Once you have downloaded your bank and credit card transactions into QuickBooks® Online QBO, view them by clicking “Banking” on the left column of your dashboard. It’s important to recognize that it’s not until the transactions have been put into their respective income or expense category (as dictated by the chart of accounts) that the…
Disclaimer: Always seek the advice of a CPA and/or an accounting professional before making any changes to your opening balance. The following is intended for general information purposes only and does not replace the counsel of a professional. Before changing the opening balance of a bank account, which is not normally recommended, it’s prudent to…
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What is a bank reconciliation and why is it important? It’s the comparison between your money/cash business transactions (book balance) and those of your bank (bank balance). When the amounts match or are the same then they are in balance and your account is described as reconciled. How to fix reconciliation discrepancies. What if your…
