I can walk you through reconciling your bank account, sivakumar-alkur-.
You need to make sure the amounts match your real-life bank and bank or credit card statements. Once you have it, you can reconcile your accounts. You'll just have to compare each transaction in QuickBooks with what's recorded on your bank statement.
To start, review your opening balance. It is the balance of your real-life bank account for the day you decided to start tracking transactions in QuickBooks. Then, add transactions to this account or if your accounts are connected to online banking, make sure you match and categorise all of your downloaded transactions.
Afterward, use these steps in reconciling the account:
- Go to the Accounting menu and select Reconcile.
- Select the Account you want to reconcile. Make sure it's the same one on your statement.
- Review the Beginning balance and it should match the beginning balance in QuickBooks from the one on your statement.
- Enter the Ending balance and Ending date on your statement. Some banks call the ending balance a "new balance."
- 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.
- When you're ready to start, select Start reconciling.
In the end, make sure the difference between the account in QuickBooks and your bank statement should be $0.00.
No worries, I've attached a link that will help you through the reconciliation process. If there are amounts that don't match, you can see attachments on how to fix it as well. You can click here.
Keep me posted if there's anything else that you need help with. I'll be around the corner to keep an eye on your replies. Take care and have a great day!
