Quicken 2009

Reconciling Your Bank Accounts

Reconciling your bank accounts ensures that they accurately reflect all your banking activities. By reconciling your bank accounts, you can catch transactions that you have forgotten to enter or entered more than once. Reconciling ensures that all the data is correct and helps you find out errors.

After you finish updating and accepting transactions into a Quicken account, or when you are tracking a statement which you have received for an account, reconcile your data. You can reconcile all cash flow accounts such as chequing, savings, and credit card accounts.

To reconcile an account:

1. Select an account from the Accounts pane. The account details are displayed in the Activity Center area.

2. Click the Reconcile button.

3. In the Statement Summary dialog box, enter the required information from your bank account (ending balance).

Note: You can, however, reconcile an account from the Cash Flow menu. On the Cash Flow menu, click Reconcile. In the Choose Reconcile Account dialog box, select the account from the drop-down list that you want to reconcile and click OK.

4. Click OK. The Statement Summary window is displayed without any transactions selected. Select each transaction to mark it. To mark all the transactions at a time, click Mark All.

5. Click the Finished button. If the account needs adjustment, the Adjust Balance dialog box is displayed.

6. Enter the Adjustment Date in the field and click the Adjust button. The Reconciliation Complete dialog box is displayed indicating that the items you have marked are reconciled in your register and a balance adjustment is entered to make it agree with your bank statement.

7. Click Yes if you want to create a reconciliation report. The Reconciliation Report Setup dialog box is displayed.

8. Enter a name for the report in the Report Title field.

9. Select the date as of to show reconciliation to bank balance.

10.                In the Transactions to Include area, select either the All Transactions or Summary and Uncleared option.

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