Reconcile bank statements QuickBooks Online

Many QuickBooks users deal with this misconception that reconciling means adding or matching transactions in the bank feed window, but this is not true. It is just the basic step and not the complete procedure. However, due to this, the process can go on smoothly. This blog will help you out with the actual solution on how can you reconcile bank statements to QuickBooks online with a step by step procedure. For your help, the expert advice of QuickBooks customer service is always available with you to 24*7.

Firstly, to reconcile, you will need your monthly bank statements. They come in your mail every month, or you can log in to your bank to view those. The bank statements have the following things in common even though it may look a little different from the exterior side.

• The range of data from the month starting to month end.
• The bank balance at the starting of the period.
• The bank balance at the end of the period may be when you leave your job.
• By looking at the copy of your bank statement, you will be able to analyze it much better.

Now have a look at the steps that how can you reconcile the bank statements

• Access QuickBooks online software from anywhere you want and login via your administrative ID.
• Now look for the Settings icon (looks like a gear icon) in the top right corner and click on that.
• You can now see a list of various options available. From that click on Reconcile.
• Now choose ‘Reconcile an account.’
• After that, select the bank account that you wish to reconcile.
• Fill the following details

1. Account-The type of account you wish to reconcile.
2. Your beginning balance, ending balance and ending data
3. Click on ‘Start Reconciling’

• Once done, you will be able to see the following details
1. Your beginning balance
2. Your ending balance
3. The payments that you had made
4. The deposits that you have received.

• Here are a few other details are given to make the process more easy and smooth for you.
1. You can view a column date which signifies the date of transaction.
2. The cleared date signified when you had cleared your transaction from the bank.
3. The transaction type, which means the kind of payments you have done, i.e., checks, bill deposits, etc.
4. The reference number or the check number
5. The account which holds information about the income and expense category.
6. The payee, indicating the name of your customer.
7. A matching symbol, which shows the transactions that were reconciled.
8. The payment column is indicating the payments made.
9. The deposits are showing the money that was deposited in your account.

This was the process by which you can easily reconcile your bank statements to the QuickBooks Online. If you feel that you need external advice and expert help, you can always dial the QuickBooks phone number to resolve your queries.

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