QuickBooks Online Tutorial: Reconciling the bank account (part 1 of 2)

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  • Опубликовано: 14 дек 2024

Комментарии • 203

  • @sheriylen2012
    @sheriylen2012 4 года назад +1

    Been using QBO for 3 years. This has been the most helpful 6 minutes and 41 seconds I’ve had! Thanks! Keep em coming.

    • @HectorGarciaCPA
      @HectorGarciaCPA  4 года назад +1

      Sheri’s She Shed that’s what “She Shed...”

    • @sheriylen2012
      @sheriylen2012 4 года назад

      Thanks for the laugh, sometimes I forget it’s set up that way! If I could tip you, I would!

  • @AG-cx9wi
    @AG-cx9wi 4 года назад +2

    Thanks for the video. I haven’t done reconciliation for 3 years and it’s nice to see this video. It’s a refresher.

  • @kcgeniz
    @kcgeniz 6 лет назад

    Hi Hector i am new with quickbooks I downloaded Quickbooks and paid for already. I started to enter some information such as vendors and I linked with our bank account. Everyone says that Quickbooks will work for us because we are a small business. I need all the information to be entered on Quickbooks retroactive as of July 1st, 2018. However, what I'm looking for is a program that can do the following:
    Enter the 4 different corporations that we have "separately". Each building is owned by a separate corporation.
    enter all 175 tenants we have with the lease expiration date, amount of the rent, phone number, and email addresses But to enter each tenant under their own building which is under the separate corporation.
    Try to keep track of when the lease expired for each tenant
    try to keep track of the tenant's rent due and balance and send an invoice if they didn't pay the rent on time
    keep track of the expenses separated by each corporation and bank account. (each corporation has its own bank account and owns a separate building)
    Keep track of repairs and work orders and even maybe keep track of the calls that come in from tenants asking for repairs.
    When I created the account i used my management company name but then when I linked the accounts all the bank accounts are under this profile and I don't know how to separate them and create one account for each building, corporation and bank account on Quickbooks. Can I do that under this account that I set up? For instance, if I have to send an invoice to a tenant about a rent past due, I want to be able to send it under the corporation name which owns the building where he lives and not under my management company as well when i enter expenses and pay bills. I want to do everything under the correspondent corporation.

  • @ItsjustmeAR
    @ItsjustmeAR 4 года назад

    I just want to point out that uncleared checks after 90 days should NOT be automatically voided. They should be worked as unclaimed property. Talk to the payee and determine if the check was lost or if the liability was satisfied in another payment. A unclaimed check can sit on the books from 1-3 years before its reported, which entirely depends on the state, the industry and the reason for the payment. This process should be started at 60 days. Document your efforts. While most states won’t go after a small business, they can. If you don’t keep good records of your good faith efforts to satisfy the liability, they can extrapolate using other means. That extrapolation is what costs big money in the long run. This is especially important when states are in a deficit and need money for their coffers. If an owner can’t be identified, as in the case of extrapolated amounts, it goes directly to the state to spend. The vast majority of ucp goes unclaimed at the state level and they’ve been using that untouched money for a while instead of keeping it in trust.

  • @elizabethchinea2456
    @elizabethchinea2456 5 лет назад

    Nunca mejor explicado he buscado y buscado esta explicacion y al fin encontre quien lo expique super bien en tan pocas palabras, mil gracias sigue haciendo videos asi.

  • @AustinDJones
    @AustinDJones 5 лет назад +4

    1:22 Broke My Heart

  • @rosanneturkington8622
    @rosanneturkington8622 3 года назад

    Can you show how to work with bank transfers

  • @mayacargo9548
    @mayacargo9548 2 года назад

    I heard you can undo the reconciliation, but on my i do not have that option.

  • @haidernaeemmalana8601
    @haidernaeemmalana8601 4 года назад +21

    tbh the hat wouldve helped me understand quickbooks more

    • @HectorGarciaCPA
      @HectorGarciaCPA  4 года назад +3

      haider bin naeem sadly i don’t have the hat anymore..

