Lesson 6: Bank and Credit Card Reconciliation

Reconciliation is the process of matching transactions you entered in QuickBooks with your bank or credit card company’s records. It is highly recommended that you reconcile your bank and credit card accounts in QuickBooks on a regular basis to ensure accuracy of your accounting records. More specifically, reconciliation helps ensure that:

  • All your transactions such as payments, deposits, and bank fees are accounted for in QuickBooks.
  • All transactions in your QuickBooks bank register, as well as its ending balance, match what you have in your actual bank account.

Before you start reconciling the account, make sure you have:

  • Backed up your QuickBooks company file.
  • Set up the bank or credit card account in QuickBooks with the correct beginning balance.
  • Entered all uncleared transactions for the statement period.
  • Received a copy of your bank or credit card statement.

Lesson 8 -Printing Financial Reports

QuickBooks provides different reports that cater to your business needs. A report is a set of instructions that the program uses to display data from your company file. All available reports can be accessed through the QuickBooks Reports menu.

  • Printing financial reports
  • Profit and Loss
  • Balance Sheet
  • Accounts receivable
  • Accounts payable
  • Payroll summary and more..

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