How to do Bank Reconciliation in QuickBooks

1.  Click Reconcile from the Home Page
2. Choose the bank account you want to reconcile, enter the bank statement date and the ending balance. The opening balance will automatically populate since it is the ending balance last month.
3.  Enter any bank charges or interest earned that are not yet recorded in QB.
4. Click Continue.

1)      Place a tick mark for the transactions that you can see from your bank statement. If you can’t find a withdrawal transaction in the bank statement but recorded in QB, it is an outstanding check. Same thing with deposits, if it’s not in the bank statement, it’s a deposit in transit.

2)      Once the difference at the lower right is 0.00, it means that your reconciliation is correct and you may now click Reconcile now. If not, you can check the Deposits and Other Credits and Checks and Payments at the lower left of the screen and compare it with your bank statement so you can easily find the discrepancy.

3)      If you can’t find the difference, you can click Reconcile Now since QB will create a Reconciliation Discrepancy account.

4)      Print the Reconciliation Reports for your records. QB Pro will only let you access the last reconciliation report while QB Premier will store all your reconciliation reports.