Reconciling an account in QuickBooks online and desktop simply means reviewing the accounts and ensuring that the balance matches the real life bank and credit card statements. The process to review accounts is termed as reconcile an account in QuickBooks. When a user gets a bank statement, it is essential to compare each of the transactions with the ones that have been entered in QuickBooks. If it matches, then it means that the accounts are balanced. To learn further about the procedure to reconcile an account in QuickBooks, stick around this piece of writing till the end, or you can also connect with our technical support team at +1-844-499-6700, and we will provide you with immediate support and assistance.

Steps to reconcile an account in QuickBooks Online

You can try to reconcile an account in QuickBooks online using the steps enumerated below:

Step 1: Review the opening balance

Make sure that the opening balance matches to your real life bank account for the day you started tracking transactions in QuickBooks. In case you skipped entering an opening balance, then you can perform the steps to enter the opening balance later on.

Step 2: Start a reconciliation

• In case your accounts are connected to online banking, make sure you match and ctagorize all downloaded bank feed transactions.
• Once done with that, move to the settings tab and also click on reconcile.
• If you are reconciling for the very first time, then click on get started.
• From the account drop down, select the account you wish to reconcile. Make sure that it is the same as the one on your statement.
• Now review the beginning balance. Make sure that the beginning balance in QuickBooks matches the one on the statement.
• Furthermore, enter the ending balance and ending date on the statement.
• Review the last statement ending date.
• This is the ending date of the last reconciliation. Your current bank statement should begin the day after.
• Now, click on start reconciliation tab.

See Also: QuickBooks Error 1618

Step 3: Compare your statement with QuickBooks

You now have to compare your transactions on the statement with what’s in QuickBooks. Make sure that you have the right dates and transactions in QuickBooks.

Conclusion!

By the end of this segment, we believe that the reader might be able to reconcile an account in QuickBooks. However, if there is any query left unanswered, or if the user needs any sort of technical guidance, then in that case, feel free to connect with our technical support team at +1-844-499-6700, and we will provide you with immediate support and assistance.

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