A common mistake in reconciliation is clearing a wrong transaction. You can undo the last reconciliation in QuickBooks Desktop accounting software to rectify it.

Bank reconciliation is a periodic process to match the bank statement against the information you have recorded in the accounting system.

A bank reconciliation is a process of reconciling the Cash Book account (GL) with the Bank Statement. It is a process of picking the discrepancy between the two, such as omission error, typo error, duplicated transactions, etc..

QuickBooks Previous Reconciliation report come handy when you have forgotten to print after reconcile or there is a discrepancy…

Software: Intuit #QuickBooks Desktop #accounting software The ledger balance of the bank account as at the last financial year-end closing can be use as the opening balance of the bank account in QuickBooks, or derive the opening balance from the closing balance of the bank statement and record the un-presented cheque and deposit separately. Most […]

Software: MoneyWorks #accounting software Bank Reconciliation is a process of matching the transactions and balances in the ledger against the Bank Statement and ensure consistency between the two. You should use the bank reconciliation feature in the accounting software to reconcile the bank account and NOT manually reconcile the bank with your spreadsheet or manual […]