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November 1, 2019
Question

How do i find out my balance in the bank at august 31 2019 and if it balances with bank statement

  • November 1, 2019
  • 1 reply
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1 reply

AddieC
November 1, 2019

Hi there, 

 

Ensuring the bank balance in QuickBooks Online is matching with your real-life bank account is an important step in staying organized and updated on your records. 

Comparing the two balances is done through the Reconciliation process. When you reconcile an account, you compare the beginning balance and transactions listed in your QuickBooks Online company file with your monthly bank or credit card statements to make sure they match. You know your bank and your books agree when the difference between them is $0.00.

 

Begin with the oldest bank statement, and reconcile month-by-month up to the most recent statement. The further back you start, the more likely you are to uncover errors and discrepancies. On average, manual reconciliations can take up to an hour. If you connect your bank to QuickBooks Online, it usually takes less than 10 minutes.

 

Take a look at this helpful article for steps on how to reconcile your bank account in QuickBooks Online: Reconcile accounts. You can also review this article for more information: What is reconciling?

 

I hope this helps get you back on track. If you have any other questions, let me know. I'm happy to help.

 

Have a great day!