  • @TheBismila1
    @TheBismila1 4 года назад

    I don't suppose to ACCEPT deposits , and I don't understand why

  • @TheBismila1
    @TheBismila1 4 года назад

    Please make a video abouT " HOW TO RECONCILE DEPOSITS WITH THE 3 WAY MATCHING SYSTEM" The deposits are from a merchant, they receive credit card payments and group the deposits , and when we reconcile the bank we need to work with the 3 way matching system

    • @HectorGarciaCPA
      @HectorGarciaCPA  4 года назад +1

      Good idea.. I need to wait for use case so I can record it.

  • @uroospunyali8861
    @uroospunyali8861 4 года назад

    Why I cannot see date of transactions in my bank reconciliation page?

  • @newtong743
    @newtong743 3 года назад

    We’re are they getting the beginning balance from the day you opened the account? Or the current month

  • @maikafernandez6686
    @maikafernandez6686 3 года назад

    Hola Hector - Yo tengo una cuenta principal en libras y ahora he creado otra cuenta en Libras que es de un banco diferente y necesito crear para este mismo banco cuentas de diferentes divisas , me puedes indicar como tengo que crear las cuentas y luego que tengo que hacer para que Quickbooks lo pueda actualizar ? porque la cuenta en libras de otro banco no tengo la opcion de actualizar, solo puedo hacer reconcile

  • @jawedfaizan6652
    @jawedfaizan6652 4 года назад

    How to reconcile foreign currency Bank

  • @angelotorres9930
    @angelotorres9930 4 года назад

    Hi hector, stupid question, at around 2:50-2:60 how did you know which checks havent cleared yet

    • @HectorGarciaCPA
      @HectorGarciaCPA  4 года назад

      Angelo Torres the premise is, that I checked it against my bank statement

  • @HectorGarciaCPA
    @HectorGarciaCPA  3 года назад +1

    QuickBooks Online 30-day free trial + 50% off link: quickbooks.intuit.com/partners/irp/?cid=irp-4337#pricing (EXPIRES 9/30/2021)

  • @thecovelife5793
    @thecovelife5793 2 года назад

    Why doesnt the latest version of quickbooks allow me to change the starting balance from zero??? When I go to reconcile it only lets me hit edit. Then change ending balance. Starting balance is zero and your cannot edit it!! Help!

    • @HectorGarciaCPA
      @HectorGarciaCPA  2 года назад +1

      You can reconcile the last period and create whatever starting balance you want

  • @heather9525
    @heather9525 3 года назад

    Hi there. I have the old version Desk Top Pro. I am just learning to reconcile now 3 years into our business. I am going back to our first year. If you maintain a certain balance in the business account they waive the $35 bank change each month. On the statement it shows it as being charged & then again as being refunded back to your account. How do I show this in Quickbooks so my withdrawals & deposits match up? Thanks so much.

  • @katradkins4051
    @katradkins4051 4 года назад

    My bank statement and QuickBooks transactions match, however, it is still showing a negative difference amount. I have triple checked them one by one and everything is matching. I'm not sure what else to do, or where to look to search for any errors. Your help is greatly appreciated.

  • @justinsorci5998
    @justinsorci5998 4 года назад

    I may be missing a step, but wouldn’t it be more clear if Quickbooks had a split view of the bank statement on one side, and a view of the check register on the other side, so you can reconcile side by side for what’s cleared by the bank and what’s outstanding? Otherwise how do you what to check off or leave unchecked?

    • @HectorGarciaCPA
      @HectorGarciaCPA  4 года назад

      Justin Sorci that would be awesome, hehe. Just don’t check the ones that are not in the statement

  • @daniloparmegiani
    @daniloparmegiani 2 года назад

    Do you provide one-on-one training or help with setup?

    • @HectorGarciaCPA
      @HectorGarciaCPA  2 года назад

      We do… use calendly.com/qbkaccounting to schedule

  • @jdporco
    @jdporco 2 года назад

    Hector, for payroll transactions coming from Paychex into Quickbooks Online as Journal Entries, how does a proper Bank Reconciliation happen to ensure each individual employee is properly identified?

  • @Maniacdaloc
    @Maniacdaloc 6 лет назад +6

    This really helped me, Mr. Garcia. Keep up the good videos sir!

