Having a problem reconciling your credit card?

Just recently, I was asked to help someone with reconciling their credit card account in Quick Books.  They had reconciled to the credit card statement as usual, but when they printed off the details, they also had the previous month’s transactions on the report. 

So what had they done wrong?  Simple, they had clicked on the ‘undo last reconciliation’ button by mistake.  So basically they had to reconcile the previous month again, and now everything is correct in their books. 

A bookkeeping tip – look at the transactions listed under your credit card.  If there is a check-mark next to the item, it has been cleared.  If there is this symbol * next to the item, it hasn’t yet been reconciled.  

A bookkeeping tip…

Just made a purchase for your business?  Make a note on the receipt which expense account it relates to. It makes life so much easier when the time comes to entering the transaction into your books, no more scratching your head trying to remember what the purchase was for!

First Blog Post

Here is your first post. Inside here you should include Keywords that are bold as well as tags down on your right when you are Editing the page for Grand Bookkeeping.