QuickBooks Online: How to RECONCILE your bank statement

[@therealdjt6219]

Just finished binge watching 4 hours of your previous videos. You’re invaluable to us qbo newbies. Thanks so much Hector, you’ve got a big fan here.

[@DuayneHoward]

I can't agree with you enough.

[@JP-ht5vgh]

Absolutely agree! Been watching these videos for a few days now and i can see EVERYTHING i was doing wrong LOL

[@allannortje6440]

Hector, you are the best Quickbooks tutor on KZbin, you don't skip anything that is important and nothing you do is confusing, a shout out here from South Africa !

[@HectorGarciaCPA]

:)

[@login3457]

Sir I am a little learner & a big fan of yours. I have more than 6 years of bookkeeping experience & also a quickbooks proadvisor certified. Now I want to work with you as an intern.

[@lorenacantua8004]

Thanks, this video was very helpful! I used to reconcile on excel and didn’t know how to do it in qb!

[@mkclem01]

Thank you Hector; you provided some great detail. I've been reconciling bank statements in Desktop QB for over 30 years and just migrated to on-line. I learned a lot from your video that is going to save me time.

[@HectorGarciaCPA]

Awesome

[@MobiusJack]

You are a gentleman and a saint for offering so much knowledge so freely and completely, Hector. May God richly Bless you.

[@HectorGarciaCPA]

:)

[@komalbandre288]

Thank you so much Hector, because of you I learned to reconcile the account successfully. Loads of blessings to you, Thanks a lot

[@HectorGarciaCPA]

:)

[@laa2902]

Thanks! Reconciling simplified without unnecessary confusing details.

[@mariamay8755]

Thanks Hector, I really learned a lot from your videos, actually your videos help me also to pass the quickbooks proadvisor examination.

[@halyoungblood3149]

Hector your videos are great! Very thorough and descriptive. Thank you so much for putting these out here for us newbies!! Yours are the best I've seen. Your 3.75 hr introductory video was a great starting place to learning the ins and outs. Thank you!!

[@HectorGarciaCPA]

Glad you like it

[@alialsaghiryouhavebeenwond471]

Your lectures are very informative. Can show you show me how to prepare a check and print it

[@HectorGarciaCPA]

:)

[@omomoschool930]

Thank you so much for taking the time the put this video on reconciliation together .

[@HectorGarciaCPA]

You are welcome

[@BlankitaStyles]

Wow! this tutorial is awesome. I'm a smal business and I'm learning on how to use QB. Thank for the clear explanations.

[@HectorGarciaCPA]

:)

[@4BetterEd]

This does look like it's very useful, if not the most useful feature. It will also take some practice. I want to hear more about sub-categories I hope that is taken up soon.

[@belindachism79]

The instructor is awesome. This tutorial is very helpful.

[@suthrndaysi]

I agree!

[@taiekehaughton8290]

OMG. Thank you so much. I followed your step-by-step process and I did it. Wow.

[@HectorGarciaCPA]

Fantastic!

[@espressoequipment5474]

You are such a life saver, I did many things and now i can't fix my reconciliation for one month, I'm losing my head. I'm off on the difference and I don't know what else to do.

[@HectorGarciaCPA]

You might need some one on one support

[@espressoequipment5474]

@@HectorGarciaCPA is that something that you can offer?

[@HectorGarciaCPA]

@@espressoequipment5474 my team can, starting at $395. Call 954-414-1524 to set it up

[@bing259]

Thank you for the step by step instructions.

[@Venus0ne14]

Such an easy fix after hours of trying to figure it out! Thank you so very much for sharing your extensive knowledge.

[@HectorGarciaCPA]

:)

[@royleeh]

I got the right Teacher. Thanks a lot hector.

[@suthrndaysi]

Thank you! You also speak in ways I fully understand!

[@shulizhang-m6t]

Hector you are an awesome tutor. Thank you so much for such a great explanation of bank reconciliation. Really appreciate your time and effort sharing it.