  • @yoshie7181
    @yoshie7181 3 года назад

    I am getting audited and they want to know why my trial balance ending for the checking account does not match the bank statement

    • @HectorGarciaCPA
      @HectorGarciaCPA  3 года назад

      Maybe it wants reconciled or contains transactions not cleared

    • @yoshie7181
      @yoshie7181 3 года назад

      @@HectorGarciaCPA so essentially the balance sheet balance at YE should match the bank statement balance at YE

  • @darlab.702
    @darlab.702 2 года назад

    Where I work there has not been a reconciliation since 01/31/2013. Needless to say the beginning balance does not match what I have. The owner insists that the account can be reconciled without
    beginning a new QB's. I put in my ending balance and have gone back as far as I have bank statements
    and the account is off by $39,000.00. If it were QB's desktop I could undo everything and reconcile from the beginning to current. But with Online I am not familiar with this program and I just don't have the time to do this involved a project. Is there anyway that I can get rid of the checks never cashed since 2013 and on.

    • @HectorGarciaCPA
      @HectorGarciaCPA  2 года назад

      Don’t delete anything…. You might need to force reconcile based on last tax return and select all the transactions in there and reconcile with the discrepancy. Start reconciling the new year cleanly.

  • @besheeb5516
    @besheeb5516 4 года назад

    Hi Mr. Garcia please help me.
    I am a practicum student right now and i am doing QB
    My problem is that there is already a first person who did the reconciliation of the current year but did not finish doing it. So it will be my turn to reconcile.
    My question is there is a lot missing deposits in the QB reconcile that are not recorded. Should I add them as a record first before reconciling because I have the bank statements but I don’t have the receipts.
    Or should I report them as missing deposits to my supervisor. Please reply if you will see this. It would mean a lot.

  • @MariaMartinez-em4go
    @MariaMartinez-em4go 4 года назад

    It doesn't let me put my begining balance.

    • @HectorGarciaCPA
      @HectorGarciaCPA  4 года назад

      Maria Martinez P&L accounts can’t have beginning balances

    • @MariaMartinez-em4go
      @MariaMartinez-em4go 4 года назад

      @@HectorGarciaCPA i want to reconcile January we just started working with quick books ? But it is not letting me reconcile January it only lets me put my ending balance? I am confused do i have to upgrade?

  • @yvettecisneros4421
    @yvettecisneros4421 4 года назад

    Hi...new to QBO...I have reconciled successfully, however, I have a negative QBO balance. Is this an issue?

  • @nickyhuman210
    @nickyhuman210 5 лет назад +1

    Where do i enter "Please authenticate your login with the unique ID"

  • @raulalvarezmerino9938
    @raulalvarezmerino9938 3 года назад

    Thank You Mr. Garcia,
    I would imagine I should have a copy of bank statement while doing this. I'm new. thank you.

  • @argindavoudi4606
    @argindavoudi4606 3 года назад

    hello Mr Garcia. thank you very much for you valuable videos. I have many questions about my business and how to manage the transactions. I wanted to know if you have consultations for that. Thank you

  • @oniichan7520
    @oniichan7520 2 года назад

    how you get the ending balance at the first place? are you gonna fill it up in any number you want to put it in ?

  • @denniscasinillo2603
    @denniscasinillo2603 3 года назад

    What kind of subscription is this?
    Simple Start
    Essentials
    Enhance
    Plus
    Advanced
    ??

  • @nodeasea4024
    @nodeasea4024 2 года назад

    Hey can we have a schedule time and give me some practical training?

  • @ahmednuman6924
    @ahmednuman6924 2 года назад

    Hector: Your videos are marvelous. I am new to QB online Plus. This version dos not have Direct Invoice to bill your Customer. You have to generate Estimate and convert it to Invoice. Is there a way in which I can Invoice the Customer Directly. You help is highly appreciated.

  • @nannonriechel3179
    @nannonriechel3179 5 лет назад +1

    Thank you for all your videos. I just need to ask if you have a video that explains how to link my expenses to a payment made that was on account?

  • @affebanane3039
    @affebanane3039 5 лет назад

    What does clear in this context mean? Clear like Delet?

