Expert Guideline to Reconcile Your QuickBooks Online Integrated Bank Accounts

By reconciling a bank account, a user can compare the beginning balance and all the transactions listed in the QuickBooks company file compared to the monthly statements created by the user’s bank. The user’s bank statement and QB company file should match each other to be reconciled. The only difference could be found here is the open checks that yet have to be cleared on that month. The thing to remember here is reconciling related errors and problems should be immediately consulted with a professional of QuickBooks Online Accountant.

So, Why a QB User Should Require Reconcile?

• To confirm all the company bookkeeping is complete

• To enhance confidence in bookkeeping while simplifying overall tax time

• To confirm customers are paying on right time

• To pay organization bills on-time while avoiding unhappy vendors and late fees

• Can take fast, decisive and informed action with discrepancies banking

• Easy determining of any banking errors 

• To enable better business decisions and possible results for the organization

• Quick determination of fraudulence

How to Reconcile QB Registered Transactions with Bank Statement?

• Sign in to QBO and select the Gear icon on top.

• Choose Reconcile and then Reconcile Now.

•       Select the desired account to reconcile.

• If the exact account was reconciled before, check for the Ending Date field and make sure the              reconciling results are per your required time period.

• Match the beginning balance of your statement and the same in QBO, it should be the same.

• Enter Ending Balance and Ending Date

• Enter all the additional information

• Now start reconciling

Now, the user needs to verify all the transactions captured between the bank statement and QBO and ensure they match. If by any chance the number of transactions mismatches, the bank statement has more transactions than QB Online, or the statement has fewer transactions than QBO, expert guidance will be needed with help of a support serving QB PHONE NUMBER. If the difference is zero then mark the transactions as reconciled in QBO. Select the Finish Now from the drop-down menu at the top right to complete the process.

QB users can also Contact via QuickBooks Online Support to get complete help regarding any reconcile errors.