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You're reading from  Mastering QuickBooks 2024 - Fifth Edition

Product typeBook
Published inDec 2023
PublisherPackt
ISBN-139781835469958
Edition5th Edition
Concepts
Business Management
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Author (1)
Crystalynn Shelton
Crystalynn Shelton
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Crystalynn Shelton

Crystalynn Shelton is a licensed CPA and small business advisor specializing in financial accounting software training, coaching, and consulting. She has written two Amazon Bestsellers, Mastering QuickBooks 2020 and Mastering QuickBooks 2021. In addition to having experience as a small business owner, she has more than 20 years' experience in providing accountancy consultancy in the entertainment, oil and gas, education, and computer technology fields. Crystalynn is an Advanced Certified QuickBooks ProAdvisor and has taught accounting, bookkeeping, and QuickBooks courses for the last 12 years at the University of California at Los Angeles Extension. When she is not in the classroom, Crystalynn enjoys trying new restaurants and curling up with a good book!
Read more about Crystalynn Shelton

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Reconciling accounts

Reconciling is the process of making sure your QuickBooks records agree with your bank and credit card statements. At a minimum, reconciling should take place on a monthly basis, if not more often. One of the benefits of using cloud-based accounting software such as QBO is that your banking information is uploaded on a daily basis. This means that you could reconcile as often as weekly, or even daily. There is no need to wait until the bank statement arrives at the end of the month to reconcile your accounts.

Follow these steps to reconcile a bank or credit card account:

  1. From the gear icon, select Reconcile, as indicated in Figure 9.14:

Figure 9.14: Navigating to Reconcile in QBO

  1. The Reconcile window will appear, as indicated in Figure 9.15:
Graphical user interface, text, application Description automatically generated

Figure 9.15: Initial reconciliation window

  1. If a transaction that was previously reconciled has been changed, QuickBooks will include a message on this screen...
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Mastering QuickBooks 2024 - Fifth Edition
Published in: Dec 2023Publisher: PacktISBN-13: 9781835469958
© 2023 Packt Publishing Limited All Rights Reserved

Author (1)

author image
Crystalynn Shelton

Crystalynn Shelton is a licensed CPA and small business advisor specializing in financial accounting software training, coaching, and consulting. She has written two Amazon Bestsellers, Mastering QuickBooks 2020 and Mastering QuickBooks 2021. In addition to having experience as a small business owner, she has more than 20 years' experience in providing accountancy consultancy in the entertainment, oil and gas, education, and computer technology fields. Crystalynn is an Advanced Certified QuickBooks ProAdvisor and has taught accounting, bookkeeping, and QuickBooks courses for the last 12 years at the University of California at Los Angeles Extension. When she is not in the classroom, Crystalynn enjoys trying new restaurants and curling up with a good book!
Read more about Crystalynn Shelton

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