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gnhniagara
February 6, 2022
Question

Month End Balancing

  • February 6, 2022
  • 1 reply
  • 0 views

Good Afternoon,

I am working with Quickbooks Online and am pretty new to it.

With my business I always make a cash deposit at the bank on the last day of the month.  

My cash sales for that last day of the month do not get deposited until the following month since I close off my sales later in the day after I have made the deposit at the bank.

with this amount not being deposited until the following month?

 

Also does anyone know the best way to reconcile payments received from Amazon and Stripe.

 

Thanks for your time

Lori

1 reply

T
Trish_T
February 9, 2022

Hi gnhniagara,

 

Welcome to Community!  Your banking is a vital part of your business and it's essential that you're able to reconcile with confidence.  QuickBooks Online has everything you need to meet your daily bookkeeping goals.  I'll be happy to provide more information so you're on the right track with your work!

 

To ensure your accounts are balanced at the end of the month, you'll reconcile your account based on your monthly statement.  With regards to payments received through Amazon and Stripe, you can manage the deposits and include any applicable fees.  This allows you to match the transactions effortlessly and proceed with reconciling the accounts.  Before you can add a processing fee, you'll need to have a bank charges account. Here's a helpful article with everything you need to record and include fees to your deposits.

 

If you require additional assistance, feel free to contact us.  It would be a pleasure to work with you in real time and ensure you're you're on the road to success!

 

Schedule a Callback or start a Chat: click (?) Help in the upper right in QuickBooks Online > enter "Contact support" > hit Contact Us > provide a brief summary of your situation > hit Let's Talk > choose Get a callback or Start a Chat.
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Please don't hesitate to reach back out with any other questions.  We'd be glad to assist!

 

 

 

 

 

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