I'll help you with that, KN74.
When reconciling our accounts the balances in QuickBooks need to match your bank and credit card records so you have accurate financial data. In doing this process, your bank statement is the source of truth.
To offset the difference, we'll have to follow what's stated in your bank statement. We can compare your transactions in QuickBooks and the transactions in your bank statement. This way, we'll be able to figure out if there are wrong amounts recorded or there's a missing transaction in your QuickBooks account.
Once we're able to locate the discrepancy, we'll have to edit the transaction in your QuickBooks account if the amount is wrong or create a transaction if there's missing one. I'll guide you in doing this process.
Creating a transaction:
- Select the Customers, Vendors, or Employees (depends on the transaction you want to create) in the top menu bar.
- Choose the appropriate transaction type.
- Enter the necessary information.
- Make sure that the date matches the bank statement.
- Hit Save & Close.
Editing a transaction:
- Select Lists from the top menu bar.
- Choose Chart of Accounts.
- Select the appropriate bank account then
- Double-click the appropriate transaction.
- Make the necessary changes.
- Hit Save & Close.
I've added an article that will guide you in reconciling your accounts: Learn the reconcile workflow in QuickBooks.
In case you need info from a past reconciliation to fix your current reconciliation, you can refer to this article in pulling up the Previous Reconciliation report.
You can always find me here if you need more help in reconciling your accounts. Have a great rest of the day.
