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June 26, 2021
Question

Reconcile the VAT control account .Is the end balance the same as the vat return for that quarter as that would also make it the starting figure for next reconcile?

  • June 26, 2021
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1 reply

Adrian_A
June 26, 2021

Yes. You're correct, debbie124.

 

The ending balance of the current reconciliation will be the starting balance of the next one. 

 

When you have your bank statement in hand, you can compare each transaction with the ones entered into QuickBooks to make sure they match your bank and credit card statements.

 

When you're ready to reconcile the account, you can check this guide: Start a reconciliation.

 

Feel free to mention my name if ever you need help in reconciling the account. Keep safe!