    • @HectorGarciaCPA
      @HectorGarciaCPA  5 лет назад

      No; it means when it was cleared through the bank.

  • @kimnoel4708
    @kimnoel4708 6 лет назад +2

    Hi Hector, thank you for your videos. I’m attempting to reconcile my first statement, however after qbo converting my statement from pdf to qbo. I’m noticing that items that should be expenses are converted as deposits and vice versa. How can I make the corrections?

  • @taymaraaguila205
    @taymaraaguila205 4 года назад

    hi Hector! Im trying to reconcile my Bank Account for January 2020, and Im not getting "0", instead, Im getting the beginning balance but in negative amount. I dont understand whats happening. I already reconciled 2019.

  • @larryhurtado5309
    @larryhurtado5309 2 года назад

    Hector, thank you for your videos. I am attempting to reconcile my credit card account, and the ending balance does not match my statement. I believe the transactions are missing. What would be the fix for this?

    • @HectorGarciaCPA
      @HectorGarciaCPA  2 года назад

      You probably need to undo the reconciliations for this year, do a forced reconciliation last year to make it match and then do this year cleanly

  • @arifbharmal
    @arifbharmal 4 года назад

    How different is QB from the US to the UK British versions??

    • @HectorGarciaCPA
      @HectorGarciaCPA  4 года назад

      They are similar, except with anything Tax related of course

  • @ashiquemahmud7775
    @ashiquemahmud7775 3 года назад +1

    Very clear. Thanks

  • @merickong1899
    @merickong1899 4 года назад +3

    Looks like a singer from that view 😅 thanks for all your qbo tips

  • @jeeofalltrades
    @jeeofalltrades 3 года назад

    Wow! This is really helpful! Thank you. I am a new bookkeeper and my client has never done a bank recon before. Also, she just wants me to reconcile the present transactions and not include the previous years since previous years' transactions in QBO are from a different company. Would that be alright? Any suggestions, please?

  • @christopherromero7930
    @christopherromero7930 3 года назад

    Hello Carlos, I am hoping you could help me. When my parents made the business a corporation and they started to pay themselves, she would return the money to her business account. How can i name these transactions on quickbooks. i would do it,because I did not have enough money.

  • @rachelhoustonrda
    @rachelhoustonrda 4 года назад +2

    Clear-cut instructions. Thank you for this wonderful tutorial!

  • @MsSlloyd85
    @MsSlloyd85 4 года назад

    I just purchase Quickbook 2020 Pro desktop, however, I want to add the 2017-thru 2018 bank transactions - how can you do that?

    • @HectorGarciaCPA
      @HectorGarciaCPA  4 года назад

      Sarah Lloyd download them from the bank (if it lets you)

  • @meduriramya4161
    @meduriramya4161 3 года назад

    Hi Hector Garcia, can we get training in person for Quickcooks online. Please let me know. need help for restaurant business in the USA

  • @ljphennis
    @ljphennis 6 лет назад

    Hi Hector, under the Banking Tab, QBO shows a "Bank Balance" amount and a "In QuickBooks" amount. How do I ensure that these two amounts are equal. I thought of reconciling bank statement to reconcile that both balances are equal.For example, if I want to reconcile my bank account from the start of the year - January 1, 2018, but my bank statement's opening date/closing date was 12/13/2017 - 01/12/2018, but I am not capturing December balances in QuickBooks Online. Should I post a reconciling journal entry adjustment between the Opening Balance Equity and the Bank account to ensure that the Bank Balance and the In QuickBooks balance agree? One more question: Under the Banking tab, if I delete Excluded transactions, will that cause the in QuickBooks balance to decrease?

    • @HectorGarciaCPA
      @HectorGarciaCPA  6 лет назад

      Deleting excluding transactions wouldn’t affect balances

  • @wandarobinson6310
    @wandarobinson6310 3 года назад

    Thanks for this useful info for reconciling QB

  • @boffinschist1098
    @boffinschist1098 6 лет назад

    Hector, I have deleted some non-business expenses from the credit card import. I also have split some transactions and the non-business portion can't be deleted. How am I going to reconcile my credit card? Can I add in a single adjustment? I'm told I can remove personal expenses from my reports but I'd prefer if it didn't affect my profit and loss on the dashboard.

