Learn the reconcile workflow in QuickBooks Online.

Learn the reconcile workflow in QuickBooks Online.

Use the AI Powered Reconciliation

The AI Powered Reconciliation extracts data from uploaded bank statements and compares it with the data already in QuickBooks Online.

Note: The AI Powered Reconciliation is available in QuickBooks Online Plus, QuickBooks Online Advanced, and Intuit Enterprise Suite only.

Note: QuickBooks will also provide a list of potential reasons why there may be extra transactions in QuickBooks that aren’t  listed in the bank statement  --  timing differences,  duplicate entries,  manual entries,  or uncleared transfers/deposits.

Just like balancing your checkbook, you need to regularly review your accounts in QuickBooks. You need to make sure the amounts match your real-life bank and credit card statements. We call this process as reconciling (or a reconciliation).

To reconcile your accounts, you’ll need monthly bank statements for the account.

Use this guide any time you need help doing or fixing a reconciliation. If you’re new to reconciliations or need more help, reach out to your accountant. This can get tricky and they know how to handle the next steps. Don't have an accountant? We can help you find one.

Know the reconciliation workflow

Once you have your monthly bank statements, you can compare each transaction in QuickBooks with what's recorded on your account statement. Make sure the opening or beginning balance matches the balance on your account statement for that day.

Know the next steps

After you reconcile an account, your QuickBooks ending balance and account statement should be the same. If not, your accounts still aren’t balanced.

Note: When you adjust a reconciliation by mistake or need to start over, contact your accountant. They’ll know how to correct your accounts without unbalancing them. 

Related links