Learn the reconcile workflow in QuickBooks Online.

Learn the reconcile workflow in QuickBooks Online.

Use the AI Powered Reconciliation

The AI Powered Reconciliation extracts data from uploaded bank statements and compares it with the data already in QuickBooks Online.

Note: The AI Powered Reconciliation is available in QuickBooks Online Plus, QuickBooks Online Advanced, and Intuit Enterprise Suite only.

1. Go to All apps , then Accounting, then Reconcile (Take me there).
2. Select Upload or utilize Statement Auto Import.
3. Find and select the applicable bank statement.
4. The system will auto-enter the ending balance and ending date for you.
5. Wait for the AI Powered Reconciliation to finish extracting the statement details.
6. Select Start reconciling.
7. Review the Insights tab to see the statement comparison results.

• Paired transaction - Transactions in QuickBooks that were successfully matched to the statement
• Transactions in bank feed needs review - Transactions within the statement period that are still in For Review
• Extra transactions in QuickBooks that are already uncleared* - Transactions in QuickBooks that aren't in the bank statement

Note: QuickBooks will also provide a list of potential reasons why there may be extra transactions in QuickBooks that aren’t  listed in the bank statement  --  timing differences,  duplicate entries,  manual entries,  or uncleared transfers/deposits.

Just like balancing your checkbook, you need to regularly review your accounts in QuickBooks. You need to make sure the amounts match your real-life bank and credit card statements. We call this process as reconciling (or a reconciliation).

To reconcile your accounts, you’ll need monthly bank statements for the account.

Use this guide any time you need help doing or fixing a reconciliation. If you’re new to reconciliations or need more help, reach out to your accountant. This can get tricky and they know how to handle the next steps. Don't have an accountant? We can help you find one.

For a better experience, open this article in QuickBooks Online. Launch side-by-side view

Know the reconciliation workflow

Once you have your monthly bank statements, you can compare each transaction in QuickBooks with what's recorded on your account statement. Make sure the opening or beginning balance matches the balance on your account statement for that day.

1. Enter an opening balance in QuickBooks Online
   • You may need to fix issues with your beginning balance for accounts you've reconciled before.
2. Reconcile an account in QuickBooks Online
3. Fix issues during a reconciliation in QuickBooks Online
   • You may need to enter an adjusting entry for a reconciliation in QuickBooks Online.

Know the next steps

After you reconcile an account, your QuickBooks ending balance and account statement should be the same. If not, your accounts still aren’t balanced.

• You can enter an opening balance at a later time, if you forgot it.
• You’ll need to reconcile older transactions, if you add transactions dated from before the account’s opening balance.
• Review a previous reconciliation report, if you need to make changes after you reconcile.
• You can undo individual transactions, if you reconcile it by accident.

Note: When you adjust a reconciliation by mistake or need to start over, contact your accountant. They’ll know how to correct your accounts without unbalancing them. 

Related links

• What's a reconciliation?
• How do I view, print, or export a reconciliation report?
• Undo or remove transactions from reconciliations in QuickBooks Online
• What to do if you didn't enter an opening balance in QuickBooks Online
• Reconcile transactions that are older than your opening balance
• Enter an adjusting entry for a reconciliation in QuickBooks Online