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Reconciling credit cards in Quickbooks is not only important for keeping accurate records and tax returns but can also help track misuse of your card. By manually checking off each transaction, you are verifying the charges. It only takes a few minutes each month and ensures your finances are accurate. |
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Step 1 Open Quickbooks and select the "Banking" menu and then "Reconcile." A new window will appear. Choose the credit card account you want to reconcile. Step 2 Gather your credit card statement(s). Locate the ending date on your statement and enter it into the "Statement Date" field. The account's opening balance on your statement should match the beginning balance shown. (If the account has not been reconciled before, you will need to start with the first statement and reconcile one statement at a time.) Enter any service charges, finance charges or interest from your statement. Find the ending balance on your statement and enter it. Click continue. Step 3 Reconcile the transactions. Match each transaction from your statement to the transaction list on Quickbooks. Place a checkmark in the checkmark column for each transaction that matches. When you are finished, the difference should be $0.00. If it is not, you can go through the transactions again and find the error or enter an adjustment transaction to balance the account. When you are finished, click reconcile. |
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