Most of the small business owners are using QuickBooks accounting software to track and manage their company’s finances. If you found that many people, while using the accounting software to enter transactions, fail to follow through to make sure they are getting everything entered. If at the end of the year you will get a bunch of missing transactions, it is going to be that much harder to track down the reason why you are checking the balance and your QuickBooks balance are worlds apart. For any type of help, you can dial a toll-free QuickBooks support number and get relevant support from the team of expert technicians to resolve the issue.
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Before you will go through the basic troubleshooting steps of how-to reconcile QuickBooks, let’s establish some ground rules before it:
- Always enter your entire bill such as phone, electricity, Internet, car payment, within transactions in the QuickBooks using the Enter Bills/Pay Bills feature.
- Your money received is entered either using the Sales Receipt or Create Invoice/Receive Payments feature in QuickBooks.
- With the help of record, deposits feature undeposited funds are made.
- In the check register feature, purchases are made using your debit card directly or by using the Write Checks or Enter Bills/Pay Bills feature.
For any type of assistance regarding QuickBooks help contact reliable QuickBooks online tech support for reconciling your account in an easy manner.
Read more at Why You Should Use QuickBooks Accounting Software
Apply the below-listed steps it will take only take a few minutes of your time and use QuickBooks for every reconciliation option .
1. Click on Banking > Reconcile
2. Make sure that the beginning balance is the same as the beginning balance on your bank statement.
3. Enter the statement date and ending balance.
4. Check off each of the deposits and credits that appear on your bank statement. If you missed a deposit, go back to home and record the deposit.
5. Check off each of the checks and payments that appear on your bank statement. If you missed entering a purchase, payment, or check, go back to banking and do it now. Alter the amount of any item by double -clicking and editing.
6. The amount in the lower right-hand corner should be zero. Print (to a printer or to adobe pdf) a reconciliation report to be filed.
By applying all these steps, you are taking a proactive approach toward your finances. Now with this feature you will spend less money on your accountant at tax time, you will enjoy a feeling of enhanced control, and you will have an easier time using QuickBooks’ more superior features.
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