QuickBooks is essential software to keep all the accounting
procedures simple and understandable. The trickiest features and processes can
be corrected if you have QuickBooks with you. Today, we will discuss the steps
to reconcile accounts in QuickBooks. For more updates on this, you can directly
call the experts by calling them at Quickbooks support phone number.
Solution
Navigate to the
Reconcile Menu-
From the home screen, click on the ‘Gear Menu’ and below the
column heading ‘Tools,’ choose the Reconcile tab.
Choose the Account-
On the ‘Reconcile overlay,’ select the account you want to settle
from the ‘drop-down menu’ selections.
Once you have selected your account, click on ‘Reconcile Now.’
Enter Statement Details-
Now take a look at a copy of the bank report for the account
you are reconciling with QuickBooks. Take note of the Statement End Date & the
Ending Balance amount.
Back in QuickBooks, you will see the Reconcile overlay. Enter
the Statement End Date into the calendar drop-down menu.
Next, enter the statement’s Ending Balance on the Reconcile
overlay and click on ‘OK’ when you are done.
Match Expenses-
Now the real work instigates. Take an extra look at the
transaction history on your bank statement.
Finish Reconciliation-
When you get the ‘difference value’ at the bottom to zero
just click on ‘Finish Now.’
Now, click on ‘Run Report’ to open a full report of your
reconciliation.
