QuickBooks Online: How to RECONCILE your bank statement

Поделиться
HTML-код
  • Опубликовано: 6 сен 2024

Комментарии • 279

  • @therealdjt6219
    @therealdjt6219 3 года назад +75

    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
      @DuayneHoward 2 года назад +2

      I can't agree with you enough.

    • @JP-ht5vgh
      @JP-ht5vgh Год назад +1

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

  • @login3457
    @login3457 3 года назад +5

    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.

  • @allannortje6440
    @allannortje6440 5 месяцев назад +1

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

  • @MobiusJack
    @MobiusJack 24 дня назад

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

  • @laa2902
    @laa2902 2 года назад +4

    Thanks! Reconciling simplified without unnecessary confusing details.

  • @lorenacantua8004
    @lorenacantua8004 3 года назад +5

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

  • @mkclem01
    @mkclem01 2 года назад +2

    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.

  • @alialsaghiryouhavebeenwond471
    @alialsaghiryouhavebeenwond471 5 месяцев назад +1

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

  • @halyoungblood3149
    @halyoungblood3149 2 года назад +5

    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!!

  • @belindachism79
    @belindachism79 3 года назад +4

    The instructor is awesome. This tutorial is very helpful.

  • @khawajadanishaltaf1847
    @khawajadanishaltaf1847 2 года назад +1

    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!!

  • @mariamay8755
    @mariamay8755 2 года назад +3

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

  • @4BetterEd
    @4BetterEd 2 года назад +2

    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.

  • @omomoschool930
    @omomoschool930 11 месяцев назад +1

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

  • @JenniferMolinar-g8x
    @JenniferMolinar-g8x 2 месяца назад

    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
      @HectorGarciaCPA  2 месяца назад +1

      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”

  • @komalbandre288
    @komalbandre288 6 месяцев назад

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

  • @2aa509
    @2aa509 3 месяца назад

    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.

  • @bing259
    @bing259 2 года назад +2

    Thank you for the step by step instructions.

  • @DanishGillani-Bookkeeper
    @DanishGillani-Bookkeeper Год назад +10

    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.🟢⚪

  • @suthrndaysi
    @suthrndaysi 2 года назад +2

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

  • @espressoequipment5474
    @espressoequipment5474 Год назад

    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
      @HectorGarciaCPA  Год назад

      You might need some one on one support

    • @espressoequipment5474
      @espressoequipment5474 Год назад

      @@HectorGarciaCPA is that something that you can offer?

    • @HectorGarciaCPA
      @HectorGarciaCPA  Год назад +1

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

  • @royleeh
    @royleeh Год назад +1

    I got the right Teacher. Thanks a lot hector.

  • @quickbooksonlinebookkeepin1475
    @quickbooksonlinebookkeepin1475 2 года назад +1

    One of best video for all.

  • @BlankitaStyles
    @BlankitaStyles Год назад

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

  • @debrajasey3212
    @debrajasey3212 Год назад +1

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

  • @dianacomilang1719
    @dianacomilang1719 28 дней назад

    Been a fan since 2018 thanks mentor Hector !

  • @Venus0ne14
    @Venus0ne14 10 месяцев назад

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

  • @williamstyne5749
    @williamstyne5749 3 года назад

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

  • @RandiJamesInc
    @RandiJamesInc 2 года назад

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

  • @milkzaccounting
    @milkzaccounting Год назад +1

    Always a nice watch. Thank you Hector!

  • @user-lw1ds9jw1c
    @user-lw1ds9jw1c 10 месяцев назад

    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.

  • @Nimshub470
    @Nimshub470 Месяц назад

    Best video so far! Thank you so much.

  • @sabrinam4335
    @sabrinam4335 Год назад

    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
      @HectorGarciaCPA  Год назад

      :)

    • @sabrinam4335
      @sabrinam4335 Год назад

      @@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!! 💙

  • @taiekehaughton8290
    @taiekehaughton8290 Год назад

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

  • @syedarafathunnisa
    @syedarafathunnisa Год назад

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

  • @muinmdugommd6434
    @muinmdugommd6434 Год назад

    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?

  • @noorykorky5056
    @noorykorky5056 Месяц назад

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

    • @HectorGarciaCPA
      @HectorGarciaCPA  Месяц назад

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

    • @noorykorky5056
      @noorykorky5056 Месяц назад

      @@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...

  • @anne-mariemorales8726
    @anne-mariemorales8726 2 дня назад

    Fantastic resource thank you!

