What is Bank Reconciliation in QuickBooks: Why & When to do it?

A bank-reconciliation in QuickBooks is an electronic balancing of your company bank accounts, such as checking or savings accounts. A reconciliation matches items you enter into QuickBooks software with items that physically clear your account. It is important to perform this function to catch any transactions that may not be listed in QuickBooks. Many small-business owners use the running bank account balance feature in the QuickBooks software. If your actual bank balance doesn’t match your QuickBooks balance, you may issue payments for expenses that your company doesn’t have the funds to cover.

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