Whether it's improper input of transactions, missing credits and debits or an incorrect ending balance, a myriad of things cause discrepancies between your actual bank balance and the one QuickBooks Online reports (the one Malartu retrieves). A few dollars off here and there may not seem like a big deal, but even small inconsistencies can cause major issues when it's time to to compile monthly and annual reports such as balance sheets and profit and loss statements. QuickBooks Online provides a simple process to reconcile your bank balance to reflect the real numbers.
- Click the bank account you'd like to adjust the Quickbooks balance for.
- Click "Go to Register" above the top right corner of the ledger.
- Click "Reconcile" in the top right corner of the page.
- Enter the statement ending date of your most recent bank statement and enter the ending balance from that statement.
You should reconcile your accounts each month to ensure accurate reporting.