Let me share some information about reconciling your bank transactions in QuickBooks Desktop, mistymossy.
The option to automatically reconcile your imported bank statements in QuickBooks is unavailable. We'll need to manually reconcile the entries once you get your bank statement. If you're reconciling multiple months, start with your oldest bank statement. Reconcile each month separately, one statement at a time. Here's how:
- Go to the Banking menu, then select Reconcile.
- In the Account field, choose the bank or credit card account you want to reconcile.
- The Statement Date is automatically filled in. Usually, it's 30 or 31 days after the statement date of the previous reconciliation. Change it as needed to match your bank statement.
- QuickBooks also automatically enters the Beginning Balance. It uses the ending balance from your last reconciliation to get this number.
- Enter the Ending Balance based on your bank statement.
- Enter the Service Charge and Interest Earned based on your bank statement. Don't enter charges you've already entered in QuickBooks.
- Review the fields. If the info is correct, press Continue or OK.
To learn more about this one, check out this article: Reconcile an account in QuickBooks Desktop. We can also create rules to categorize transactions for things you often spend money on, like supplies or business expenses. Just follow the steps and details in this article: Create rules to categorize transactions in QuickBooks Desktop.
Feel free to visit our Banking page for more insights about managing your bank feeds and reconciling accounts.
I'm looking forward to hearing from you. Let me know if you have any clarifications. I'm here to help enlighten them for you. Have a good one.
