QuickBooks Bank Reconciliation Step-by-Step
Reconciling your bank accounts in QuickBooks keeps your financial records accurate and your reports reliable.
Whether you use QuickBooks Online or Desktop, the goal is simple: match every transaction in QuickBooks to your bank statement.
Here’s a step-by-step guide to completing a clean, accurate QuickBooks bank reconciliation-and how to fix common issues along the way.
Our QuickBooks Reconciliation Services fix out-of-balance accounts and deliver CPA-reviewed accuracy.
Step 1 – Prepare Your Documents
Start with the basics:
- Download your latest bank or credit card statement.
- Note the statement’s ending balance and ending date.
- Ensure all transactions for that period are entered in QuickBooks.
Having these ready saves time when comparing data later.
Step 2 – Open the Reconciliation Tool
In QuickBooks Online:
- Go to Settings → Reconcile.
- Choose the correct account (bank or credit card).
- Enter the statement ending balance and date.
In QuickBooks Desktop:
- Select Banking → Reconcile.
- Choose your account and input the same information.
This sets your baseline for the reconciliation session.
Step 3 – Match Transactions One by One
Compare each transaction in QuickBooks against your statement:
- Check off deposits and withdrawals that appear on both.
- Verify amounts and dates match exactly.
- Exclude duplicates or unrecorded items.
The difference at the bottom of your screen should shrink to zero as you match transactions.
Learn why reconciliation is key in QuickBooks in our QuickBooks reconciliation guide.
Step 4 – Add Missing Transactions
If something appears on your bank statement but not in QuickBooks:
- Click Add Transaction and categorize it appropriately.
- For missing fees or interest, record them under Bank Charges or Interest Income.
- Save, then refresh the reconciliation window.
Never skip missing entries-every cent counts.
Step 5 – Review Outstanding Items
If a check or deposit hasn’t cleared yet, leave it unchecked.
These outstanding transactions will carry forward to next month’s reconciliation automatically.
Review them regularly to ensure they eventually clear.
Step 6 – Confirm the Difference Equals Zero
When your QuickBooks balance and bank statement match perfectly, the difference at the bottom will show “$0.00.”
Click Finish Now or Done to complete the reconciliation.
Save the reconciliation report-it serves as your audit trail.
Check out our QuickBooks cleanup vs. reconciliation guide to learn the difference and know what your business really needs.
Step 7 – Generate and Review Reports
After reconciling, always review your reports:
- Reconciliation Report: Confirms matched transactions.
- Balance Sheet: Verifies account balances are correct.
- Profit & Loss: Ensures income and expenses reflect real activity.
If anything looks off, review the previous steps before closing the period.
Step 8 – CPA Review for Accuracy
Even perfect reconciliations benefit from CPA oversight.
A CPA verifies that adjustments are coded properly, balances align across statements, and no compliance issues exist.
This final step turns bookkeeping accuracy into audit-ready confidence.
How RemoteBooksOnline Simplifies the Process
- QuickBooks-certified bookkeepers perform daily imports and monthly reconciliations.
- CPAs review and sign off on every balance.
- Variance reports explain any adjustments.
- Flat-rate pricing and nationwide support make it easy to stay consistent.
You’ll never struggle with QuickBooks reconciliation again.
FAQs
How often should I reconcile QuickBooks?
Monthly-ideally after each statement closes to keep balances current.
What if the difference doesn’t reach zero?
Check for duplicates, missing transactions, or incorrect starting balances.
Should I reconcile credit cards too?
Yes-credit, loan, and PayPal accounts all need reconciliation for accuracy.
What happens if I skip reconciliation for a few months?
Errors compound and take longer to fix. Consistency prevents bigger cleanup costs later.
Still seeing mismatched balances in QuickBooks?
Get professional help with RemoteBooksOnline’s QuickBooks Reconciliation Services – fast, accurate, and CPA-reviewed.
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All reconciliations are CPA-reviewed for compliance and audit readiness.
