If my cleared balance is 16K and my ending balance is 15k and my outstanding checks = $700, what am I doing wrong? Ending balance equals my bank statement balance..
to reconcile a bank statement, enter the closing balance from the statement into the appropriate field in QB. check to make sure that the beginning balance in QB matches the beginning balance on the statement. if they do, continue. if not, you'll never balance.
now check off all the deposits from the statement into QB. check the total on the statement and compare it to the QB total. they should match.
now check off the checks and payments from the statement into QB. if you have done everything correctly, you should get a difference in QB of 0. complete the recon.
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