To reconcile credit cards in QuickBooks Online, gather your credit card statement, then match each transaction in QuickBooks to those listed on your statement. This process helps you verify accuracy, detect missing or duplicate entries, and maintain precise expense records. Whether you’re managing supplier payments or tracking business purchases, reconciling your credit card ensures your financial data stays error-free and aligned with your bank’s records.
To start, get your latest credit card statement from your bank or card provider. You’ll need:
Example: If your credit card statement shows an ending balance of $2,500 as of September 30, that’s the balance you’ll enter in QuickBooks to begin reconciliation.
This ensures you’re matching the correct period and balance for accuracy.
QuickBooks will display a list of transactions recorded during the statement period. Your goal is to ensure each transaction matches one from your credit card statement.
How to do it:
Pro Tip: Sort transactions by date to quickly identify missing or duplicate entries.
If a charge or payment appears on your statement but not in QuickBooks:
Example: Your statement shows a $250 payment to a supplier not recorded in QuickBooks. Add it manually under Expense → Payee: Supplier Name → Amount: $250 → Payment Method: Credit Card.
At the bottom of the reconciliation window, QuickBooks displays a Difference field.
Use the Reconciliation Discrepancy Report to identify where issues occurred.
Once the difference is zero:
Tip: Regularly reconciling helps you catch unauthorized charges early and maintain accurate expense tracking.
If you process payments online, DepositFix integrates with QuickBooks to automatically record transactions and deposits. This eliminates manual data entry, reduces errors, and speeds up the reconciliation process.
With DepositFix, you can:
This automation ensures your books stay up to date, without the hassle of manual reconciliation.
To undo a reconciliation in QuickBooks Online, open the Reconcile tab, select the account, and choose Undo or manually clear “R” marks in the register.
To reconcile in QuickBooks Online, match your bank and QuickBooks transactions, fix discrepancies, and confirm balances for accurate financial records.
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