Lighthouse Bookkeeping
Bank and Credit Card Reconciliation in QuickBooks Online
Bring your QuickBooks Online records into agreement with bank and credit card statements so your reports rest on more dependable balances.
Bring your QuickBooks Online records into agreement with bank and credit card statements so your reports rest on more dependable balances.
Reconciliation compares the transactions and balances in your records with an account statement for a defined period. It helps reveal items that are missing, duplicated, or recorded differently.
A feed can bring transaction information into QuickBooks Online. Reconciliation still checks the account against the statement, including the beginning and ending balances and the transactions in the period.
A discrepancy may involve a duplicate entry, an omitted payment, a transfer, an opening balance, or a timing difference. We follow the records and ask questions where the supporting information is incomplete.
We need QuickBooks Online accountant access, complete statements for the accounts and periods, and supporting documents where transactions require explanation.
Reconciliation is the check that your records agree with what your bank and card companies say happened.
Complete bank and credit card statements for each period, plus supporting documents for unclear transactions.
Each statement is compared with the books, and differences are investigated rather than ignored.
Missing entries, duplicates, transactions recorded in the wrong period and timing differences are frequent reasons books and statements do not agree.
Reconciling every month prevents small differences from growing into a large cleanup.
No. Downloaded activity and a completed statement reconciliation are different parts of the process.
Yes, for the credit card accounts and periods included in your plan.
That needs investigation before a new period is completed. We review prior records and scope any required correction.
Common causes include missing, duplicated or misdated entries and timing differences. Reconciliation identifies which one applies.
Monthly is a common practice and is part of monthly bookkeeping.
Cleanup may come first. Historical periods are scoped and quoted separately.
Yes. Our guide to reconciling bank accounts in QuickBooks Online walks through the process and common causes of differences.
Start with a free conversation about your records, reporting needs, and the support that fits.