IN Bank reconciliation we match our quick book balance with the statement we received.
1. Click on the "Company" menu at the top of your home screen.
2. Scroll down and select the "For Your Accountant" menu. Select the "Recentsile" option
3. Enter the account that you want to adjust to the "Account" box.
4. Enter the date of the bank statement from the account details that you want to save.
5. Look at the initial balance shown on your physical bank statement and the initial balance shown on the initial balance box on your Quick Bucks Mercillation screen. If two balance does not match, click the "Locate Conflicts" button on the reconciliation page. This feature lets you search for different reports in QuickBooks to determine why the balance of your statement is not matched. Your balance should be a perfect match to match.
6. Enter the ending balance shown on your physical account statement in the "Ending Balance" box in the reconciliation screen.
7. Add non-account transactions on the reconciliation page. Examples of non-account transactions include the service fee charged by the bank, or interest, which you earn from the bank with the money held in your account. Enter service charges as an expense and interest that you earn as income. Select the revenue or expense account to keep track of these types of activities
8. Click on the "Continue" button to proceed with reconciliation.
9. Matching transactions that appear in the reconciliation window with the transactions that appear on your bank statement. When you find a match, check the box again in the reconciliation window that matches your bank statement transaction. It tells QuickBooks that the item has cleared your account.
10. Enter any transaction on your bank statement, but do not show up in the empowerment screen.
11. Verify the "difference" value at the bottom of your reconciliation screen is zero. If the difference is not zero, then you should not list additional transactions in QuickBooks. When the difference is zero, click on "Recency Now".
12. When the reconciliation process is complete, click the "Finish" button. If you have to stop the reconciliation for any reason, then select the "Skip" button to stop and reconcile. When you select this you can return and complete the process.