Chapter 5
Carrying Out Banking and Account Reconciliations
IN THIS CHAPTER
Understanding how to add a bank or credit card account to your books
Recording bank deposits
Connecting QuickBooks with your financial institutions
Reviewing synchronized or imported transactions
Performing bank and credit card account reconciliations
In this chapter, I show you not only how to set up bank and credit card accounts in QuickBooks but also how to reconcile bank and credit card accounts. If you’re wondering how to record credit card transactions in QuickBooks, see Chapter 3; you record credit card transactions in the same fashion as you record expense transactions that post to your bank account.
Establishing Bank or Credit Card Accounts
In Chapter 1, I discuss adding new accounts to your chart of accounts, which QuickBooks sometimes confusingly refers to as categories. The steps for adding a bank or credit card are similar to creating a revenue or expense account but have an extra tweak of requiring ...
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