An important part of keeping accurate, up-to-date financial records is ensuring that the transactions you record in QuickBooks match the records of your financial institution. Instead of manually "balancing your checkbook" you can use the Reconcile feature of QuickBooks to quickly reconcile your bank, credit card, or loan account. The following steps show how to perform an account reconciliation.This feature works the same in versions 2011–2016 of QuickBooks.
The Reconcile window is used to reconcile the individual transactions from your account statement. In this window, payments and deductions from your account are listed on the left side and deposits and credits to your account are listed on the right side. Transactions in this window are sorted by date in ascending order. Transactions can be sorted by another field by clicking the field column heading. An up arrow indicates the column is sorted in ascending order (smallest to largest). A down arrow indicates the column is sorted in descending order (largest to smallest).
Reconciliation reports can be printed each time you reconcile an account. Reconciliation reports can be saved in PDF format or you can print a hard copy in case any account discrepancies occur during the next reconciliation.
QuickBooks updates your transactions in the Reconcile window as soon as you record or save changes. If you notice an error, you can double-click to zoom in to a transaction or you can record a transaction using the normal methods in QuickBooks.
If you realize that, as part of the reconciliation, you've incorrectly entered the service charge, interest earned, ending balance, or any other information, click the Modify button. QuickBooks redisplays the Begin Reconciliation dialog box. Update the amount and then click Continue to return to the Reconciliation window.
Lee is a writer, editor, and technology evangelist. Lee received her undergraduate degree in Communications from Ithaca College.