Step by Step Guide to Using QuickBooks


How to Reconcile Bank and Credit Card Accounts in QuickBooks Online

  • Go to the Gear Icon at top right of screen (your company name), and click Reconcile under Tools.
  • Select the account you are reconciling from the dropdown at Account and click Reconcile Now.
  • Input the ending date of the statement you are reconciling, as well as the ending balance on the statement, and click Ok. (Your beginning balance should match the beginning balance on the bank or credit card statement.)
  • Check off the checks and payments in the Checks and Payments left side of screen, with their matching checks and payments on the statement. (You could also check the box at Hide transactions after the statement's end date, and check the top box on both the left and right sides in order to checkmark all transactions at once.)
  • Check off the deposits and other credits in the Deposits and Other Credits right side of screen, with their matching deposits and other credits on the statement.
  • When you are through, the Difference at bottom of screen should show zero ($0.00). If it is, click Finish Now. If it's not, you need to locate the discrepancy and remedy it. You can click the Finish Later at any time and get back to it whenever you are ready. Just follow step 1 and click Resume Reconciling when you are ready to continue.

NOTE: Follow the same procedure to reconcile your credit card account(s).



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