When you are working on your QuickBooks software, there is an option of Reconcile an account in QuickBooks Desktop. The reconciliation of accounts in QuickBooks desktop is very similar to the balancing the amount through checkbooks. This procedure generally ensures that everything is recorded for the QuickBooks software and all the data regarding your finances are completely accurate Reconcile an account in QuickBooks Desktop.
To reconcile the account in QuickBooks, you should follow the steps mentioned below:
Reconcile an account in QuickBooks Desktop
To navigate the Reconcile menu
You will have to go to home screen and then select the Gear menu that is present below the column heading Tools. Then, you will have to press the Reconcile Tab.
Select your account
From the Reconcile window, select the account that you want to reconcile from the menu options that are available. As, you have selected your account, press Reconcile Now option.
Type in the Bank Statement Details
Check for the copy of the bank statement from the accounts that you are reconciling with the QuickBooks application. Note down the Statement End Date and the Ending balance amount in the section required. Go back to the QuickBooks homepage window and check for Reconcile window. There you will have to enter the Statement End Date in the calendar drop-down menu. Now, you will have to enter the Ending Balance for your statement in the Reconciliation window. Press OK.
Matching the Expenses
now, you will have to follow the transaction history from the bank statement. Go to Reconcile window and match the transaction from the bank statement with the items that are mentioned in the list. Click on the checkbox on the reconciliation window, if you click on some other place then it will be hard for you to find your way back to the transaction in Reconciliation window.
Complete your Reconciliation
If your difference value is Zero then press Finish Now option.
Verify the Reconciliation Report
From the Reconciliation window, check the reconciliation that you have entered. Press on the detail window for review purpose. Press Run report to check the detailed report about reconciliation. Press Print option to print your reconciliation report copy and attach it to the bank statement. You can also print additional copies to give it to your accountant or save for record purpose for tax time.
Our Assistance channels
Reconcile an account in QuickBooks Desktop have suggested the steps mentioned in this article for reconciliation of accounts in the QuickBooks Desktop application. If you follow the steps properly, then you will successfully reconcile your account in QuickBooks Desktop. In case, you are unable to do so and you need the help from QuickBooks experts. You can reach out to “bigxperts” for .