Wednesday Work Wisdom: Reconcile Accounts Monthly
Skipping account reconciliations? That’s how errors and surprises sneak in! Reconcile monthly for peace of mind. Reconciling your accounts might sound tedious, but it’s one of the best ways to catch errors, fraudulent charges, or forgotten transactions before they become major problems. By reconciling monthly in QuickBooks, you can ensure that your books match your bank and credit card statements perfectly.
How to Reconcile Accounts in QuickBooks:
- Navigate to Accounting > Reconcile in the left-hand menu.
- Select the account you want to reconcile.
- Enter the ending balance and date from your bank statement.
- Match transactions in QuickBooks with those on your statement.
- Adjust any discrepancies, then click Finish Now.
Regular reconciliations keep your records accurate and reduce stress during tax time. Need help getting started? A Chandler CPA, like AZ Easy CPA, can make the process painless.
Need help with your business finances? Contact Us! We offer monthly accounting and bookkeeping services, clean-up projects for past years, QuickBooks training, and phone consultations to help you stay on track.
