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August 10, 2019
Question

I am in the process of reconciling my account and at the beginning it is asking for balance ending and end date. What is that exactly ?

  • August 10, 2019
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1 reply

August 10, 2019

Welcome to the accounting world, Becky.

 

Balancing your books (QuickBooks account) and actual bank register is called Reconciling. This process requires you to prepare a bank statement which has the information you need such as:

  • Opening Balance
  • Ending Balance
  • Ending Date
  • Transactions associated to the said period

Click here to see the detailed steps in setting up reconciliation and reconciling the account.

 

You can use this reference if you encounter issues while you're on the process: Reconcile Hub.

 

I bet you'll learn anything about accounting in no time. Have a great day!