Quick Steps To Reconcile Accounts In Quickbooks

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.