Bank Recs

devapatir · ‎January 22, 2021

Hello,

I have to go back and do bank recs for the last 3 months.

My 2020 monthly balance sheet matches identically the ending cash balance for each month of 2020 including the months that have not had an official bank rec performed.

The reason it is easy to make end of month balances match is because we might write 1 or 2 checks per month. All the other transactions are electronic so there is no delay in "cashing" checks.

Nevertheless, when I went to do October's bank rec the opening balance indicates $174,446.34 yet the balance sheet and the bank statements show identical balances of $274,222.43.

Any thoughts?

Thanks,

Mike

MaryAnn_E · ‎January 22, 2021

Hi there, @ devapatir.

The balance showing for this account in your Balance Sheet will include all transactions entered into that account, regardless of whether they have been reconciled or not.

For the two balances to match, all transactions would need to be reconciled or any unreconciled transactions would need to be removed.

If you need more about how reconciliation work in QuickBooks, you can use these articles for reference:

Please don't hesitate to reply if you have further questions, or reach out to our Support Team for assistance.

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