The most common bank reconciliation mistakes can be identified and fixed. Bank rec problems can be easily solved if you learn the QuickBooks Online techniques and methods of finding and fixing bank errors and bookkeeper omissions and mistakes right here in this complete tutorial. Even the worst transaction mistakes can be revealed by the bank reconciliation process. It’s designed to find and fix all types of data entry and bookkeeping errors and that’s what you will see here.
The bookkeeping mistakes you can see, are the transposed numbers, the change column wrong and transposed transaction number (check number) with transaction amount.
The data entry mistakes you cannot see are clearing the wrong check of the same amount and
Bank Rec issues happen to every company at some point, proving mistakes and data entry problems are bound to happen. This video will educate and prepare you to look out for any obstruction to finishing your banks reconciliation process and finishing with zero difference.
All of them are addressed in this QuickBooks online class. Once you master these mistakes, you then have mastered bank reconciliation in QuickBooks online.
Table Of Contents:
00:00 Introduction To Most Likely Bank Rec Mistakes
01:59 @ Different Kinds Of Mistakes
02:35 Mistakes Your Eyes Can See
05:20 Reconciling A Mistaken Bank Statement
08:45 Reconciling The Corrected Statement
16:50 Mistakes Your eyes Connot Readily See
17:01 Clearing The Wrong Check
22:34 Using he Register To Find Uncleared Checks
24:08 Searching Inside Your Bank Account For Cleared Checks
This video is only 1 part of the full bank reconciliation course right here on YouTube.
You can follow along with me, step-by-step, if you have completed the full bank rec playlist course here.
Link To Bank Statements
You can download and follow with me step-by-step.……………..
You Should also know how to download and import; it will help you
These videos are part of the complete learning series that’s free, here on YouTube, that teaches everyone, everywhere, everything about QuickBooks Desktop And QuickBooks Online
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#bankreconciliation #commonmistakes #bankerrors
Hello my friends!
Ou will be the most important person in the company if you can make your bank reconciliation work by finding and fixing all the common transaction mistakes. This video with show you how to more easily fond both transaction mistakes AND reconciliation mistakes. Once you get in the habit of looking for what will be shown in this video, you will be able to fix any reconciliation that does not balance out to zero difference. You will therefore be a hero to the accounting and bookkeeping people who need the bank rec to work. I made it sesame street easy so you will always have this power with you if you ever need it.
I hope you will click “like” and subscribe.
-Mark
24:58 You're a big liar 😅,
Although, Thank you for the video Mark
I’m still stuck with QB desktop, but I enjoy watching your videos!
The mark is just awesome.