Reconciling your account—matching
the balances for your paper statement and QuickBooks account—is a two-step process in QuickBooks. First you'll compare the beginning balance on your
bank statement to the beginning balance in QuickBooks, and make sure the information for the account you want to reconcile in QuickBooks is correct. Then you'll
compare individual transactions and reconcile your account.
Note: If you clear a transaction directly in the account
register, the beginning
balance shown in the Begin Reconciliation window may not match the opening balance on your statement. Instead, clear transactions when you reconcile in QuickBooks so you start each reconciliation with a more accurate beginning balance.
To do this task
Choose Banking > Reconcile to open the Begin Reconciliation window.
In the Account field, enter or select the account you want to reconcile.
In the Statement Date field, enter the date of the bank
statement you are trying to reconcile.
Compare the amount shown in the Beginning Balance field to the opening balance amount shown on your statement.
If the opening
balances are different
Find the ending balance on your statement and enter it in the
Ending Balance field.
Enter any service charges or interest earned that you have not already accounted for in QuickBooks.
If the financial statement shows a service charge or interest
that you haven't yet entered into your QuickBooks records, enter
those amounts into the Service Charge and Interest Earned
Important: Don't enter charges you have already entered as QuickBooks transactions.
In the Account field for service charges, enter the name of the
expense account that you use to track service charges. In the
Account field for interest, enter the name of the income account
that you use to track interest income.
Click Continue to open the Reconcile window for the account
Finally, complete your reconciliation.
About reconciling your accounts (overview)
your accounts (reconcile)
a Previous Reconciliation report