Reconciliation with a General Ledger

kh1423 · ‎June 11, 2020

Hello, I just started a new job with a company that utilizes QB Enterprise. They are governed by another entity that uses a general ledger to keep track of the companies finances. So, instead of a bank statement I have a GL of transactions to reconcile the account by each month. My question, the ending balance I enter into QB to reconcile is the ending balance on the GL for the particular month I'm reconciling? I would say yes, but I want to make sure I'm correct. I tried to look back to see what the previous employee was using and she was using the ending balance on the check register in QB. This didn't seem right to me. HELP!

Teri · ‎June 11, 2020

I believe every accounting system has a General Ledger, that is where all detail transactions show in report.

A check register also exists in every accounting system I have ever seen but that just lists checks paid.

kh1423 · ‎June 12, 2020

If I’m not using a bank statement to balance the account, what do I use for the ending balance?

Kendra H · ‎June 12, 2020

Hello there, @kh1423.

Thanks for following up on this thread.

Before going into detail, I want to ask what you mean by not using the bank statement to balance out the account?

Below, are several articles with additional information about reconciling in QuickBooks Desktop:

I look forward to chatting with you soon. Have a safe and productive rest of your day!

Teri · ‎June 12, 2020

@kh1423 -

Just wanted to add that there are normally several accounts reconciled in accounting and Cash (Bank) is just one of them, so you might want to confirm what account(s) you are supposed to reconcile. Whatever account it is, the GL would have an ending balance at the end date of the report, for example the Cash account that is called Bank in QB is usually the first account listed in reports.

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Reconciliation with a General Ledger