13. Working with Bank and Credit Card Accounts

Incorrect bank account balances are 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 you should do in QuickBooks is match your bank or credit card transactions recorded in QuickBooks with the same transactions reported by the financial institution in their monthly ...

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