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ben72
February 28, 2022
Question

Bank reconciliation

  • February 28, 2022
  • 1 reply
  • 0 views

Hello, I have a company completing my bank reconciliation including entering purchase invoices. What is the best way to ascertain what proportion of the banking history has not yet been reconciled and how often it is being kept up to date. 

1 reply

JessT
JessT
March 1, 2022

Hi Ben!

 

It's good to see you in the Community! I'll guide you with recording your transactions.

 

You'll want to enter your purchases, like your bills and their payments, expenses, checks, etc. The same thing goes for customer transactions. Those payments will post into your bank register, which you can reconcile afterward. Here's an article to guide you through the process: Reconcile an account in QuickBooks Online.

 

Let’s say, you started tracking and reconciling transactions in February 2022, but you want to add and reconcile January transactions. Therefore, add the January transactions, and delete the opening balance transaction you used in the February reconciliation since that will be replaced by the last running balance in January. Let me know if you want clarifications on this part.

 

I'm just right here if you need more help.

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