How to reconcile an account in QuickBooks Labs

If you signed up to try a new way to reconcile in QuickBooks Labs, you're in the right place. If you didn't, you can learn about the current QuickBooks reconciliation here.

When you reconcile a bank or credit card account, you compare the monthly bank statement with what you have in QuickBooks. You know your bank and your books agree when the difference between them is $0.00. Learn more about the rewards of reconciliation.

To reconcile a bank or credit card account:

ClosedEnter your statement info and check the beginning balance.
  1. Open the account statement you received from your bank or credit card company.
  2. Click the Gear icon > Reconcile.
  3. Select the account you want to reconcile. Depending on the type of account you select, different statement info fields appear below.
  4. If this account was reconciled before, look below the Ending date field at the last statement ending date.
  5. Make sure you're reconciling the following month's statement.
  6. Check the beginning balance on your statement. Make sure it matches what you have in QuickBooks.
  7. If they don't match, a discrepancy alert usually appears. Click the link in the alert to fix the problem before you reconcile. If there's no alert, try these tips to fix the discrepancy.
  8. Enter the statement ending date and ending balance.
  9. If there are other fields, enter that info. If your statement doesn't have an amount for a field, you can leave it blank.
  10. Click Start reconciling.
ClosedReconcile each transaction in the statement with those in QuickBooks until the difference equals zero.
  1. On the account statement, find the first transaction. Then find the same transaction in the Reconcile window and make sure it's correct.
  2. If it's correct, select its checkmark in the right column. If this is a connected account, some transactions are automatically selected for you.
  3. Repeat steps 1 - 2 for each statement transaction.
  4. After you finish checking each transaction on the statement, look at the difference at the top of the Reconcile window. If it equals zero, hooray! Click Finish now.
  5. If you're having trouble getting the difference to equal zero, see Why doesn't my QuickBooks account match my statement?
ClosedPay a credit card bill.

If you're reconciling a credit card account, decide how you want to pay the bill. You can:

ClosedView and print a reconciliation report.
  1. To view the reconciliation report, find it in the Reports and History tab and click View report.
  2. To print a reconciliation report, select Print from its View report drop-down arrow.