QuickBooks Online Tutorial - How to Reconcile Your Bank Account

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This is a crucial step in making sure your books are right each month because it ensures that what you have recorded in QuickBooks Online matches what the bank shows.

Many common recording errors are caught in this process, so be sure to not only do it each month, but do it the right way. This video will show you how.

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My QB desktop was transferred to QB Online a couple days ago when I bought Online. Today I went to reconcile and it's been just sitting there with a circle spinning in the middle for the entire afternoon. I figured it must be trying to get my checkbook stuff over there? We have been in business since the 90's but still, hours? Do you think that's what it's doing?

zacharysnan
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Hi there. I have the old version Desk Top Pro. I am just learning to reconcile now 3 years into our business. I am going back to our first year. If you maintain a certain balance in the business account they waive the $35 bank change each month. On the statement it shows it as being charged & then again as being refunded back to your account. How do I show this in Quickbooks so my withdrawals & deposits match up? Thanks so much.

heather
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This is a v good I am going to keep watching your videos

ubaidurmahmood
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Thanks so much Matt. I'm new to Quickbooks and I've made a mistake or two already. I had created a number of invoices for projects that had already been completed during and paid for in full. These payment were made during 2019, but prior to purchasing QB.
Here is what I did: I would create the invoice and then select "Received Payment" to balance down to $0 on the invoice. Unfortunately, this resulted in a huge discrepancy between my Bank Account and the QuickBooks Account (about $45, 000). I then voided each of these invoices hoping it would adjust the QB Account amount, but it didn't.
Anything you can do to help!?

erikh
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Hello i am new to qb- i found 1 expense transaction on my bank account that didn't show up on my quickbooks payments in reconciling. what do i do about this? also, i found 1 payment on my qb that showed up twice. What do i do about this, and why would this have happened? Shouldn't I expect it to pull the data in my bank transactions accurately? Thanks for your assistance!

jenreynol
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Thanks for watching! Please leave a comment or like the video!

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