Here’s my check in the background waiting for me to okay it. I do have the option (just like we talked about before) to do the summary or the detail or both. And then, it’s going to pop up and ask me if I want to print any of the reconciliation reports. We’re going to go ahead and write a check now and click OK. Because at this point, all the expenses have gone to the correct accounts based on the fact that you put them in individually. Would I like to write a check or enter a bill and pay it later? It’s okay to enter the bill this way.
I’m going to go ahead and click Reconcile Now. It’s going to pop up and ask me if I’d like to go ahead and make a payment now. And then, you can go ahead and fix those the way you know you’re balanced is (if your difference in the bottom right is zero). If you see something, not on the statement, it might clear next month.īut, keep an eye out for things that maybe you’ve duplicated or that never show up. I’m going to check them off if they’re on the statement. I’m going to hit Continue and now I’m going to see a list of all my transactions that are on this statement. Also, make sure you have the correct class chosen if you’re using the class feature. They have the main account as an expense account called, Interest Expense. Underneath it, are two subaccounts for finance charges and loan interest (this would be your finance charge). If you notice, they’ve got this set up in a really good way. The account you’ll want to choose is going to be finance charges. That’s certainly okay! Just don’t put it in both places or you will have doubled that number. Some people actually put their finance charges in as a separate transaction. You’ll also need to put in your finance charges. You will need to type in your ending balance that will come from your statement. And then, come back in and continue reconciling. Just go ahead, get out, and figure out what you did wrong. If you balanced last month, then, this month should be the same number. If it doesn’t, just go ahead and change it here.Īlso, make sure you’re beginning balance matches. You’ll want to go ahead and double check the statement date (make sure it matches what’s on your statement). Just like we did back in module seven, we reconciled our checking account.įrom the Home screen, I’m going to choose Reconcile. And then, it’s going to ask which account would I like to reconcile. Once you have your credit card statement, you’ll want to go ahead and reconcile it.
#HOW TO ENTER EXPENSES IN QUICKBOOKS DESKTOP PRO 2019 HOW TO#
Now, we need to talk about how to reconcile those credit card statements (when they come in the mail) and how to make a payment on the credit card. We’ve already talked about how to set up those credit card accounts in the Chart of Accounts. We learned how to enter the credit card transactions. We are working in module nine and we’re talking about working with credit cards. Power Pivot, Power Query and DAX in Excel.
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