[@HectorGarciaCPA]

You welcome

[@sabrinam4335]

Thank you for this explanation, Ive been given a new position from home and they use quickbooks, ive used xero but not quickbooks & ur video is everything, ive learnt alot, much appreciated 😗 stay blessed 💚

[@HectorGarciaCPA]

:)

[@sabrinam4335]

@@HectorGarciaCPA almost finished watching your " introduction to quickbooks desktop" tutorial, this has given me a bigger view of the software, I cant thank you enough 😗 again much appreciated!! 💙

[@williamstyne5749]

Thank you, the last 10 minutes of this solved my concern about Balance sheet and Bank Statement mismatch.

[@HectorGarciaCPA]

Yes is a common question

[@khawajadanishaltaf1847]

Hi Hector. 1. I have a supplier credit note that I have recorded already. There is a Money Coming in the bank account against that Supplier Credit. How can I match my Money In bank transaction with the supplier credit. Would you please do a short video on this. Thank you so much for all your videos. 2. We can change categories in Batch can we change VAT/Sales Tax rate of a Batch of transactions. Would you Please guide!!

[@beginnersbyahmed1751]

Truly amazing and your teaching style is also polite thank you so much.

[@HectorGarciaCPA]

Glad you like it

[@milkzaccounting]

Always a nice watch. Thank you Hector!

[@HectorGarciaCPA]

Thanks, keep watching and liking!

[@ShainaCorrea-k2v]

Amazing, absolutely thorough video. Thank you so much!

[@HectorGarciaCPA]

Glad it was helpful!

[@josephinempeaker]

i love watching all your videos. you are amazing hector

[@HectorGarciaCPA]

Thanks

[@azucar.morena]

Your videos have been a great help for me. Thank you 💜

[@HectorGarciaCPA]

@@azucar.morena :)

[@honnylaneferrarin3705]

Thank you so much Hector,you really a great teacher..

[@debrajasey3212]

Hey Mr. Hector, how would you reconcile your bank statement if some of the added square transactions are missing? Thank you for great videos.

[@Nimshub470]

Best video so far! Thank you so much.

[@HectorGarciaCPA]

:)

[@emeliego6701]

Thank you so much sir, i fully understand now on qbo bank reconcilliation. God bless.

[@dianacomilang1719]

Been a fan since 2018 thanks mentor Hector !

[@HectorGarciaCPA]

:)

[@JenniferMolinar-g8x]

Best QBO tutor! What would explain a transaction that is a "deposit" also showing up as a "payment" when I try and reconcile? Do you have a video that shows steps from invoicing a customer, to receiving payment (placing in undeposited funds), then making a deposit to the correct bank account, and then reconciling when using the bank link? Thank you.

[@HectorGarciaCPA]

Kinda hard to judge without looking at it. But maybe when you go into that Payment, change the “deposit to” account from the bank account and into “Undeposited Funds”

[@SunShine-ng4qr]

Thank you very much! I learned a lot from this Reconciliation video.

[@sandhyakotra4191]

Thank you so much, this video definitely helped me a lot.

[@halla6323]

Excellent videos, the best so far. Thank you for such a thorough demonstration in the subject.

[@2aa509]

hello Hector, i am from Pakistan and learning quickbooks to do freelancing so that i can pay my college and hostel fees and if i something left after these expenses i will buy my favourite blue colour t shirts.I hope i will get clients on fiver or upwork.I dont have anything to give you except my prayers.

[@HectorGarciaCPA]

Best of luck

[@quickbooksonlinebookkeepin1475]

One of best video for all.

[@HectorGarciaCPA]

Good :)

[@olegmatsiulka7803]

Thank you for this video. As always it is very helpful and useful. I have a question: what would you do if you had 1799 transactions in bank reconciliation and just a 0.02$ difference? Would you make an adjustment or re-check each transaction? Or any other solutions?

[@HectorGarciaCPA]

Adjustment… $.02 is insignificant

[@olegmatsiulka7803]

​@@HectorGarciaCPA Thank you, Hector, I am asking because I faced the problem doing reconciliation that even the small discrepancy can cause issues that affect further periods. In my case, it involved transactions with thousands of dollars afterward...

[@florencemarcelin7068]

@@HectorGarciaCPA I have the cleared date on my screen,but I do not have the transaction date ?

[@louietoltolvlog9699]

@@HectorGarciaCPA you’re so amazing ! Sharing your high educated knowledge is so amazing

[@zeicrea]

Your channel is very helpful and full of great information and a very good quality of your videos, to any one wants to start with the bookkeeping i really recommend this channel. I have a question is it possible to become a certified payroll with QuickBooks? Thank you for your efforts.