  • @josephinempeaker
    @josephinempeaker 5 месяцев назад

    i love watching all your videos. you are amazing hector

  • @luzenstad3879
    @luzenstad3879 Год назад

    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

  • @hiyamoraha3142
    @hiyamoraha3142 2 года назад +1

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

  • @honnylaneferrarin3705
    @honnylaneferrarin3705 2 года назад +1

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

  • @JenniferMolinar-g8x
    @JenniferMolinar-g8x 2 месяца назад

    Thank you Hector. I'll try that.

  • @anecitaolar4533
    @anecitaolar4533 25 дней назад +1

    Thank you so much.

  • @beginnersbyahmed1751
    @beginnersbyahmed1751 10 месяцев назад

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

  • @jorgefraga5045
    @jorgefraga5045 2 года назад +2

    Very nice video. Thanks

  • @JeanYoungmyphotos
    @JeanYoungmyphotos 2 года назад +1

    Excellent content and presentation! Thanks Hector.

  • @vadlavikramchary4660
    @vadlavikramchary4660 5 месяцев назад

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

    • @HectorGarciaCPA
      @HectorGarciaCPA  5 месяцев назад

      You need to reconcile that correct beginning balance

  • @professionalstudiesportala3234

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

  • @user-ci8lg3oy6l
    @user-ci8lg3oy6l 6 месяцев назад

    Amazing, absolutely thorough video. Thank you so much!

  • @zeicrea
    @zeicrea 2 года назад +1

    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.

  • @olegmatsiulka7803
    @olegmatsiulka7803 3 года назад +3

    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
      @HectorGarciaCPA  3 года назад +1

      Adjustment… $.02 is insignificant

    • @olegmatsiulka7803
      @olegmatsiulka7803 3 года назад

      ​@@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
      @florencemarcelin7068 2 года назад

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

    • @louietoltolvlog9699
      @louietoltolvlog9699 2 года назад +1

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

  • @TonyMontana-xb7fh
    @TonyMontana-xb7fh 2 года назад

    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.

  • @wandaharrison5389
    @wandaharrison5389 Год назад

    The check # no longer displays on my reconciliation. Very difficult to reconcile when I have several transactions of the same amount.

  • @Ahmadshah-sl4ln
    @Ahmadshah-sl4ln 10 месяцев назад

    Such a professional personality

  • @halla6323
    @halla6323 2 года назад +1

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

  • @emeliego6701
    @emeliego6701 3 года назад

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

  • @felicityanfilofieff7059
    @felicityanfilofieff7059 2 года назад

    what if my beginning balance does not match my statement? And quickbooks isnt allowing me to change the opening balance

    • @HectorGarciaCPA
      @HectorGarciaCPA  2 года назад

      You need to UNDO the reconciliations, there is another video explaining that

  • @marydenny5231
    @marydenny5231 2 года назад

    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
      @HectorGarciaCPA  2 года назад

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

  • @shelbykyle9845
    @shelbykyle9845 2 года назад

    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
      @HectorGarciaCPA  2 года назад

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

  • @SunShine-ng4qr
    @SunShine-ng4qr 2 года назад

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

  • @jodicolon2280
    @jodicolon2280 2 года назад

    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

  • @DrewKeeper
    @DrewKeeper 3 месяца назад

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

  • @rereretha2378
    @rereretha2378 2 года назад

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

  • @ArifKhan47547
    @ArifKhan47547 8 месяцев назад

    King of quickbook sir

  • @jocunningham
    @jocunningham Год назад

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

  • @debbiemelnikoff
    @debbiemelnikoff 3 года назад +3

    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
      @lizc8214 3 года назад

      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.

  • @graelamb1556
    @graelamb1556 3 года назад

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

  • @salonstyles9956
    @salonstyles9956 2 года назад +1

    Awesome tutorial!

  • @alfredoumayam8008
    @alfredoumayam8008 3 года назад +1

    Thank you for this. I learned a lot.

  • @ishabhargava2991
    @ishabhargava2991 3 года назад

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

    • @HectorGarciaCPA
      @HectorGarciaCPA  3 года назад

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

  • @allistoninteriorsltd5097
    @allistoninteriorsltd5097 2 года назад

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

    • @HectorGarciaCPA
      @HectorGarciaCPA  2 года назад

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

  • @sandhyakotra4191
    @sandhyakotra4191 Год назад

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

  • @renee5935
    @renee5935 Год назад

    Why my transaction not showing

  • @kathleenfoml3737
    @kathleenfoml3737 2 года назад

    I need to do bank reconciliation Desk Top

  • @user-pm5fm6zh5z
    @user-pm5fm6zh5z Год назад +1

    Best ever!! Thank you!!!👏

  • @colleensalubo5309
    @colleensalubo5309 4 месяца назад

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

    • @HectorGarciaCPA
      @HectorGarciaCPA  4 месяца назад

      This is the normal way regardless how many you have

  • @andrewschaffer4540
    @andrewschaffer4540 2 года назад

    i just did the "click all and the click all again to clear transaction checks to start fresh" and i still have deposits and payments in the math at the top.
    what do i do here?

