Let me elaborate or clarify some things to familiarize you with how your bank imports bank transactions, Isrira.
When connecting to online banking, you'll have to know how your bank sends the downloaded transactions. If the transactions download to one account, connect only the parent account. If the transactions download to the individual accounts, connect the subaccounts and not the parent account.
Since transactions are downloading to both of your accounts, you can disconnect the Parent account and connect the Child account. To disconnect the parent account, follow the steps outlined below:
- Go to Transactions, then Bank transactions).
- Select the tile for the bank account.
- Tap the pencil icon, then select Edit account info.
- Select the Disconnect this account on save checkbox. If QuickBooks is downloading new transactions, you won't see this option. Wait a few minutes for the update to finish and try again.
- Click Save and close.
Once done, you can now start
reconciling your account. You can do one statement at a time, starting with your oldest one. Here's how:
- Make sure you match and categorize all of your downloaded transactions.
- Go to the Gear icon and then Reconcile. If you're reconciling for the very first time, select Get started.
- From the Account dropdown, select the account you want to reconcile. Make sure it's the same one on your statement.
- Review the Beginning balance. Make sure the beginning balance in QuickBooks matches the one on your statement. Here's what to do if they don't match.
- Enter the Ending balance and Ending date on your statement. Some banks call the ending balance a "new balance" or a "closing balance."
- If you see it, review the Last statement ending date. This is the end date of your last reconciliation. Your current bank statement should start the day after.
- When you're ready to start, select Start reconciling.
Furthermore, QuickBooks Online (QBO) offers a
variety of reports that cater to your business needs. You'll only have to customize them to ensure you'll get the right data you need. For further details, check out this article for reference:
Customize Reports in QuickBooks Online.
Comment below if you have any questions when reconciling your accounts. We're always one post away if you need further assistance. Have a nice day