[@HectorGarciaCPA]

Proadvisor.intuit.com

[@JenniferMolinar-g8x]

Thank you Hector. I'll try that.

[@HectorGarciaCPA]

:)

[@JeanYoungmyphotos]

Excellent content and presentation! Thanks Hector.

[@HectorGarciaCPA]

Thanks

[@Ahmadshah-sl4ln]

Such a professional personality

[@HectorGarciaCPA]

:)

[@graelamb1556]

Thank you so much, Mr. Garcia. God bless!

[@brucedarby2908]

Nice! Thank you for helping, you solved my mystery!

[@HectorGarciaCPA]

:)

[@debbiemelnikoff]

Hector, great video on reconciliations. Do you have a video that explains how to enter bank and credit card statement data manually when reconciling. My QB online version does not have the bank/credit card connection so my data is not downloaded into Quick Books. Thank You!

[@lizc8214]

I enter the expenses as you would any expense. However, when paying I pay by the CC account. That way that transaction shows up as a CC transaction and will match the statement. I hope this helps.

[@alfredoumayam8008]

Thank you for this. I learned a lot.

[@professionalstudiesportala3234]

Thanks for sharing this can you guide me please how I can get dummy bank statements for practice in QBO

[@HectorGarciaCPA]

Search them in google

[@rereretha2378]

Thank you for your youtube 🙏🙏👍👍👍 Sir how about if the beginning balance different? Thank you

[@luzenstad3879]

Hector please do a video on how to filled a w2c instrucciones when only the ss# is entered incorrect. And w3c when the total amounts filled on w2 were correct. Thanks

[@HectorGarciaCPA]

I wont do a video like that..

[@luzenstad3879]

@@HectorGarciaCPA thanks

[@ArifKhan47547]

King of quickbook sir

[@HectorGarciaCPA]

:)

[@jocunningham]

Would u also do monthly reconciliation for a 6 month clean/catch up?

[@jorgefraga5045]

Very nice video. Thanks

[@HectorGarciaCPA]

You welcome

[@anne-mariemorales8726]

Fantastic resource thank you!

[@HectorGarciaCPA]

:)

[@DeyarMarchese]

Best ever!! Thank you!!!👏

[@HectorGarciaCPA]

Sure, my pleasure

[@salonstyles9956]

Awesome tutorial!

[@anecitaolar4533]

Thank you so much.

[@HectorGarciaCPA]

:)

[@RandiJamesInc]

Need help figuring out an unexplainable difference amount during reconciliation. I've followed the steps here but I still have a large difference.

[@puranluthra6762]

wonderful tutorial

[@HectorGarciaCPA]

Thanks

[@cbr600325i]

Great video Hector. By mistake, I deleted a vendor payment which had cleared months before the current bank rec. Now there is difference on the beginning balance while reconciling. How do I enter the vendor payment I deleted and reconcile it? Thanks.

[@HectorGarciaCPA]

Yes.. enter the payment an re reconcile last month

[@cbr600325i]

Thanks!

[@angelirienoindia]

Binge watching your content! New subscriber!

[@HectorGarciaCPA]

LOL Great, thanks

[@hiyamoraha3142]

Hello, do you have a video on how to reconcile PayPal account?

[@carol-anneanderson5195]

yes please!!!

[@syedarafathunnisa]

why do the balance sheet shows negative bank balance when recociliation is correctly done? please reply

[@muinmdugommd6434]

uick question: when reconciling my business checking account, QB tells me that one tansaction ws deleted, which is a credit card payment from the checking account. But that transaction is there and reconciled in the checking and credit card ledger! Any explanation?

[@shaageerichard2118]

Very helpful. The video is great

[@HectorGarciaCPA]

Glad it was helpful!

[@marariesmeyer8385]

Thank you for your videos!!!!

[@HectorGarciaCPA]

:)

[@raykaelin]

Dude, absolutely super job!

[@HectorGarciaCPA]

Great glad you like it

[@folasadeonilawal5705]

Hello, How can I sign up for the advanced bank reconciliation course?

