QuickBooks Online 2024: How to Reconcile your Bank

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To setup a 30-day free trial of QuickBooks Online and then 30% off for 12 months: www.quickbooksoffer.com/?cid=i...
E-mail Hector your questions hector@garciacpa.com
You can take my full 4-hour course in LinkedIn Learning with a 30-day free trial:
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Other Videos:
-Getting Started Tutorial: • How to use QuickBooks ...
-Setup & Run Payroll: • QuickBooks Online 2024...
-Navigation & Customization: • QuickBooks Online 2024...
-Customize your Invoice/Estimate Templates: • QuickBooks Online 2024...
-Connect your Banks / Download Transactions: • QuickBooks Online 2024...
-How to Categorize Expenses: • QuickBooks Online 2024...
-Reporting Basics: • QuickBooks Online 2024...
-Desktop to Online Conversion: • QuickBooks Desktop to ...
-Setup 1099 Contractors: • QuickBooks Online 2024...
-Standard Chart of Accounts: • QuickBooks Online 2023...
-Categorizing Dowloaded Transactions: • QuickBooks Online Tuto...
Bank Feeds & Bank Rules (Full Tutorial): • QuickBooks Online 2024...
-Bank Reconciliations: • QuickBooks Online: How...
-Entering Transactions paid in CASH: • QuickBooks Online: Ent...
-Doing 1099 Forms: • QuickBooks Online 2024...
-Setting Up Payroll: • QuickBooks Online PAYR...
-Setup, Forms, and Pay Sales tax: • QuickBooks Online: Sal...
Official QuickBooks Online 2024 Tutorials Playlist:
hectorgarcia.com/qbo2024
Table of Contents:
00:00 Intro
00:13 Enter Reconciliation Balances
01:36 Mark Transactions Cleared
04:45 Complete Reconciliation & Reports

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27 июл 2024

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Комментарии : 69

@elymX 5 месяцев назад

I wish all tutorials are like this, short, clear and concise. Thank you!

@HectorGarciaCPA 5 месяцев назад

I wish that too… problem is, not all topics are straight forward

@Susan-788 5 месяцев назад

Your videos are awesome! Very concise, yet informative.

@HectorGarciaCPA 5 месяцев назад

Glad you like them!

@vittlesnskittles 2 месяца назад

thank you. i just began a new job after graduating and i will be doing this soon and want to be one step ahead when the time comes. i really appreciate how you explained it so well!

@HectorGarciaCPA 2 месяца назад

Best of luck!

@CatherineBondsPabon Месяц назад

Hector, you can double click on the statement to select the amount (on the vast majority) and it will autoselect without having the hassle of selecting by dragging across the numbers. You know how we love to save time and hassle! And if you "load" your cursor with the highlight first, when you double click to select, it will automatically highlight it. This works on true .pdfs. The ones that are more like a picture than having been read with OCR, don't work the same at all. Thank you for producing great content! I'm training a team member and I came searching for good solid training to get her started. Thanks!

@HectorGarciaCPA Месяц назад

Great

@Accounting101Explained-kp7rl Месяц назад

Very helpful video for a bookkeeper. Thanks

@HectorGarciaCPA Месяц назад

You're welcome!

@LuzAvendano-tj2gk 12 дней назад

I love how you even use that background music 🎉👍

@HectorGarciaCPA 11 дней назад

@margaretngure5642 4 месяца назад

I'm reconciliation wise a/c and it's giving me a headache. All the other recon have been very smooth. I want to look at it tomorrow morning again with a clear mind. I came here to watch your videos for insight 🙏🏻

@HectorGarciaCPA 4 месяца назад

Sometimes you need that

@mukhtarselef2616 5 месяцев назад

Thank you Hector, you continue to help us. Thank you very much. I got a lot of information about Quickbooks from you, and I am ready to buy if there is meterials of yours you are selling.

@HectorGarciaCPA 5 месяцев назад

I dont sell any :(

@mukhtarselef2616 5 месяцев назад

@@HectorGarciaCPA That is great! Thank you

@oghsia День назад

How do you fix it when it says "Account Changed" for the Change Type in the Reconciliation Discrepancy report for an Invoice or Sales Receipt? From what I can see in the audit history, it is the income account that was added or changed on the product/service as an "indirect edit by system." The invoices are showing paid in full.

@AllSports-ye4fl 3 месяца назад

Thanks

@HectorGarciaCPA 3 месяца назад

;)

@UmaShankar-gi3us 4 месяца назад

Hi. Wonderful video. Quick question: im looking at number of manual recons metric and wonder what counts to be one manual recon. Is it the no. of accounts reconciled manually?

@HectorGarciaCPA 4 месяца назад

Manually reconciled transactions is when a user clicks on the R for the transaction maually.

@geniejansen3083 2 месяца назад

Thank you for this video. Have you tried to reconcile Quickbooks with Antera ERP Software?

@HectorGarciaCPA 2 месяца назад

I have not

@heradio1000 4 месяца назад

Hello Hector. Thank you for all your videos. What do I do If the beginning balance in Quickbooks does not match my bank statement?

@HectorGarciaCPA 4 месяца назад

you need to undo all the reconciliations until the balance matches.

