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September 20, 2021
Question

Bank figures in quickbooks and actual figures do not match .is there any way of reconciling accounts.

  • September 20, 2021
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1 reply

September 20, 2021

Hi maags1950-gmail-,

 

 

The bank balance updates the figures real time while the QuickBooks Online balance is based on the transactions added in the system either manually or from the bank feed. The best way to know what transactions are in there is to reconcile. This way, you can match the transactions between the bank and QuickBooks Online and it is best to have a bank statement as a reference when doing a bank reconciliation. 

 

Here's how to reconcile an account in QuickBooks Online: 

 

  1. Go to Gear icon or Accounting and select Reconcile
  2. From the Account ▼ drop-down, select the account you want to reconcile. Make sure it's the same one on your statement.
  3. Review the Beginning balance. Make sure the beginning balance in QuickBooks matches the one on your statement. 
  4. Enter the Ending balance and Ending date on your statement. 
  5. When you're ready to start, select Start reconciling.

For more detailed information, you can also check on this article: Reconcile an account in QuickBooks Online

 

Feel free to drop a comment below if you have any other questions. Have a nice day!