Bank Reconciliation in Quickbooks stands for comparing your bank statement with what you have in Quickbooks. When the difference between these two is $0.00, then your banks and book are correctly synchronized. If you are new to Quickbooks or doing the reconciliation for the first time, then follow the steps provide by Accounting Helpline below to do it correctly.
In case of any issue, you can connect with Quickbooks support team via Quickbooks Desktop Support Number (844)-888-4666 and they will help you out.
- Login to your Intuit Quickbooks Software.
- Find & click the Gear icon from the top.
- Goto Reconcile and then click Reconcile Now.
- Select the Account you want to reconcile as info fields for that account will be displayed only.
- In the last statement date, look for the Ending date field and make sure to reconcile for the following month’s statement.
- The Beginning balance on your statement should match the beginning balance in your Quickbooks online. For the mismatched beginning, balance see:- My reconcile opening balance is wrong. How do I make it match my statement?.
- Now you’ll be prompted to enter the Ending balance and Ending date. If not, means you have a reconcile in progress already.
- Enter additional info if requested. You can leave the additional field blank if your statement doesn’t have an amount for them.
- Click Start reconciling.
- Check that the total number of transaction in each type is the same between your statement and Quickbooks Online.
- Also, check the first transaction in the account statement as well as in the Reconcile window and make sure it’s correct.
- Select if it is correct
- If incorrect, manually adjust the amount in Quickbooks and select it once corrected.
- Repeat step 10 for all transaction.
- After this, look at the difference at the top of the Reconcile window and select Finish Now if the difference is equal to zero.
Note: Manual reconciliation can take up to an hour while if you connect bank to Quickbooks, then it’ll take less than 10 minutes.
In this way, One can easily reconcile their account with Quickbooks without any help. Still, there can be cases where a user may face other glitches during the process. So, in such a situation sit back and make a call to Quickbooks Customer Service Number to avail experts guidance to resolve the glitch.