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QuickBooks® Training Library: The KnOWLedge Base

Reconciling in QBO


Course
Quantity
For someone else
Alicia Katz Pollock
Quantity
For someone else
Purchase for $37 or enter access code

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 Level

Intermediate

Course Length

1 hour

Course Credits

1 CPE, Certificate of Completion

Field of Study

Computer Software & Applications

Delivery Method

QAS/Self Study

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

Advance Preparation 

None

 

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!

 

Learners rave: Find out why people love this course.

Discover the overwhelming praise as past learners share their experiences with this course. See all the reviews by clicking the 'Reviews' tab near the top of this page.


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.

 

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: November 2023

Course Page Updated: September 2024

Here is the course outline:

Download the Handout

Download the handout that goes with the course.

1 section
Handouts: Reconciling in QBO

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
Intro and Agenda
Understanding Reconciling
How to Get Transactions into QBO
How to Reconcile Bank Accounts
What to do When the Difference Doesn't Equal Zero
Marking Transactions
Missing Transaction
Incorrect Dates
Unmarked Transactions: Find out Why
Fixing Duplicated Transactions
What to Do When the Beginning Balance is Wrong
Starting Balance Alerts
Completing Reconciliations
Reviewing Reports and History
Complicated Situations: Reconciling Liabilities, Reconciling Loans, and Bugs
Review Questions - Reconciling

Bonus Videos

Extra videos with troubleshooting, including Payroll Checks written from the wrong account, and extra steps with Corporate Credit Cards.

2 sections
Fixing Payroll Checks Drawn From the Wrong Account
How to Reconcile Corporate Credit Cards

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!

2 sections
Complete this survey for CPE Credit
Reconciling Quiz

Completion

The following certificates are awarded when the course is completed:

Royalwise CPE Certificate
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