@heradio1000 4 месяца назад

thank you@@HectorGarciaCPA

@elainevincent3010 4 месяца назад

I have a business checking account as well as a client trust account. Do I need 2 separate QB online subscriptions? I don't want to 2 to merge. I also want to link our credit card but the problem is a portion of it gets paid form the business account and the other portion is paid from the client trust. Will that work or should I continue to manually enter the transactions?

@HectorGarciaCPA 4 месяца назад

If they are two separate balance sheets, then it needs to be two subscriptions

@StayInformedWithTMS 6 месяцев назад

I do not want to link my bank or credit card to my quickbooks. I would rather manually enter all of my transactions. How do you advise I set-up the account and split payments for expenses and also recognize inflow into the credit card on quickbooks

@HectorGarciaCPA 6 месяцев назад

Enter the transactions through the register

@shivaraj108 Месяц назад

Are we supposed to review /categorize under the Bank Transactions section first before going to the reconcile section?

@HectorGarciaCPA Месяц назад

Correct, the transactions need to be entered

@rosejimenez5493 6 месяцев назад

What will I do if there was a balance in Payment when I have not started the reconciliation? I also tried to untick all the reconciliation but still there is already an amount in Payments.. after reconciliation, the diff is the amount prior to reconciliation. What could be cause in that case? Thanks!

@HectorGarciaCPA 6 месяцев назад

If you prior beginning balances are off.. you might need an accountant to help you fix it

@wzimmerman06 3 месяца назад

We went from qb to qbo and our bank balances are way out of wack. how to we start fresh in 2024 to start reconciling? Thank you for your videos I have watched them over and over to learn how to transition!

@HectorGarciaCPA 3 месяца назад

Cleaning post conversion is always a different case, very hard to give you specific instructions on this, you might need a PRO to get you kickstarted.

@fordoriarte3488 5 месяцев назад

Hello! About check 1150, is it okay to adjust the date to 01/01/24? it is cleared on January 2024, so this check will not reflect in balance sheet 2022. Thanks in advance. Highly appreciate. From your follower from the Philippines.

@HectorGarciaCPA 5 месяцев назад

Correct

@raquelmorales9578 Месяц назад

Hector how do I lock my checking and credit cards after I have reconciled them? so I don't make changes Thanks!

@HectorGarciaCPA Месяц назад

Cant do that specifically. But you can close the books

@Mstroup93 13 дней назад

Hey Hector I had a question. Is it common for CPAs to not understand why there would be a difference between the bank statement ending balance and the ending balance in the QuickBooks ledger? I am currently dealing with a 92 year old CPA who doesn't understand why the ending balance for the bank accounts on the balance sheet do not match the ending balance on the bank statements. I explained how the QBD ending balance reflects the transactions that have not yet occurred like uncleared checks during that time period.

@HectorGarciaCPA 13 дней назад

Once you reconcile and delete all the unclear transactions, it will match, But you shouldn’t delete the transactions. Alternative, you can print the uncleared transactions to explain the difference and/or move them to next month’s date

@Mstroup93 13 дней назад

@@HectorGarciaCPA I had a feeling that changing the dates would solve the issue. Thanks hector!

@samiuddin3494 27 дней назад

I am doing reconciliation for Feb 24l, and bank statement shows transaction on 0210,689.94 for payroll tax payment, via ADP which is set up in QB to run automatically. But on reconciliation page that same transaction is showing on 03/04. I guess payment was withdrawn from bank on 02/29 but paid on 03/024 in QB. How can I fix this the QBO reconciliation shows a difference. Thank you,

@HectorGarciaCPA 26 дней назад

If it has already been reconciled, you can delete the duplicate

@JenniferSnell_ 4 месяца назад

Do we need to reconcile Venmo and Paypal accounts too?

@HectorGarciaCPA 4 месяца назад

I would… specially Paypal which has a running balance that is not zero

@JenniferSnell_ 4 месяца назад

Thank you 😊

@SamCapra-l6h 22 дня назад

I am new to QB so please bear with me. My understanding is that if an A/P check is generated and dated in January the cash account in QB will be credited in January. If the check doesn't clear the bank in general why would the o/s check amount show up on the bank reconciliation line item "uncleared transaction as of Jan.31, 2024" as a negative amount. Since cash was credited in QB but didn't clear the bank why wouldn't the uncleared amount appear as a positive on the register?

@HectorGarciaCPA 22 дня назад

Its supposed to be there and reduce the bank a balance…. Its designed like that

@SamCapra-l6h 21 день назад

@@HectorGarciaCPA Thanks much Hector. In another of your videos the reconciliation showed a dollar amount for uncleared transactions as of 02/28/2024. In the video you said the two outstanding checks were written in Feb but didn't clear until March. Having said that I was wondering why for line item uncleared transactions after 02/28/2024 it showed -0-. If the two checks cleared after 02/28/2024 I would have thought the dollar amount of the two checks that cleared in March would have shown up here.

@user-zc3uw1sb3u 2 месяца назад

How can I upload the bank statement for reconciling transactions?

@HectorGarciaCPA 2 месяца назад

You can upload a CSV file. But not a “statement”

@SurahThree 6 месяцев назад

I made a mistake on quickbooks, somehow a few 2020 transactions were added to my 2023 reconcile and has been submitted, how do i undo this once already reconcile?

@HectorGarciaCPA 6 месяцев назад

You can delete them

@SurahThree 6 месяцев назад

ty i appreciate all your videos! been watching since 2021!@@HectorGarciaCPA