How to Reconcile Bank Account in QuickBooks Online?
January 15, 2024 ⚊ 1 Min read ⚊ Views 33 ⚊ TECHNOLOGY
Reconcile Bank Account in QuickBooks Online is a crucial step to ensure your financial records match your actual bank transactions. It’s like giving your finances a double-check to avoid errors. Here’s how it works: First, go to the “Banking” tab and select “Reconcile.” Choose the account you want to reconcile and enter the statement date and ending balance from your bank statement. Now, compare this with the transactions in QuickBooks Online. Mark each transaction that matches your bank statement, and QuickBooks will automatically calculate the difference. If everything aligns, congratulations – your account is reconciled! If not, review the discrepancies and make adjustments until the two match. Regular reconciliation helps catch errors, prevent fraud, and ensures your financial records are accurate, giving you peace of mind in managing your business finances.
