Reconcile an Account in QuickBooks Online: Instructions

1. To reconcile an account in QuickBooks Online, click the Gear icon and choose the “Reconcile” link.
2. Choose the account to reconcile from the “Account” dropdown list.
3. Click the “Reconcile Now” button to open the “Start Reconciling” popup window.
4. The “Account” dropdown list allows you to change the account you selected, if needed.
5. In the “Statement Ending Date” calendar field, click the arrow and choose the ending date shown within your bank statement from the calendar.
6. The “Beginning Balance” area shows the account balance either from the beginning balance you entered when creating the account, or the ending balance from the previous statement. “0.00” will be displayed if you did not enter a beginning balance or you have not reconciled the account before.
7. Enter the “Ending Balance” from your bank statement in the labeled field.
8. Choose an income “Account” used to track interest income.
9. Click “OK” to continue the reconcile process.
10. To “Hide transactions after the statement’s end date,” check the checkbox at the right side of the page.
11. Match your “Checks and Payments” from your statement to the items in the list on the left side of the page. Check the checkbox of each item that matches.
12. Match you “Deposits and Other Credits” from your statement to the items in the list on the right side of the page. Check the checkbox of each item that matches.
13. To adjust any of the information entered in the “Start Reconciling” popup window, click the “Edit Information from Statement” link at the bottom of the page, if needed.
14. The list at the bottom of the page that starts with “Beginning Balance” will contain all the items you checked from each list and the total amounts.
15. These numbers should match the numbers on your statement.
16. The “Statement Ending Balance” and the “Cleared Balance” totals should match.
17. The “Difference” total should be “0.00.” This means the account has been reconciled correctly.
18. To complete the reconcile process, click the “Finish Now” button.
19. To save your work and finish it later, click the “Finish Later” button.
20. To cancel any work you have done and close the page, click the “Cancel” button.
21. After you reconcile an account in QuickBooks Online, it appears in the “Reconciliation History & Reports” list on the “Reconcile” page.