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:

  1. Open Quickbooks.
  2. Go to banking
  3. Select reconciliation.
  4. Select the account which you need to reconcile.
  5. Select the period you need to reconcile your accounts.
  6. Enter the beginning balance and ending balance for particular time period.
  7. Check the transaction matching in the bank statement.
  8. Click on Reconcile window.
  9. 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.