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dmufeed21125
November 30, 2022
Question

reconcilliation

  • November 30, 2022
  • 2 replies
  • 0 views

Hi my beginning balance equalled my statement. I have several points to ask about.

my bank statement have three parts deposits, check payments and withdrawals. I entered all of them manually into quickbook. should i enter them all or i dont need the withdrawals just check payments and deposits 

 

now when I reconcile shouldn’t I match all the transactions that matches my bank statement or should i match only payments and dont match the deposits.

 

also when i run a report discrepancy it doesnt show any errors even though the difference is not zero.

2 replies

Daniela_A
Daniela_A
November 30, 2022

Allow me to share some insights about reconciliation, @dmufeed21125.

 

We should enter all the transactions from the bank statement to match the records. And yes, we need to equally put them in QuickBooks or otherwise, it will create a discrepancy. Additionally, you don't have to worry about the report discrepancy since you already entered all the necessary statements to match it. 

 

I will be adding this article that can help you troubleshoot reconciliation issues: 

 

 

I will be right here if you need further assistance with reconciliation process. stay safe!

E
Edd5
December 8, 2023

Hello 

Im trying to reconcile my bank with QB, but im having some issues with that.

I did record all the deposits during the month of Nov 2023, when i look at the reconcilliation function, i dont see those deposits in QB but i see them in the bank statement.

 

im using QB desktop

 

I dont know whats the issue,

 

Edd

J
JanbonN
December 8, 2023

Welcome to the Community, @Edd5. I'm here to share some info on how you can see your deposits from November.

 

Toguarantee that the deposits you recorded show on the reconcile page, please make sure that you have recorded them in the correct account and inputted the correct dates. You can check this information in the Chart of Accounts. Here's how:

 

  1. At the top menu bar, click on List, then choose Chart of Accounts. You can also use the keyboard shortcut Ctrl+A.
  2. Double-click on the account where you recorded the deposits from November to see the list of transactions in it.
  3. Compare the transactions from your bank statements and your recorded transactions to see if they are the same.

 

If everything is correct, you can proceed with reconciling the account. Ensure that the statement date is correct and the Hide transactions after the statement's end date box are unchecked to make all the transactions appear.

 

For a more detailed overview of reconciliation, please refer to this article: Reconcile an account in QuickBooks Desktop. Once you have reconciled your account, you can run a report to review your past reconciliations.

 

If you have any additional concerns or questions about reconciliation, please don't hesitate to leave a reply on this thread. The Community is always here to help. Have a great day!

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