To reconcile your bank or credit card account, follow these steps:
Step 1, Go to the Reconcile Menu
From the home screen, click on the Gear Menu and beneath the column heading “Tools,” select the Reconcile tab.
Step 2, Choose the Account you want to reconcile
On the Reconcile overlay, choose the account you want to reconcile from the drop-down menu options.
Once you’ve selected your account, click Reconcile Now.
Step 3, Enter Information from bank Statement
Now take a look at a copy of the bank statement for the account you’re reconciling with QuickBooks. Take note of the Statement End Date and the Ending Balance amount.
Back in QuickBooks, you’ll see the Reconcile overlay. Enter your Statement End Date into the calendar drop-down menu.
Step 4, Mark Matching Expenses and Deposits
Now the real work begins. Take another look at the transaction history on your bank statement.
In the Reconcile window, match each transaction from your bank statement with an item in the list, checking the box to the right of each transaction to match.
Important safety tip: only click on the little checkbox. If you click any place else, other windows will open and it can be hard to find your way back to the Reconcile window.
Step 5, Finish Reconciliation
When you’ve gotten the Difference value at the bottom to zero, click Finish Now.
Last Step 6, Review the Reconciliation Report
Now, back in the main Reconcile menu, you’ll see the reconciliation you just entered. Click on it to open a detail window for review.
Click Run Report to open a detailed report of your reconciliation.
You can Print your reconciliation report here in the report window. Print a copy and attach it to your bank statement. Bear in mind you can print additional copies if you want to give one to your accountant, or if you want to save a copy for your records to have at tax time.
And that’s it. You’re done!