would like to reconcile our bank statements for the last year. Should I start with month one and work forward or start with the latest bank statement and work backward?

Welcome to the Community, Dennis.

I’m here to address your reconciliation inquiries using QuickBooks Online (QBO). 

 When reconciling in QBO, you have to start with your oldest bank statement and work your way upwards. Know that for the day you decide to start tracking transactions in QuickBooks, it is significant to review your opening balance and match your real life bank account.

Moreover, if you have your monthly bank statements, you can start reconciling by starting with the oldest statement. You can follow the below to reconcile: 

1.  If your accounts are associated with online banking, ensure the downloaded transactions are matched and categorized.
2. Go to the Gear Icon ⚙, then choose Reconcile. 
3. Select the account you want to reconcile in the Account ▼ dropdown. Ensure that it's the same one on your statement.
4. Review the Beginning balance. Verify that the starting balance in QuickBooks matches the starting balance in your statement. If they don't match, here's how to do it.
5. On your statement, type in the Ending balance and Ending date. Some banks call the ending balance a "new balance" or a "closing balance."
6. Check the end date for the last statement. That's the end of your last reconciliation. The following day, your existing bank statement should start.
7. When you’re ready to reconcile, click on select Start Reconciling.

Once finished reconciling, compare your bank statements with QuickBooks. Go over them one-by-one. Confirm the dates and transactions to ensure everything matches.

You can learn more about reconciliation in QBO by reading this article and viewing the visual reference I’ll be providing below:

• Reconcile an account in QuickBooks Online
• How to reconcile accounts in QuickBooks Online

 In addition, you can find out how to correct the initial balance issue for accounts entered into previous reconciliations by clicking this article: Fix issues for accounts reconciled in the past in QuickBooks Online.

Don’t hesitate to ask more questions if you have more QBO reconciling inquiries. Just leave a comment below. I’m just a post away to assist you!

Always start with the 1st month.  If it's December of any year and the reconciliation has not been done all year, always start with the 1st month. So start with January.