  • @jesfinsebastian7125
    @jesfinsebastian7125 4 года назад

    sir i enter write check 600
    and two parties amount this
    actually after reconcilation
    I cant change this
    I try to remove the mark and try it
    how to solve this

  • @gaugegamification4389
    @gaugegamification4389 4 года назад

    Thank you for your help. Your tutorials saved the day.

  • @md.nafeezulkabirnafeez1054
    @md.nafeezulkabirnafeez1054 4 года назад

    Sir,Thanks for sharing this video. I have a question. I am new to QB and maintaining few bank accounts and credit card at a time.i have been working in QB for last three months,so there are lot of transactions of the last 2 years that are yet to be reviewed. so if i need to reconcile suppose for from 1-1-2019 to 31-12-2019, do i need to review like (adding or matching) all those transactions which haven't been reviewed yet? would appreciate your valuable answer.

  • @affebanane3039
    @affebanane3039 5 лет назад

    If Quickbooks tracks everything why should I need to do that? And where is the difference to your second video?

    • @HectorGarciaCPA
      @HectorGarciaCPA  5 лет назад

      Affe Banane to prevent duplicates or missing transactions

    • @affebanane3039
      @affebanane3039 5 лет назад

      @@HectorGarciaCPA can that even happen when I upload all my transactions manually with excel or cv?

    • @HectorGarciaCPA
      @HectorGarciaCPA  5 лет назад

      Affe Banane yes or course

    • @affebanane3039
      @affebanane3039 5 лет назад +1

      @@HectorGarciaCPA what should I do if a transaction is missing? Add it manually?

  • @morai786
    @morai786 4 года назад

    Thank you for the amazing video. Question: When I start to reconcile it shows default payments and deposits to my reconcile window. how do it get rid of that default payment and deposit showing on the summary portion on top of the window?

  • @akandemichael3382
    @akandemichael3382 Год назад

    I started with a company that hasn't reconcile it's account since 2019 when they started. How do I go about this reconciliation? They use Quickbooks online too.

    • @HectorGarciaCPA
      @HectorGarciaCPA  9 месяцев назад

      Probably focus on starting on 01/01/2023 with a forced reconciliation.

  • @marlenmartinez866
    @marlenmartinez866 6 лет назад

    Hello Hector, I have a scrap metal business. I buy material from the public and always pay them by cash. Then resell it for a profit. Sometimes i get paid with check and sometimes cash. I used that cash to keep buying scrap material. How do i record that cash payment in Quickbooks? How do i reconcile if that cash never made it to the bank? Thank You!

    • @HectorGarciaCPA
      @HectorGarciaCPA  6 лет назад

      Marlen Martinez create a bank account called “Cash on hand” and use it to receive customer payments and make expense purchases... at the end that account should match the money in your safe

  • @abemanning3230
    @abemanning3230 5 лет назад

    Hello Hector! Thank you very much for your videos. I learned a lot. Can you please on "Changes" column in reconciliation report? Do I need to check those if there is amount showing there? Where this amount come from? Thank you

  • @VicOrlando
    @VicOrlando 4 года назад

    Mine is a mess from loss of synchronization. What's the best way to get this fixed?

    • @HectorGarciaCPA
      @HectorGarciaCPA  4 года назад

      Start form January, reconcile each month, manually enter missing transactions

    • @VicOrlando
      @VicOrlando 4 года назад

      My shits been messed up for years. What Is in quickbooks is all messed up. Not good

  • @Spenserifically
    @Spenserifically 4 года назад +1

    Very clear and helpful! I'm going to be checking out your other videos -- thank you!!!

  • @thomaswest8587
    @thomaswest8587 6 лет назад

    Thank you Hector for a nice simply and easy to follow video. I have used some of your other videos to navigate through QuickBooks.

  • @LauryDepp
    @LauryDepp 5 лет назад

    I have a question. I have a difference of 12.000 is negative. Does it means I have some deposits that haven´t been registered in my quickbooks¨? when you check the deposits and the extractions in QB the Balance that shows you. ( the one that is in cero) is the subtraction between the deposits and the extractions? Or what is the subtraction QB is doing? to show you that balance?

