13. Working with Bank and Credit Card Accounts

Importance of Bank and Credit Card Balances

You might wonder why I would have to point out the importance of having the correct bank or credit card balances in your QuickBooks data, yet incorrect account balances are often one of the most common problems I find when troubleshooting a client’s QuickBooks data. One of the first questions I ask new clients is whether they have reconciled their bank or credit card accounts in QuickBooks. Most tell me they have. I then review any transactions that are not marked as cleared and I will usually find older, dated transactions that have not cleared. For more information, see “Reviewing Uncleared Transactions,” in this chapter.

One of the most important reconciliations ...

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