QuickBooks Online Adjusting The Bank Reconciliation

In This QuickBooks Online Video tutorial, you will learn when it is appropriate to adjust a bank reconciliation to make it fit and match. The only time it’s appropriate to adjust the bank rec is the first month you do bank reconciliation. That’s because sometimes it’s not possible to know the “book” balance or what the book balance would have been at the beginning because you did not start reconciling at the moment you started using the bank account in QuickBooks Online. In fact, it’s actually called a “beginning balance” adjustment for people to know that you should only adjust to make the beginning balance correct because you only found out what the beginning balance really was after several months of outstanding checks clearing the bank account. Sometimes, you can get away with adjusting the bank rec if the difference is immaterial; but you cannot make that judgement without consulting your accountant

This QuickBooks YouTube Playlist will make you an expert in bank reconciliation in QuickBooks online. It starts with basic bank reconciliation concepts and builds slowly to make you an expert in the bank rec process. It will give you real-life, hand on practice with actual bank reconciliation problems and solutions for anything that could come up when doing any company’s bank reconciliation in QuickBooks online. Every “on the job” challenge is addressed by demonstrating all bank reconciliation features and how they are used in QuickBooks online. The very last part of this playlist has videos that show how to prove that absolutely any type of company’s financial records and business transactions are correct to the last detail. These accounting concepts and auditing principals will hold true for any accounting software the business would use.


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