Category Archives for Bank Rec

Lucky Number 3? | Three-way Trust Reconciliation

 In the world of trust accounting, Law Firms and Attorneys are expected to have their client & trust ledgers reconciled monthly as well as their trust bank account reconciled in a timely manner too. Those who don’t follow the rules are gambling with their peace of mind. You may be hoping you won’t suffer the […]

Continue reading

Year-End processes for QuickBooks Online – Part 1

Year-end processes QuickBooks

Note:  This is a repeat post from 2018.  I am still taking a holiday break from posting my weekly blog.  We have so many more cool tools for doing this year-end work now!  We have the insights page and we now we have bookkeeping review!  But while the process may be different (easier) with the […]

Continue reading

Reconcile a Credit Card with Sub-Accounts in QBO

Reconcile a credit card with sub accounts QBO

Reconcile a credit card with sub-accounts is a bit tricky. It’s one of those transactions that you may not discover you didn’t do exactly right until you hand your records over to your tax professional at year end. He or she may look at the records and say why are the balances so weird or messy? And […]

Continue reading

Bank Balance Errors – Fixing them in QBO

Bank Balance Errors

Bank Balance Errors are how I first meet a lot of my customers.  They get frustrated and cannot figure out how to fix the file.   They want to continue to reconcile it, but they can’t.   This post and accompanying video below will walk you through the process.  There are lots of ways the […]

Continue reading

Fixing credit card balances on QBO

fixing credit card

Fixing credit card balances to show properly on a balance sheet is one of those chores I do monthly to tidy up the books.  It is something I see time and time again when the credit card account has several employees included in the one statement.  Many times the accounts are set up accurately, but […]

Continue reading

Beginning Balance is off QuickBooks Online

beginning balance

Beginning Balance off?  Do you see that yellow warning, “Hold off.  Your bank account is not ready to be balanced yet?” How do you get the correct beginning balance? You think to yourself, “I don’t remember changing any cleared transactions? How can it be off?”  And then you think, “How the the heck to I put […]

Continue reading

Correct beginning balance in QBO

correct beginning balance

Beginning Balance off?  How do you get the correct beginning balance? You think to yourself, “I don’t remember changing any cleared transactions? How can it be off?”  And then you think, “How the the heck to I put it back?”  Do you need these binoculars to search for the answer????Correct Beginning Balance:  Find your differenceSo […]

Continue reading

New Reconcile Feature in QuickBooks Online

new reconcile feature

The new online bank reconcile feature has nothing to do with the moon. But I could not resist showing the moon today.  It is the USA Total Eclipse day.   Although we don’t have much to view down here in SW Florida.  It looks like just another cloudy afternoon just before the summer rain storms roll […]

Continue reading