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Level 1

Credit Card Ending Balance in Reconciliation

How do i figure out what the ending balance would be for my credit card reconciliation.  Our company has 3 different credit cards, which go into the credit card payables account.  When I open the reconciliation, it has the beginning balance and i have to enter the ending balance, how am i coming up with the ending balance?   

1 Comment
QuickBooks Team

Credit Card Ending Balance in Reconciliation

Hello there, @Donna.

 

In QuickBooks Desktop, you can reconcile your credit card account to know what your ending balance will be. To do that, you need to review your credit card account in QuickBooks to make sure they match your real-life bank and credit card statements. You can compare the list of transactions with what you entered into QuickBooks. If everything matches, you know your accounts are balanced and accurate.

 

If you think all of your credit card transactions match your bank statement, you may proceed to reconcile your account to get the ending balance. 

 

Here's an article that will provide a detailed step to reconcile an account in QuickBooks Desktop: Reconcile an account in QuickBooks Desktop

 

I also encourage you to check out the helpful resources below:

 

·        Reconcile hub.

·        Fix an opening balance to match a bank statement.

·        How to fix differences between QuickBooks balance and bank balance.

 

If you have other questions, don't hesitate to add a reply below. I'm always here to help. Stay safe. 

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