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Reconciliation is how you confirm that your QuickBooks Online checking accounts, savings accounts, credit cards, and loan balances are correct. If you don’t reconcile correctly every month, your reports will be wrong!
You’ll Learn About:
- 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
After completing this course, you will be able to:
- Describe how to Reconcile your bank accounts and credit cards accurately
- Explain how to Troubleshoot stray transactions and know how to remove them
- Discuss workarounds for bank feed issues
Instructional LevelIntermediate
Course Length1 hour
Course Credits1 CPE, Certificate of Completion
Field of StudyAccounting/Bookkeeping
Delivery MethodQAS/Self Study
Who should take this class?
Advance PreparationNone
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Preview this course:
Get a sneak peek of what's inside this value-packed training. Watch the brief video below to explore the topics we'll cover and see the quality of content you can expect. Your journey to mastering the material starts here!
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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.
Watch it again later
You'll have lifetime access to the on-demand course including all handouts and class material. You'll also be able to ask questions in the Q&A forum and get answers, even years later. You can pause, rewind, speed up, and watch again and again as you apply what you learn to each situation as it crops up.
Want this course for FREE? Unlock this course & more for no extra cost with an OWLS Membership!
Get instant access to ALL of Alicia's QuickBooks courses for FREE when you become a silver member - it's the perfect way to maximize your learning!
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OWLfred says, "Silver membership pays for itself in just two courses per month!"
Refunds & Cancellations
Please view our Terms of Service, for information on refunds, cancellations, and complaint resolution. To request a refund, please contact us.
Royalwise is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.
Course Credits: 1 CPE, Certificate of Completion. Must be awarded within one year of enrollment.
Course Updated: December 2021
Course Page Updated: November 2023
Here is the course outline:
Download the HandoutDownload the handout that goes with the course. 1 section
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Watch the Videos: Reconciling in QBO (2023)Reconciliation is how you confirm that your QuickBooks Online checking accounts, savings accounts, credit cards, and loan balances are correct. If you don’t reconcile correctly every month, your reports will be wrong! 16 sections
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Bonus VideosExtra videos with troubleshooting, including Payroll Checks written from the wrong account, and extra steps with Corporate Credit Cards. 2 sections
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Take the QuizTake 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! 2 sections
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Completion
The following certificates are awarded when the course is completed:
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Royalwise CPE Certificate |
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