Quickbooks is a reliable software that offers accounting solutions for business of any size. Many corporate giants use the enterprise version of QuickBooks to manage their systems of accounts efficiently. Quickbooks offer services such as payroll management and invoicing, to mention a few. However, users sometimes face functional issues related to QuickBooks, such as setting up bank reconciliation in QuickBooks, which can quickly be resolved with excellent Quickbooks support and assistance.
Methods for setting up bank reconciliation
- Start with clicking on the menu of company that appears at the upper corner of the home screen. After this, you will require scrolling down and choosing the menu that says for the accountant, then choose the option of reconcile.
- Input the account that requires reconciliation in the box of account. Now input the date of the bank statement from the statement that needs balancing.
- Now type in the balance last digits in the box that appears on the reconciliation screen. Also add the transactions that are not related to the account on the page such as bank service fee, or the amount of interest earned from the bank.
- Click on the tab of continue to match further the business transactions appearing on the window of reconciliation with those that appear on the statement issued by the bank.
- When a match correlates, you can tick the box that appears in the window of reconciliation corresponding with the bank transaction statement.
- Input the transaction that is not appearing on the screen of reconciliation but appears on the bank statement. After this, you will require verifying the value of difference that should be zero at the bottom of the screen of reconciliation.
- If the difference doesn’t appear to be zero, then you will require locating the transactions that are not enlisted in the program of QuickBooks. When you find that the difference has become zero, you can click on the button that says reconcile now.
- After this step, click on the tab of finish when the process of reconciliation is finished.
If you are facing issues related to QuickBooks, then you can contact QuickBooks payroll support for technical assistance.
Robert Williams is a creative person who has been writing blogs and articles about QuickBooks Products and Services. He writes about the latest updates regarding Quickbooks Support and Quickbooks Online login how it can improve the work experience of users. His articles have been published in many popular e-magazines, blogs and websites.