  • @thinkaboutit7533
    @thinkaboutit7533 3 года назад

    Hi , thanks for the excellent video. I have the correct beginning balance, then I wrote the ending balance from the statement and when I was about to start the reconciliation I noticed the "cleared amount" had the same amount as the beginning balance. There are no marked transactions and there is a cleared amount(??) how do I correct that?

    • @HectorGarciaCPA
      @HectorGarciaCPA  3 года назад

      You need to re-reconcile the first month if the year and start from there

  • @thewealthcoachforwomeninc.4601
    @thewealthcoachforwomeninc.4601 5 лет назад

    I am new to QBO. Do I need to create an invoice for every sale, and do I need to create a bill for every expense?

    • @HectorGarciaCPA
      @HectorGarciaCPA  5 лет назад

      No.. if you got paid already, no need for invoice. If you paid the expense, no need to create the bill

  • @DavidGonzalez-mk6lm
    @DavidGonzalez-mk6lm 6 лет назад

    where can i see ending balance and ending date? im lost

  • @shae4474
    @shae4474 4 года назад

    There is one part I wanted to know that i did not see mentioned. When you go into the next month to reconcile does it take those from the previous month, that you marked cleared, off so you no longer see them anymore? If they are still checked blue and are showing does that mean you did it wrong?

    • @HectorGarciaCPA
      @HectorGarciaCPA  4 года назад

      They should not be there once they are reconciled.

  • @AustinDJones
    @AustinDJones 5 лет назад

    Do you have to reconcile months in chronological order, or will your beginning balance be thrown off?

    • @HectorGarciaCPA
      @HectorGarciaCPA  5 лет назад +1

      Austin D. Jones yes... start with the first month before you last reported period.. like Jan 2018 or Jan 2019

  • @uroospunyali8861
    @uroospunyali8861 4 года назад

    Great Hector, since I have been watching your videos here, I don't enjoy other's videos anymore. Your explanation is clear, precise but also a detail explanative. I have a question, how the register balance would be different than a bank statement. Isn't the ending balance of the bank and register should be balanced? Second question, how do we adjust the unclear checks and undeposited checks? some CPA's make JE's as deposits in transit in the register to adjust with the bank balance. Is that the right method to adjust the bank balance? I shall highly appreciate your answer. Thanks.

    • @HectorGarciaCPA
      @HectorGarciaCPA  4 года назад +1

      You don’t need to enter anything.. the balance sheet (book) balance doesn’t have to match the bank statement

    • @uroospunyali8861
      @uroospunyali8861 4 года назад

      Hector Garcia CPA thank you my friend, but I used to work for CPA Firm few years ago, they used to balance banks statement with book balance sheet, they make JE as deposit in transit of the unclear and undeposited checks to balance with bank statement.

  • @omerinasequera7299
    @omerinasequera7299 4 года назад

    me encnta como das las clase aunque no hablo mucho ingles te entiendo porq esto no lo consigo en espanol lo peor es que pague esta clase nunca me explicaron como tu gracias y dios te bendiga

  • @providencemaefabria571
    @providencemaefabria571 4 года назад

    Hi Hector. Can we reconcile account if we skip a month from the last month reconciled? Please answer. Thank you.

  • @EastCoastWoodworking
    @EastCoastWoodworking 6 лет назад

    Hector, very educational videos on Quick books thank you. Question my company is not tax exempt and I do not charge tax to my customers the question is when I receive and order for innovatory it comes with sales tax I pay to the vendor along with shipping how do I enter the tax? do i make it an expense and label it Sales tax paid in my list of items/ or is there a different way to enter it. Would it be worth while to become tax exempt? Thank you.

    • @HectorGarciaCPA
      @HectorGarciaCPA  6 лет назад

      Gallagher Metal Works add the sales tax to the cost of the product.
      But if you are reselling the product, you should not pay sales tax, as you will charge for sales tax.

