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Level 1

Hi dear i have a question

how can i reconcile my quick book account to bank account
1 Comment
QuickBooks Team

Hi dear i have a question

Good morning, @tx1

 

Thanks for reaching out to the Community for support. I'm happy to lend a helping hand by providing steps to reconcile your QuickBooks account. 

 

Reconciling your accounts in QuickBooks is like balancing your checkbook. You'll compare each transaction from your bank statement with the ones entered into QuickBooks. If everything matches, you know your accounts are balanced and accurate. I've included the steps below to reconcile an account. 

 

When reconciling an account for the first time, you'll need to review the opening balance. The opening balance will need to match your real-life bank account's balance for the day you decided to start tracking transactions in QuickBooks. Don't sweat. If you haven't entered an opening balance yet, you can do so by following the steps in How to enter an opening balance later on

 

Now that we've covered opening balances, we can start reconciling. 

  1. Click on the Gear Icon, and then Reconcile. Hit Get Started to continue to the Reconcile page. 
  2. Choose the account you want to reconcile from the Account dropdown.
  3. Make sure the Beginning balance in QuickBooks matches the one on your statement. 
  4. Enter the Ending balance and Ending date on your statement. Some banks call the ending balance a "new balance."
  5. If you see it, review the Last statement ending date. This is the end date of your last reconciliation. Your current bank statement should start the day after.
  6. When you're ready to start, hit Start reconciling.
  7. Compare the transactions from your bank statement with what's in QuickBooks one-by-one. 

That's all there is to it. I'm including a few handy articles that you may find beneficial that cover all details about reconciling an account in QuickBooks Online below. 

 

Please let me know if you have additional questions or concerns. I'll be here every step of the way. You can reach out to the Community or me at any time. We're always here for you. Take care! 

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