I know its importance to ensure everything is reconciled, Pallavi1. I've got you covered.
When reconciling, you only need to do it on the parent account since the transactions from the subaccounts roll up into it. For the detailed steps, I'd suggest following the steps below:
- Go to the Gear icon and then select Reconcile.
- From the Account drop-down menu, select the account you want to reconcile.
- Enter the Ending balance and Ending date on your statement.
- If you see it, review the Last statement ending date.
- When you're ready to start, select Start reconciling.
For more details about the process, please see this article: Reconcile an Account in QuickBooks Online.
To zero out the balance, you can debit all the sub-accounts. Then, credit the parent with the total amount (for the sub-accounts).
You can also check out this article to learn how to handle your accounts in QuickBooks: About Bank or Credit Card Subaccount Setup.
Once done reconciling, you can print or export the reconciliation report. This way, you'll have a handy copy of your data.
Please let me know if you have any other issues or concerns about reconciliation, Pallavi1. I want to make sure everything is taken care of for you. Have a great day!