  • @louietoltolvlog9699
    @louietoltolvlog9699 2 года назад

    What if beginning balance is incorrect or not sure?

  • @melindadupuis
    @melindadupuis 2 года назад

    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?

  • @ojiegarcia6981
    @ojiegarcia6981 2 года назад

    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?

  • @mariahanncraig
    @mariahanncraig 2 года назад

    How do I add my banking info so that when I hit the "View Statement" button the current statement automatically pops up so that I don't have to add it manually?

    • @HectorGarciaCPA
      @HectorGarciaCPA  2 года назад

      Your bank would need to be setup with QB to do that, not all the banks are ready

  • @l.g3370
    @l.g3370 Год назад

    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
      @HectorGarciaCPA  Год назад

      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

  • @brucedarby2908
    @brucedarby2908 2 года назад

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

  • @cbr600325i
    @cbr600325i 3 года назад +1

    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.

  • @jafferh9322
    @jafferh9322 Год назад

    It's not a recommendable version. QBO has lots of issues. The desktop version is a much better and stronger version.

  • @hazelnut7309
    @hazelnut7309 Год назад

    I have a discrepancy on my reconciliation and I found it, but I do not know how to fix it. what can I do?

  • @shaageerichard2118
    @shaageerichard2118 8 месяцев назад

    Very helpful. The video is great

  • @puranluthra6762
    @puranluthra6762 Год назад +1

    wonderful tutorial

  • @florencemarcelin7068
    @florencemarcelin7068 2 года назад

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

  • @karenarias2711
    @karenarias2711 Год назад

    What if if is not the right number? Its my first time reconciling the account so my QBO says 0 and the bank statement says a number from the beginning of that month.

    • @HectorGarciaCPA
      @HectorGarciaCPA  Год назад

      You might need to undo the last reconciliations, and start from scratch.

  • @Ahmadshah-sl4ln
    @Ahmadshah-sl4ln Год назад +1

    Perfect .

  • @folasadeonilawal5705
    @folasadeonilawal5705 10 месяцев назад

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

  • @deborahblevins2779
    @deborahblevins2779 2 года назад

    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
      @HectorGarciaCPA  2 года назад

      Delete it

    • @deborahblevins2779
      @deborahblevins2779 2 года назад

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

    • @deborahblevins2779
      @deborahblevins2779 2 года назад

      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
      @HectorGarciaCPA  2 года назад

      @@deborahblevins2779 the one linked to the invoice stays

  • @faithwallace9513
    @faithwallace9513 Год назад

    good way to make sure that there is no fraud , is to have the bank statements, quickbooks and transactions for cross reference each month.

  • @angelirienoindia
    @angelirienoindia Год назад

    Binge watching your content! New subscriber!

  • @bibianahuerta4518
    @bibianahuerta4518 2 года назад

    Hello. I have a question. How would I categorize my sales tax payments when they hit my bank? I think I did not set up my chart of accounts right because when it comes to choosing the payee I am ok but when I have to choose the category it is where I am wrong. Can you help?

    • @HectorGarciaCPA
      @HectorGarciaCPA  2 года назад

      Should go to Sales Tax Payable

    • @bibianahuerta4518
      @bibianahuerta4518 2 года назад

      Oh!!!! Ok. I will try that. Thank you so much for your reply. Thank you, Thank you!!!

  • @MrJohnGroot
    @MrJohnGroot 2 года назад

    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
      @HectorGarciaCPA  2 года назад

      I would have used classes

    • @MrJohnGroot
      @MrJohnGroot 2 года назад

      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

  • @christineathery3925
    @christineathery3925 Год назад

    My online statement doesn't have "check mark" circles.

    • @HectorGarciaCPA
      @HectorGarciaCPA  Год назад

      You mean, your reconciliations page? It should have it.. try zooming in and out mayeb

  • @Csi807
    @Csi807 2 года назад

    In QB desktop can I undo a reconciliation for a specific month, without undoing other months?

    • @auradkhan5065
      @auradkhan5065 Месяц назад

      I made a mistake when I tried to change the date from July to August, but I only realized it after reconciling till December. After looking into it, I was told that it's not possible to change or redo any month without undoing everything from August to December.