What is Reconciliation in QuickBooks?
Reconciliation in QuickBooks is matching the transaction in Quickbooks and bank statement so that the difference is zero.
Steps to do reconciliation:
- Open Quickbooks.
- Go to banking
- Select reconciliation.
- Select the account which you need to reconcile.
- Select the period you need to reconcile your accounts.
- Enter the beginning balance and ending balance for particular time period.
- Check the transaction matching in the bank statement.
- Click on Reconcile window.
- If there is any difference there is a screen to put that adjustment. You can add the adjustment and then it match and the difference should be ZERO.