What we do at this point is check our Bank Statement to what we have entered in our QuickBooks, to ensure that everything matches, as QuickBooks is intended to mirror real life. Once you’ve entered the ending balance from your statement, you want to click continue, this will take us to our next step, the reconciliation itself.Īs you can see here, we have two columns, on the left is our “checks and payments (AP),” and on the right, we have our “Deposits and Other Credits (AR).” Ending balance is where we input the ending balance from our statement.ĭown below is where you would input any service charges or interest earned, the dates associated with them, as well as the accounts they hit, class being optional if you’re a company who tracks classes. Our beginning balance should always match our ending balance of our last statement. Our statement is next, you can find this on, you guessed it, your statement. Now, once the “Begin Reconciliation” window is open, we’re going to have some fields that need to be filled out:Īs you can see the first dropdown we have here is Account, this is the account in question we are going to be reconciling. The other way is to go to the banking menu at the top of the screen and choose reconcile. Once we are on the home screen (the default landing page when you launch the software), we want to go to the reconcile menu, this can be accessed from the home screen underneath the “Banking” header. IMPORTANT Before making any changes to your QuickBooks Company File, we always recommend making a backup.
#Fishbowl inventory reconcile how to
Using QuickBooks Online? Check out Intuit’s blog here to learn how to reconcile accounts in QuickBooks Online.
If you would like us to create a video demonstrating how this is done, please leave a comment below, or contact us for a one-on-one consultation. First, we want to ensure we have our copy of QuickBooks open. In today’s QuickBooks tutorial we will walk you through the steps to reconcile an account in QuickBooks Desktop.