Skip to content
QBO Video Courses

Reconciling in QBO


Course
Alicia Katz Pollock
Purchase for $19

Reconciliation is how you confirm that your QuickBooks Online checking accounts, savings account, credit cards, and loan balances are correct. If you don’t reconcile correctly every month, your reports will be wrong!

Course Description 

Even if you use the QuickBooks Online banking feed, it’s not a guarantee that your bank balances are correct. And when you have extra or missing transactions, your Profit & Loss and Balance Sheet are wrong!

Reconciliation is the monthly step to confirm your checkbook balance, credit cards, liabilities, and loans have been entered correctly. The problem is that most businesses reconcile the transactions that ARE on the statement, but ignore the ones that are not. 

That’s not Reconciling, that’s “reconciling,” and the result is that you may be paying your taxes wrong!

In this class, not only will Alicia show you how to reconcile properly, but she’ll show you how to trick out the interface to finish in seconds instead of hours.

Even better, learn how to identify errors in your accounting data by how they appear in your Reconciliation window. Use reconciling as a troubleshooting tool for duplicated entries, misclassified categories, transactions coded to the wrong funding source, and receipt captures that didn’t match the banking feed.

Take this class and save yourself hours of struggle...and make your reports a thing of beauty.

 

Instructional Level

Beginner through Advanced 

Class Length

1 hour

CPE Credits

1 CPE, Certificate of Completion

Delivery Method

Group Internet 

 

Field of Study 

Accounting

Pre-requisites 

  • None.

Who should take this class?

  • Business owners and employees who maintain their company’s financial records
  • Bookkeepers and Accountants who wish to brush up on their skills.

What You’ll Learn 

  • How to connect your bank accounts to your QuickBooks®
  • How to import new transactions as they clear the bank
  • How to import previous transaction history
  • How to classify transactions through the Bank Feed to save time on manual data entry
  • Which transactions you should NOT import automatically
  • Workarounds for bank feed issues
  • Why you should reconcile even if you’re importing
  • How to reconcile your bank account transactions with your monthly bank statement
  • Tips and tricks wile reconciling that will save time and frustration

What should you bring?

  • A pen. No computer is necessary.

 

 

For more information regarding concerns, refunds, and program cancellation policies, visit our Terms and Conditions.

Here is the course outline:

Download the Handout

Download the handout that goes with the course.

pageText Download the handout here

Understanding Reconciliations

Start by learning why Reconciling is essential to every business's monthly workflow.

pageText Intro
pageText What is Reconciling?
pageText How Do Transactions Get Into QBO?

How to Reconcile

The basics of how to do a Reconciliation. It's more than just checking off the transactions that ARE on the statement, you need to managae the transactions NOT on the statement!

pageText How to Reconcile Bank Accounts
pageText Why Do I Have Unmarked Transactions?
pageText How to Fix Duplicated Transactions

What to Do When the Difference Doesn't Equal $0

If the Reconciliation isn't quick and easy, here are the troubleshooting steps to locate and fix your discrepancies.

pageText Steps 1 & 2: Identifying the Problem
pageText Step 3: Marking Existing Transactions
pageText Step 4: Finding Missing Transactions
pageText Step 5: Transactions with the Wrong Dates
pageText Step 6: Fixing Payroll Checks Drawn From the Wrong Account

What to Do When the Beginning Balance is Wrong

If you get an alert that your Starting Balance is off, here's what to look for.

pageText How to Do Your First Reconciliation
pageText Starting Balance Alerts

How to Complete Reconciliations

Finishing your Reconciliation, running reports, undoing past recs, and bonus content about managing corporate credit cards.

pageText Finishing a Reconciliation
pageText Reports and History to Verify Reconciliation
pageText Undoing Previous Reconciliations
pageText How to Reconcile Corporate Credit Cards
pageText Conclusion

Take the Quiz

Take this quiz to demonstrate your mastery of the material. Pass the quiz with an 80% or higher to complete the Course, earn your Certificate, and win points!

quiz Reconciling Quiz

Completion

The following certificates are awarded when the course is completed:

Royalwise Credit Certificate
Back to top