How To Reconcile in QuickBooks Desktop?

Basically, reconciliation in QuickBooks is the process of matching the transactions of your QuickBooks account with your bank account. This process is also known as QuickBooks Bank Reconciliation. It is necessary to reconcile your QuickBooks accounts on a regular basis. This will result in avoiding confusions and enhance accuracy in your accounting books. 
Things To Remember Before Performing Reconciliation in QuickBooks
The following are some of the things that you need to keep in mind before reconciliation in QuickBooks:
  • Make sure to create a backup for all your company files.
  • Ensure that you have a proper record of your bank as well as your QuickBooks accounts.
  • You should have the record of your deposit, payments, and bank charges.
  • Enter all the uncleared transactions in the books prior to reconciliation.
  • A proper record of your bank account statement.
  • Make sure that your QuickBooks bank account has the correct balance of beginning.
Steps to Reconcile in QuickBooks Desktop
Given below are the steps to reconcile in QuickBooks desktop:
  • Proceed to the ‘Banking’ menu.
  • Choose the ‘Reconcile’ option.
  • From the ‘Account’ field, choose the bank account that you want to reconcile.
  • You will notice that the date of statement is already there. It generally is 30 or 31 days after the prior date of the statement.
  • Alos, the beginning balance will already be filled out. It will be the sum of all the prior transactions that are cleared. Ensure that the beginning balance in both of your bank account and QuickBooks accounts are the same.
  • In the field of ‘Ending Balance’, fill out the balance from your bank statement.
  • In case, your bank is displaying bank charges, service charges, or any other interest charges, make sure to enter those amounts too in your QuickBooks account.
  • After that, move to the ‘Locate Discrepancies’ in order to see reports that are related to the discrepancies and any other reconciliation problems. 
  • Choose the ‘Undo Last Reconciliation’ option if a pop-up appears asking to undo your prior reconciliation.
  • Check all the information and click ‘Continue’.
  • In the Reconciliation window, make the necessary changes.
  • After that, click the ‘Ok’ option.
In Conclusion:
The above article is based on the information regarding How To Reconcile in QuickBooks Desktop. If the above steps didn’t work out for you, contact the QuickBooks Error Support professionals on this number: 1- 877- 349- 3776.
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