QuickBooks Credit Card Reconciliation Problem. Fix the issue with these steps.

QuickBooks Credit Card Reconciliation Problem. Fix the issue with these steps.

QuickBooks Credit Card Reconciliation Problem

If you are facing QuickBooks credit card reconciliation problem then this article if for you. Credit Card Reconciliation is the process to balance the transactions that is entered in QuickBooks with your bank or credit card company’s records. It is advisable to reconcile your bank and credit card accounts in QuickBooks on a regular basis to ensure the accuracy of your accounting records. The reconciliation process helps to make sure of:

Are you a Quickbooks user?
  • Your entire transactions (like payments, deposits and bank fees) are accounted for in QuickBooks.
  • Your complete transactions on QuickBooks bank register and its ending balance, balances with the actual amount in your bank account.

Work before Quickbooks Reconciliation Process.

  • Back up a copy of the company file needs to be created.
  • Setup the bank or credit card account in QuickBooks with the correct opening balance.
  • Mention all the uncleared transactions for the statement period.
  • Received a copy of your bank or credit card statement.
  • Mark the selected items on your statement that will help you keep things organized.

QuickBooks Credit Card Reconciliation Problem: The Process

If are not able to solve your QuickBooks credit card reconciliation problem then you can dial the number above for instant help. With that said here is the solution to your query:

There are two screens that you encounter to carry on the reconciliation process:

  • The Begin Reconciliation Screen
  • The Reconcile Screen

Begin Reconciliation Screen

This is the screen to start the reconciliation where you choose the account to reconcile and review the information related to the account such as the beginning and ending balance as well as the statement date etc. Ensure that all the information in this screen is accurate then only you can proceed to the next step.

  • Go to the Banking menu & click Reconcile tab.
  • Select the credit card account you would want to reconcile.
  • Now you will find that the statement Date is automatically filled in.
  • The starting balance fills in automatically. It is the sum of all previously cleared transactions. Verify if it is similar with the opening balance shown on your statement. If mismatches check reconcile window starting balance is zero or incorrect for more information.
  • In the Ending Balance field, enter the ending amount.
  • Supply the amount of the Service Charge & Interest earned.
  • Select Navigate Discrepancies to view available reports.
  • Click the Undo Last Reconciliation button if troubleshooting requires you to revert to the previous reconciliation.
  • Undo last reconciliation is needed when you cannot locate discrepancies during reconciliation.
  • Verifying that the info and click continue to proceed to the Reconcile window.

The Reconcile Screen

The reconcile screen helps you to refine the choices you want to match against your bank statement. This screen allows selecting transactions and clearing them. If this reconcile screen displays a zero difference after you select all transactions that appear on your statement, then on just clicking the Reconcile button and you are done with the process of reconciling the account.

Other options you can look for:

  • Hide transactions after the statement’s end date
  • The transactions entered in QuickBooks are divided into two sections – the Checks and Payments (Money out) and Deposits and other Credits (Money in).
  • Items (total amount of checks and deposits) you have marked cleared.
  • Mark & Unmark All button either to select/deselect transactions.
  • Go to and click the button to open (and edit) the transaction from the reconciliation window.
  • If the account you are trying to reconcile is setup for online banking, click the match button to auto- select the transactions that were downloaded and auto-matched.
  • Columns to display help you to choose the fields you want to see.
  • Modify button helps you for the last minute changes on the information entered in the Begin Reconciliation screen.
  • This section provides you with a gist of the reconciliation figures.
    • Service Charge, Interest Earned, and Ending Balance are based on the amount you entered for these fields in the Begin Reconciliation window.
    • Cleared Balance decreases your amount of checks and payments and increases as you select/clear deposit and another credit amount.
    • The difference between the starting balance you entered and the cleared balance ideally should be zero.
  • Leave button takes you to go out of the reconcile window to work on another account or to edit transaction.
  • Once you are done with selecting the entire transactions click Reconcile Now button.

Even after following the steps recommended for QuickBooks credit card reconciliation by Intuit, still, you are having any kind of technical or functional contact QuickBooks customer support immediately. The QuickBooks expert ProAdvisors will provide you instant resolution so that you can resume your work hassle free. The experts are approachable via various modes of phone support, email support, live chat etc. Thus feel free to get in touch with us.

Still in Doubt…!

Request a Call Back

Talk to our Quickbooks Proadvisor and resolve your issue over a phone call.

We gaurantee 100% satisfaction

You can even give us a call at our Quickbooks support Phone number fror Canada, USA and UK at ✆ +1800-940-7442 and talk to our Proadvisor now.


Related Articles:


Report Your Issue

(Didn't find what you were looking for! Report your issue and get customized help from our QuickBooks experts.)

QuickBooks Version:
Edition Year:
No of User: Licence
HELP Needed:
Name:
Phone:
Operating System:

What is Qbpro?

We are a Quickbooks consulting firm that takes care of all the issues that people might ever face within the program. If you are using Quickbooks and are continuously faced with bugs then we are here to resolve. You can connect with us for errors related to Quickbooks, Technical issue or Accounting Issues within the software. Get in touch with us via:

What Our Clients Say...

Here is what people have to say about us.


Countries We Serve:

Though we serve throughout the world but our clients majorly comes from Canada, USA, and the UK.


Leave a Reply

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

Contact Me

Leave a Message

Disclaimer: QBpro.ca is a reputable QuickBooks® Consulting firm that provides professional support services related to your accounting software. It is also a front-runner in providing 3rd party technical support services for quickbooks.

Canada

"Find QuickBooks proadvisors to help you in Canada"

Get our help for

quickbooks canada support quickbooks canada quickbooks online canada intuit canada quickbooks online canada login quickbooks online login canada qbo canada intuit canada login quickbooks login canada intuit tax canada intuit canada contact Quickbooks proadvisor support phone number canada intuit turbotax canada qb online canada quickbooks canada login quickbooks canada support quick books canada intuit quickbooks canada quickbooks canada online quickbooks payroll canada quickbooks enterprise canada intuit canada support

Still facing issues

Get Help For Your QuickBooks Accounting Software

Resolve your every issue on a
Free 30 minutes call

Enter your details to get a cheat sheet of 96 awesome tricks to use Quickbooks like a pro.

We hate SPAM and promise to keep your email address safe.

Get FREE 30 minutes, Resolve your issues now!

Call Now: 1-800-940-7442