Sunday, October 28, 2012

QuickBooks: Bank Reconciliation Shortcut

Bank Reconciliation Shortcut

If you have a large number of checks, deposits and autopay/debit transactions, here is a quick way to reconcile your bank statement ---

  •  Select multiple checks/deposits in one fell swoop.
  •  Sort the screen – hide tx after statement date / by check number (and then resort for the next transaction type as you review the bank statement
  •  Left click on the first check that has cleared, and hold down the left mouse key and drag the mouse down to the next missing check number, according to the bank, and release.
  •  As you go down the list, all the transactions will be selected.

CAUTION! If you only look carefully at the beginning and ending numbers, you could miss some very important clues to some problems! For example, if the series starts with 6559 and ends with 6759, you may be tempted to find the beginning and the end, and select all in between. But, there could be some missing checks (Heaven forbid!) that weren’t entered into QuickBooks or there could be duplicate check numbers that will throw your bank reconciliation off.