QuickBooks – Mid-Month Bank Reconciliations
- March 29, 2017
- Posted by: marlenedubois
- Category: CPR Training
In QuickBooks, sometimes the check register can go awry between the monthly bank reconciliations. Here are simple directions to reconcile the check register, even without the regular monthly bank statement:
1. coming from your web browser, go to your bank’s website as well as print a detailed listing of all banking transactions in which have occurred since the last time you reconciled (presumably since the last statement).
2. Go through This particular printout as well as make sure all transactions in which appear on This particular also appear in QuickBooks. ATM withdrawals, automatic payments, as well as different transactions of This particular type sometimes get overlooked – be sure these are current in QuickBooks.
3. coming from the Banking menu in QuickBooks, select Reconcile. The Begin Reconciliation window opens.
4. Select the correct account, enter today’s date, enter the ending balance coming from the printout, as well as enter any banking fees in which may appear on the printout in which have not already been entered into QuickBooks. Click Continue. The Reconcile window opens.
4. inside same way in which you could balance a regular bank statement, with the printout in hand, go through the Reconcile window as well as place a checkmark next to any item in which appears in both the printout as well as in QuickBooks. which has a pencil, write a checkmark on the printout next to any item in which you also checked in QuickBooks.
5. When you have checked all items coming from the printout, look at the Difference (located inside bottom right corner of the Reconcile window). This particular should be zero. If This particular is usually, then you are finished. Do not click Reconcile right now. Instead, click Unmark All, then click Leave.
6. If the Difference amount is usually not zero, errors were made. Verify in which all entries in QuickBooks match the bank’s entries exactly; verify in which all transactions coming from the bank printout have been entered into QuickBooks; verify in which all entries in which appear on the bank statement as well as also appear in QuickBooks have a checkmark next to them; as well as verify in which in QuickBooks there are no checkmarks on items in which do not also appear on the bank printout.
A Difference amount in which is usually positive means in which a deposit is usually missing in QuickBooks, or in which there are too many withdrawals or checks in QuickBooks. A Difference amount in which is usually negative means in which one or more withdrawals or checks are missing in QuickBooks, or in which there are too many deposits in QuickBooks.
At This particular point, if you still cannot get the Difference amount to be zero, then you may need to call an experienced QuickBooks professional to help. Remember in which accounting problems do not get better as time goes on, they get worse. If you need help, This particular is usually better as well as less expensive to get This particular before the problem gets too big or has gone on for too long.