Learn about the purpose of reconciling a bank account and how to do so following the step-by-step tutorial in QuickBooks Online.

1. QuickBooks Online
Bank Reconciliation

2. Ufuoma Ogaga, MBA, MHRM
 Owner of Goshen Bookkeeping & Consulting,
a full service virtual accounting firm offering
bookkeeping, payroll and QuickBooks training
services to small-to-medium businesses and
nonprofits nationwide.
 Accountant with over 8 years of experience
helping business professionals financially
succeed.
 Advanced Certified QuickBooks ProAdvisor
for Desktop and Online.
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http://www.goshenbookkeepingcc.com

3. Learning Objectives
 Purpose of bank reconciliation
 Steps to reconcile a bank account
 Access and print reconciliation report
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4. Purpose of Bank Reconciliation
 Ensures you have accurate financial reports to assess
the financial health of your business.
 It is required in an event of a tax audit and to ensure
all transactions are recorded on your books before
showing proof of income for bank loans.
 Reduces employee theft and money fraud.
 Helps you catch bank errors.
 Saves you money in CPA and bookkeeping fees.
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5. Steps to Reconcile a Bank Account
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6. Step 1
Download a copy of your most recent
bank statement as a pdf file from your
bank account or have a paper copy
handy to get started.
Login into QBO at qbo.intuit.com using
your username and password.
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7. Step 2
 Click on the Gear icon and choose Reconcile from
the Tools column.
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8. Step 3
 Select the bank account from the dropdown menu
then click on the Reconcile Now button.
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9. Step 4
 In the Start Reconciling window, enter the
Statement Ending Date and Ending Balance from
the pdf bank statement file you downloaded or paper
copy statement in Phase 1 then click OK.
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10. Step 5
In the Reconcile window, put a check
mark next to Hide transactions after
statement’s end date.
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11. Step 5 (cont.)
Start the reconciliation process by marking each
transactions as cleared starting with deposits first
followed by checks/withdraws.
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12. Step 6
 Once you have cleared all the transactions from your
bank statement, make sure the difference between
your statement ending balance and cleared
balance in QBO is zero, then click Finish Now.
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13. Step 7
 Once your reconciliation process is completed, QBO
will take you to back to the Reconciliation History &
Reports screen.
 In this screen, you can do any of the following:
 Click on the date to access and print the
reconciliation report for your records.
 See any auto adjustment you allowed QBO to
make during the reconciliation process.
 View a list of changes that were made to the
account after a reconciliation.
 Choose a different account to reconcile. 13

14. Step 8
Click on the date to access and print the reconciliation
report for your records.
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15. Thank you for reading!
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