimes encounter problems after your reconciliation. Learn how to fix beginning balance issues, I've got this article for more details: Fix Issues for Accounts You've Reconciled in the Past in QuickBooks Online.
Keep in touch if you need further assistance with reconciliation. Remember, we're here to help you all the time.