QuickBooks Online Adjusting The Bank Reconciliation

In This QuickBooks Online Video tutorial, you will learn when it is appropriate to adjust a bank reconciliation to make it fit and match. The only time it’s appropriate to adjust the bank rec is the first month you do bank reconciliation. That’s because sometimes it’s not possible to know the “book” balance or what the book balance would have been at the beginning because you did not start reconciling at the moment you started using the bank account in QuickBooks Online. In fact, it’s actually called a “beginning balance” adjustment for people to know that you should only adjust to make the beginning balance correct because you only found out what the beginning balance really was after several months of outstanding checks clearing the bank account. Sometimes, you can get away with adjusting the bank rec if the difference is immaterial; but you cannot make that judgement without consulting your accountant This video is only 1 chapter in the whole QuickBooks Online For Bank Reconciliation. The full course complete tutorial and updated version is here………..    • BANK RECONCILIATION FULL COURSE   This QuickBooks YouTube Playlist will make you an expert in bank reconciliation in QuickBooks online. It starts with basic bank reconciliation concepts and builds slowly to make you an expert in the bank rec process. Do This faster And Easier””    • Import Transactions Complete Tutorial Quic...   It will give you real-life, hand on practice with actual bank reconciliation problems and solutions for anything that could come up when doing any company’s bank reconciliation in QuickBooks online. Have a great time learning basic accounting from Serina!!    • Accounting For Slow Learners   Every “on the job” challenge is addressed by demonstrating all bank reconciliation features and how they are used in QuickBooks online. The very last part of this playlist has videos that show how to prove that absolutely any type of company’s financial records and business transactions are correct to the last detail. These accounting concepts and auditing principals will hold true for any accounting software the business would use. 👉Search the Full QuickBooks Library (Our YouTube Channel Page): http://bit.ly/thequickbooksdude If you love these videos, you can help us make more and help more people by joining with a donation of $5. You will get exclusive access to members only videos and can participate in any future podcasts or live streaming events.    / @worldwidequickbooks   ➡Follow us on social media:   / certifiedquickbookstraining     / quickbooksforlandlords   Mark Smolen is a certified instructor and the creator of the QuickBooks Instructional YouTube Channel and Website. ➡Get In Touch Today Have a question or need help with your QuickBooks Instructional Course? Contact Mark directly. https://marksmolen.com https://quickbooksforlandlords.net #quickbooksonlinebankreconciliation #quickbooksonlineadjustreconciliation #quickbooksonline beginingbalanceadjustment