Reconciliation

We need to reconcile your past transactions first to successfully reconcile your recent transactions for the year 2025 in QuickBooks Online (QBO), as this will cause a discrepancy, brutewolf. I'll continue discussing this below.

If you're reconciling an account for the first time, we need to review the opening balance, as it needs to match the balance of your actual bank or credit card account on the day you began tracking transactions in QuickBooks.

Before we begin reconciling your account, ensure you match and categorize all of your downloaded transactions before we continue. Refer to this article for more detailed steps how: Categorize and match online bank transactions in QuickBooks Online.

Once you have your monthly account statement, we can start reconciling. Here's how:

1. Go to Transactions and select Reconcile.
2. If it's your first time, click Get Started.
3. From the Account dropdown, choose the account to reconcile (ensure it matches your statement).
4. If prompted about a past reconciliation error, follow the provided instructions to fix it.
5. Check that the Beginning balance in QuickBooks matches your statement.
6. Enter the Ending balance and Ending date from your statement.
7. If not connected to online banking, add any service charges or interest.
8. Review the Last statement ending date, your current statement starts the next day.
9. Click Start reconciling to begin.
10. Compare each transaction on your statement to those in QuickBooks.
11. Ensure the difference is $0.00, then select Finish now.
    
    

Check out this article for more information about the reconciliation workflow in QBO.

After each reconciliation, QBO automatically creates a report. This report is helpful if you have issues reconciling the following month, refer to this article: How do I view, print, or export a reconciliation report?

Additionally, you can maximize the efficiency of your financial processes by collaborating with our QuickBooks Live Expert Assisted team. They're veterans in the field, known for smoothing out financial operations and offering insights tailored to your business. One-click connects you to a more prosperous financial path.

If you need additional assistance or have any questions about managing your transactions in QBO, feel free to click the reply button. I'm always here to help.

@brutewolf 

To reconcile properly, you need to do it chronologically.  When you reconcile, you need to know the ending balance of the prior period (through 12-31-24) because that serves as the beginning balance for the current period (1-1-25 to 4-30-25) you are reconciling.  Therefore, you need to reconcile through 12-31-24 to establish your 1-1-25 beginning balance.