  • @bageltownwesthempstead5383
    @bageltownwesthempstead5383 5 лет назад

    Its great how knowledgeable you are in this product. QBO how do I delete a reconcile to do it again. My reconcile says its out of balance but it was good before. something must have gotten added or deleted and I want to just start it over.

    • @HectorGarciaCPA
      @HectorGarciaCPA  5 лет назад

      Only accountants have access to Undo Reconciliations

  • @andrereveille5508
    @andrereveille5508 6 лет назад +1

    Hey Hector, thank you for all your help. This is my first year using QuickBooks and I need to enter my beginning balance, which quickbooks will not let me change from 0. How do I apply the correct opening balance from my bank statement?
    Thank you!

    • @HectorGarciaCPA
      @HectorGarciaCPA  6 лет назад +1

      Just enter a deposit

    • @mayraalonzo4434
      @mayraalonzo4434 6 лет назад +1

      Hector Garcia CPA
      I know this has probably been a while but I have the same question as Andre. What do you mean to enter a deposit?

  • @elmerrocket
    @elmerrocket 5 лет назад

    Hi Hector, I need your help badly. There are transactions in the GL that doesn't appear in the reconciliation, what should I do?

    • @HectorGarciaCPA
      @HectorGarciaCPA  5 лет назад

      Elmer Cuaresma they don’t appear because they are probably already manually cleared on the register

  • @diaasartawi5151
    @diaasartawi5151 6 лет назад

    Hi mr hector , we are in a subcontractor company , my question is which kind of Quickbook is appropriate to our company .

    • @HectorGarciaCPA
      @HectorGarciaCPA  6 лет назад

      Probably QuickBooks Online Plus or QuickBooks Desktop Premier

  • @allisonvo689
    @allisonvo689 5 лет назад

    Hi Hector, which date do I use/enter in QBO to reconcile the credit card account?
    Ex: ending date on credit card statement is 22nd of each month but the business ending date is the last day of each month.

  • @lioness6345
    @lioness6345 4 года назад

    Hi Hector, is there any way to delete a posted reconciliation in QB online?

    • @HectorGarciaCPA
      @HectorGarciaCPA  4 года назад

      You could have an accountant undo a reconciliation

  • @alphonselouis-borgella6440
    @alphonselouis-borgella6440 4 года назад

    can i reconcile without downloading the bank statements from my banking account. Can I do it by manually inputting them while looking at a pdf?

    • @HectorGarciaCPA
      @HectorGarciaCPA  4 года назад

      Manually is fine... it’s just easier with the paper in font of you

  • @uroospunyali8861
    @uroospunyali8861 4 года назад

    Hello my friend Hector, it is my first bank reconciliation in Quickbooks online. My bank reconciliation page does not show the date for transactions. How do I get the date, please help me? Thanks.

    • @HectorGarciaCPA
      @HectorGarciaCPA  4 года назад

      That’s weird.

    • @uroospunyali8861
      @uroospunyali8861 4 года назад

      @@HectorGarciaCPA I don't find the deposit match in bank feed either. non of the deposits match with the bank feed. I really feel need a training session on bank reconciliation in Quickbooks online. Is there any way to get training on the bank reconciliation in QB online, please let me know? I shall highly appreciate it.

  • @cristinamagpantay617
    @cristinamagpantay617 5 лет назад

    How much this QB Online cost?

  • @rbkylebacabis6684
    @rbkylebacabis6684 2 года назад

    why are all people who teaches qbo always ignore the bank balance that shows -3621 ??? why cant anyone explain that sht and just ignores it

  • @FerniiStyle
    @FerniiStyle 4 года назад

    Hi Hector! If I am reconciling a clients books instead of mine do I need their Bank Statements?

  • @littlemanrules1
    @littlemanrules1 5 лет назад

    Thank you so much. I took over my books and your video was very helpful.

  • @berneroldan9751
    @berneroldan9751 6 лет назад

    hi hector,good day..I want to record all my pdc. in what icon do i have to click? pls advise

  • @efc1989
    @efc1989 4 года назад

    I am so happy to have found your channel ! I’ve been watching the QB tutorials through the pro advisor tab but I find they don’t often mention what to do when things don’t match. I have a few clients where the bank balance in QB doesn’t match the bank balance at all & there are no outstanding checks etc, this video gave a great step by step that I can use to identify which transactions might be causing the issue! Subscribing!

