My biggest takeaway is to work with a new feature before judging it.If you’re self-employed, managing your accounts and keeping track of your taxes isn’t always easy.
BANK RECONCILIATION QUICKBOOKS TUTORIAL PROFESSIONAL
The new window has a very professional look. To sum it up, I think the changes are good ones and they have definitely added efficiency to the task of reconciling. If I click on Edit, it takes me back to the original transaction. The check transactions do not come through with a check number, so I get to add it here. If I click on a transaction, I have the option to put a reference number in here. Now, for one of my favorite changes of all: When I am looking at the bank statement, I can quickly go down the page and check it against the Bank Reconciliation window. They were entered manually, and once they are “matched,” the “cleared date” populates. Notice the two transactions that have no “cleared date.” These are transactions that have not come through the bank feed. When I click on Cleared Date, the transactions are sorted by the date they cleared the bank. The one I want to bring to your attention is the “Cleared Date” column. The column headings are pretty much the same as in the older Bank Reconciliation window, and you can sort by clicking on the heading. I start out using the All option, but I like the idea of switching if need be. You can choose to only see payments or deposits, or to view all. The next options are Payments, Deposits and All. It not only clears the filter, but also shows all transactions regardless of your statement ending date.Ĭlick on the Reset Statement ending date and you are back to the default, which is to show transactions up to the date that you set and the menu changes back to its original state. When you are finished with the filter results, it stands to reason you would want to click on this option. This next part is a little tricky, but I want to help you understand what happens “if.” Click on the different drop-down arrows to see the filter choices. The Filter window is self-explanatory so I won’t go over all of it. This takes you back to the original screen. It happens, but all you have to do is click on Reset and Apply in the filter window.
When I was reconciling my client’s bank statements, I must have clicked on something that changed what showed on my screen. I filtered for the amount and the transactions are listed: This is the default, and it is no longer necessary to click on “Hide transactions after the _.” It might be a small change, but a good one. When you enter the statement ending date, the bank reconciliation window shows only the transactions to that date. The Edit info button lets you edit the statement information: I like this view, but I like the ability to see both views. You can collapse the summary by clicking on the. The summary at the top shows Beginning Balance, Ending Balance and total Payments and total Deposits. It looks a lot like most bank statements. Here is a screenshot of the new Reconcile window: Below is a small tutorial on the changes. Once I realized how efficiently I could get the bank recs done, and in record time, I wanted to help others accept the change with little frustration. This was a good client who counted on me to get the job done. I wasn’t as confident as I usually am, and therefore, it became an unpleasant “job.” Finally, I tackled the job. I had a client who needed me to do a year’s worth of bank reconciliations, and I put it off for days because I was so frustrated with the new look. The Bank Reconciliation feature got a brand new look and one that I didn’t like. I enjoy doing bank recs and felt that QuickBooks® Online (QBO) had a great Bank Reconciliation feature, or so I thought. The unfamiliarity of change makes me uncomfortable, but I usually embrace it in the end. Usually.īut, when I see a change to something that I feel already works fine, I tend to balk. I am an advanced QuickBooks ProAdvisor® for Desktop and Online.
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