[@HectorGarciaCPA]

Hectorgarcia.teachable.com

[@shelbykyle9845]

I am a beginner with QB online. I would like to know how to reconcile bank statements from a previous year? When I select "reconcile", there is a beginning balance shown. Where does this amount come from. I have never reconciled anything in QB. I just moved from an obsolete accounting system. I'm so lost!!

[@HectorGarciaCPA]

There is an entry that was downloaded from The bank that represents that beginning balance, you can delete the entry

[@valeriemartini6315]

Hectors do you have training classes? I want to learn more about projects. Can you add invoices and expenses to a project after the fact. Closed

[@HectorGarciaCPA]

Yes, my advanced videos are available here: Hectorgarcia.com/advanced

[@valeriemartini6315]

@@HectorGarciaCPA Thank you I’ll check it out. As I need to learn more advanced. I’m taking an intermediate class right now

[@HectorGarciaCPA]

@@valeriemartini6315 great.. mine are mostly advanced

[@amzanz9145]

Thanks Hector.

[@HectorGarciaCPA]

:)

[@florencemarcelin7068]

Great video,I have cleared date ,but I do not have the transation dade What I have to do Hector Gracia?

[@HectorGarciaCPA]

Weird

[@TonyMontana-xb7fh]

If you are in cash basics you shouldn't have to worry about those two last checks on February, if they haven't clear your account you should move the date to March.

[@jodicolon2280]

i need some help, so i am trying to reconcile. step #1 Deposit to match them them i did, Then step #2 was do EXPENSE which i was matching them but some of where not in the list but they are in the "register" the dates are in line with the month but they are not showing up in the reconcile

[@DanishGillani-Bookkeeper]

Because I come from a poor family, I cannot afford to buy QB Source. The love and respect of Pakistan goes out to you for these wonderful lectures, sir.🟢⚪

[@HectorGarciaCPA]

Thank you, happy to help

[@DrewKeeper]

Wondering if you tutor people on "Wave" Accounting Software?

[@HectorGarciaCPA]

No, Wave is garbage

[@melindadupuis]

Hi Hector, I love this video. I'm wondering if you can help me with an issue I'm having. When I'm in reconcile my transaction for a transfer will show as a transfer and as a deposit. How do i make them one? for example: I transferred $5 from account A to account B. Now in reconcile it says there was a deposit for $5 into account B and a transfer for $5 into account B. I can't give the blue check to both transactions because it makes the difference balance $5. What do i do?

[@HectorGarciaCPA]

I would need to see it sorry

[@ishabhargava2991]

Could you please let me know how to create custom report to extract vendor bills with items, rates and quantities from quickbooks.

[@HectorGarciaCPA]

QB online? I don’t think you can have such Report

[@l.g3370]

Hi Hector, how did you know that transaction has to be recorded under the management fee? suppose you have it under unclear transactions what can you dO?

[@HectorGarciaCPA]

I didn’t “know” i would have gathered info from the person that made the expense and picked the best option from the chart of accounts

[@noorhuda6555]

Very helpful thanks alot

[@ParamountTaxCharlotteNC]

Hola, Hector. He tenido inconvenientes jalonando la información desde el banco respecto a que me trajo toda la información desde la creación de la cuenta bancaria, pero los ingresos que en el banco se denominan "credit", en el banking que he importado a QB me salen todos como "spent". Realmente, todas estas son transacciones de ingreso de dinero que los clientes han pagado con tarjeta de crédito en el counter del negocio (plataforma Clover). Lo que necesito es que esto sea al revés, es decir, que lo tome como lo que es: un ingreso por ventas. Qué debo hacer?

[@HectorGarciaCPA]

Bajalo manualmente con un archivo CSV del banco

[@noorykorky5056]

What if the difference between the two accounts (the QBO and the bank account) increases as you continue to reconcile the accounts?

[@HectorGarciaCPA]

Once you reconcile and delete all duplicates/errors, bank and QBO will match

[@noorykorky5056]

@@HectorGarciaCPA Thank you for the response; let me keep going and see if it gets any better... Even though I'm an accounting student, this is sometimes very confusing...

[@ojiegarcia6981]

So in Bank reconciliation in QBO, you are making the book balance agree with the bank balance? so you only apply the book reconciling items..what about if it's the bank that made the miss recording? like 2 debits instead of one, or 2 credits instead of just one?

[@HectorGarciaCPA]

As long as total amounts coincide.