  • @adelebouett757
    @adelebouett757 6 лет назад

    I found your tutorials to be very helpful and easy to understand!

  • @jonnatamata4576
    @jonnatamata4576 6 лет назад

    Hector, I could really use your advice. I have a balance sheet that is showing over $650k in the assets column and they were expenses paid out in cash. When I try to create an account for expenses it gives me no options to do other than equity. How do I expense these transactions? I have spent all day on this and would love any advice I could get. Quickbooks told me they couldn't help me. UUUGH!

    • @HectorGarciaCPA
      @HectorGarciaCPA  6 лет назад +1

      Jonnata Mata they can’t help you because that is an accounting question... so I would create a bank account called “Cash On Hand” and make all te expenditures from that account.

    • @jonnatamata4576
      @jonnatamata4576 6 лет назад

      Thank you!

  • @michellepressley9856
    @michellepressley9856 3 года назад +1

    Love the HAT!!!

    • @HectorGarciaCPA
      @HectorGarciaCPA  3 года назад

      Thanks.. i miss it. It got wet a few years ago and hat to throw it away

  • @tsungyin
    @tsungyin 6 лет назад

    How to find and print the bank statement from quickbookonline?

    • @HectorGarciaCPA
      @HectorGarciaCPA  6 лет назад

      Can’t

    • @tsungyin
      @tsungyin 6 лет назад

      @@HectorGarciaCPA I have to get it from my bank? So, what you did is you assume we have it from the bank already?

    • @tsungyin
      @tsungyin 6 лет назад

      So, what you did here is that you assume we have the bank statement from the bank already? Thank you.

    • @HectorGarciaCPA
      @HectorGarciaCPA  6 лет назад

      Tony Chen of course

    • @tsungyin
      @tsungyin 6 лет назад

      @@HectorGarciaCPA I am a new QuickBooks user. What I know about bank reconciliation is from textbook. I reconcile bank statement and my book. This banking in qbo, I don't quite understand. Is this qbo banking the same as the bank statement? If not, then I will have to reconcile 3

  • @cgerwig
    @cgerwig 4 года назад +1

    Thank you so much. I really appreciate your videos!

  • @winniesantos7379
    @winniesantos7379 4 года назад

    Hi Sir, very clear and helpful

  • @usadz1
    @usadz1 2 года назад +1

    Thanks like what u do

  • @margoyoung8140
    @margoyoung8140 6 лет назад

    HI Hector, question we started to reconcile our bank account and after we completed marking everything is when we noticed the bank starting balance is 680.52 off how can we fix that so the next time we reconcile it will be correct?

  • @aurora571000
    @aurora571000 3 года назад

    Love the hat! You should use it all the time!

  • @angelagarine3295
    @angelagarine3295 6 лет назад

    Thank you again..You are a great teacher...

  • @nealkennedy3042
    @nealkennedy3042 4 года назад

    If I started a bank account with X amount during may, and dont make any further transactions other than that opening balance equity transaction, do I wait until June's statement to be released before I perform my first reconciliation? The reason I ask is, when I goto a may reconciliation, it shows a negative beginning statement balance for may equal to the amount I opened to the account with, but my bank didnt even publish a statement for may. Is this what causes the beginning statement balance in the reconciliation screen?

    • @HectorGarciaCPA
      @HectorGarciaCPA  4 года назад

      neal sheusi you need to undo the reconciliation and do it over, there is obviously an error

    • @nealkennedy3042
      @nealkennedy3042 4 года назад

      @@HectorGarciaCPA I did not perform the reconciliation once I saw the negative balance. I think the error is occuring in the checking account. In my chart of accounts, It only shows a bank balance, and not a quickbooks balance. Shouldnt it show that both are equal since I have not made any transactions?

  • @desmondgraham650
    @desmondgraham650 4 года назад

    Have'nt done this in a year, off $32.00 a nightmare finding that

  • @meghapandya8511
    @meghapandya8511 3 года назад

    Thank you for video it helps