For more information, see the other posts in our bank reconciliations series:
Part I - Reconciling Credit Card Accounts
Part II - Hiding Transactions
Translations from Your Trusted Advisor.
Do you receive mid-month bank statements or credit card statements that you reconcile in QuickBooks? You can change the statement date in the QuickBooks reconciliation screen to the end of the month and reconcile to the month-end or year-end balance using your bank balance for that date. Then, when you get your next statement you will reconcile your account as you normally would, changing the statement date to match the statement, and then only reconciling the new transactions on the statement. If you do this at year-end you can verify that payments and deposits are recorded in the correct period. If you have a significant amount of activity you can also make reconciling the statement easier by reconciling the account weekly instead of monthly.
For more information, see the other posts in our bank reconciliations series: Part I - Reconciling Credit Card Accounts Part II - Hiding Transactions
0 Comments
Your comment will be posted after it is approved.
Leave a Reply. |
Don't Like Being a Number?
CALL OURS(603) 224-2000
or email us, we’re flexible
Share your thoughts about
our firm and service! Categories
All
Archives
January 2021
|