Advertiser Disclosure

Get a free credit card reader from Square today!

How To Reconcile A Bank Account In QuickBooks Pro

  • 2 comments
  • Updated on:
Advertiser Disclosure: Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity.
Chelsea Krause

Chelsea Krause

Managing Editor - Accounting
Chelsea Krause is a writer who has specialized in accounting for over three years and is a QuickBooks Certified User. She has a BA in English & Creative Writing from George Fox University and studied at the University of Oxford as well. She has been quoted in Forbes and her work appears in Startup Nation, Small Business Bonfire, and Women on Business.
Chelsea Krause
Leave a comment

2 Comments

Responses are not provided or commissioned by the vendor or bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the vendor or bank advertiser. It is not the vendor or bank advertiser's responsibility to ensure all posts and/or questions are answered.

    Kristin

    You note that when matching transactions the check date on QB will be different from the check date on the bank statement and that is okay. However, is it still okay when you cross over a year end? I use cash basis accounting and have the following situations that i’m Not certain how to handle :
    1) I have checks that I cut in 2017 but don’t show in QB because they have not been cashed. Does this effect accounting? I want to now enter these checks so they aren’t forgotten about and am not sure what date to use or if it matters 2017 vs 2018?
    2) I have a check that was written in 2017 but not recorded in QB. This check was lost and needs to be voided and reissued. Again, i’m Not sure what date to use to enter the original check to void or what date to use for the reissued check?

      This comment refers to an earlier version of this post and may be outdated.

      Chelsea Krause

      Hi Kristin,

      Thanks for reaching out! In this case, I would definitely contact an accountant for the most accurate information and instructions, though I’ll try to help as best as I can.

      For your first question, since you’re using cash-basis accounting, you recognize income when your customers actually pay. In the same way, you recognize expenses not when you send the check, but when they are actually cashed, so it’d count as a 2018 expense, not a 2017 expense. Here’s an article from QuickBooks that explains this concept a bit more: .

      For your second question, you can create a check using the 2017 date, save it, and then void the check within QuickBooks. Then, when you reissue the check, you can create a new one using the 2018 date (add if you want to remember that it’s a reissued check, you can note that in the memo of the new check).

      Again, I’d double check with your accountant as they know the best methods for closing the books at year end, but I hope this helps!

      Best wishes,

      -Chelsea Krause

        This comment refers to an earlier version of this post and may be outdated.

      Leave a Reply

      Your email address will not be published. Required fields are marked *

      Your Review

      Comment moderation is enabled. Your comment may take some time to appear.
      Please read the "User Review and Comment Policy" before posting.

      Share

      Featured Offer: We Recommend QuickBooks 🎉

      Take QuickBooks Online for a spin with a free trial!

      Try QuickBooks Today

      Learn More About Our Top Pick 🏆

      Lightspeed is an iPad POS perfect for retail and restaurants!

      Visit Lightspeed to see all the features you're missing!

      Learn More At Lightspeed

      Want To Find The Perfect Business Credit Card For You? 🎁

      Check out our partner CardRatings to find the right card for your credit score!

      CardRatings will help you filter your card options and make comparisons. 👌

      Compare Your Options

      At CardRatings

      Learn More About Our Top Pick 🏆

      Lightspeed is an iPad POS perfect for retail and restaurants!

      Visit Lightspeed to see all the features you're missing!

      Learn More At Lightspeed

      Learn More About Our Top Pick 🏆

      Lightspeed is an iPad POS perfect for retail and restaurants!

      Visit Lightspeed to see all the features you're missing!

      Learn More At Lightspeed

      ⭐️ Want To See What A 5-Star Company Looks Like? ⭐️

      Check out BigCommerce to power your eCommerce platform!

      BigCommerce offers a one-stop-shop for all things eCommerce. 👌

      Learn More

      At BigCommerce

      Featured Offer: Need Help Picking the Best Lender? 💵

      Lendio is a marketplace service that provides multiple custom quotes side by side!

      It's free to use! Try it out and find the best rate today. 👌

      Sign Up At Lendio

      Featured Offer: Need a User-Friendly POS at a Reasonable Price? 💵

      ShopKeep is an iPad POS perfect for small businesses!

      Get a demo today! 👌

      Learn More At ShopKeep

      Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity. The editorial content on this page is not provided by any of the companies mentioned and has not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are author’s alone.