[@vadlavikramchary4660]

For example the beginning balance is zero , How can I use it ?

[@HectorGarciaCPA]

You need to reconcile that correct beginning balance

[@kathleenfoml3737]

I need to do bank reconciliation Desk Top

[@HectorGarciaCPA]

Ok

[@collin9741]

Appreciate you! Very informative

[@HectorGarciaCPA]

:)

[@deborahblevins2779]

HELP! I am doing the bookkeeping for my son and am learning QB as I go by watching your videos!! Thank you!! During the reconciliation process, one issue I'm regularly seeing is duplicate deposits. It appears one deposit comes in from the bank feed and the other deposit is "system-generated" in QB during the payment received process. How do we stop the system-generated deposit from being created in QB?

[@HectorGarciaCPA]

Delete it

[@deborahblevins2779]

@@HectorGarciaCPA Do i delete the "system-generated" deposit that shows up in "undeposited funds" or the bank generated deposit when reconciling?

[@deborahblevins2779]

Hector, more specifically, the system-generated deposit is for a payment made direct through QB. It creates a system generated deposit in the reconciliation. A duplicate deposit it created when the payment comes comes through the bank feed to QB. Which one is correct and which one should be deleted?

[@HectorGarciaCPA]

@@deborahblevins2779 the one linked to the invoice stays

[@sophiestorontolife6566]

Very good,thank you

[@HectorGarciaCPA]

:)

[@MrJohnGroot]

Thank you. Treasurer for a 45 year old Social Club 501c7. Model Trains 250 members. Have annual Convention and each rev and exp item has been setup in QB Desktop as a separate Chart of Accounts Entry. Should I have done that?

[@HectorGarciaCPA]

I would have used classes

[@MrJohnGroot]

Thank you very much. I didn't know about classes on Desktop until I got QB online.. Should I begin to use classes and replace 2022 account entries. e.g. 2023 Convention Expenses which I have treated as a new account with sub-accounts below that and then replace with classes? Other people must have similar situations with repetitive projects. Since a project will have income and expense, how should I set it up? Since 2023 is a new year, I could start now but leave 2022 Convention Transactions alone. Please send me a bill if needed.🤫@@HectorGarciaCPA

[@Ahmadshah-sl4ln]

Perfect .

[@HectorGarciaCPA]

Thank you

[@allistoninteriorsltd5097]

How do I correct the ending date when i have already started to reconcile? I accidently put the wrong year? thank you

[@HectorGarciaCPA]

You have to UNDO the reconciliation, there is another video on that

[@Malik-ix2kx]

Great job👍🏻

[@ndouroubah7318]

Hi, I want to register for your QuickBooks online classes. Can you send me the link where I can find all the information I need?

[@HectorGarciaCPA]

Hectorgarcia.teachable.com

[@colleensalubo5309]

is this the normal way to do the bank recon on quickbooks? what if you have a thousand deposit transactions in a month?

[@HectorGarciaCPA]

This is the normal way regardless how many you have

[@marydenny5231]

I have two problems with a checking account . 1. the person that was doing the books did not use the "banking " section correctly. they would just add without matching a transaction. so there is double of numerous transactions through the entire year of 2021. Spoke to qb and i was told to go to banking and under the category column find each transaction and undo it. I did this and the duplicate transaction was removed. but it through my beginning Feb 2021 balance off by the amount of the items i "undone". what is the solution? 2. they reconciled the rest of the year manually (old fashion way) and put a 'r" on each reconciled transaction for the entire year. again spoke with qb and they sd since it was not reconciled through qb that I could just remove the "r" and it would have no effect on the books. I cannot tell if it does or does't because I can't get past Feb. 2021. about to pull my hair out. help!

[@HectorGarciaCPA]

You need mayor cleanup.. you need external help for that

[@hakhinton8019]

is there a way to practice reconciling with quickbooks online?

[@HectorGarciaCPA]

You need a bank statement for that

[@brandtcorpadministration6666]

Hector... love your videos! There is mention of a coupon code when you click the link to the advanced course, however it doesn't seem to work. Help!

[@HectorGarciaCPA]

Which course are you trying to buy?

[@HectorGarciaCPA]

Ok, the coupon expired, I extended it

[@brandtcorpadministration6666]

@@HectorGarciaCPA Thank you very much!