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    Bank Account Reconcilation
    #1
    Phil Ventresca Guest
    I use Quickbooks Pro 2004.

    I have an operating account and a payroll account, both with the same bank. I use a payroll service and only need to transfer funds between the operating and payroll accounts.

    I haven't reconciled either for several months. Quickbooks Pro 2003 had a reconciliation feature but that really only reconciled the check register, within Quickbooks. But, that's all I did for several months.

    So, my situation is that I used the Quickbooks Reconciliation feature for several months; then used nothing for several more months.

    I really need to reconcile my bank accounts. The right way --- using bank statements. My bank now offers a service that'll allow me to download information to Quickbooks. I haven't tried it yet.

    Can anyone give me suggestions for the best way to get my accounts reconciled. Am I looking at reconciling each statement? Or can I reconcile by going back to the last statement I think was right; use that as the opening; and use my last statement as the close?

    Or, what other suggestions do you guys have?
    Phil


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    Reconcile
    Hi, Phil ~

    Unfortunately, the best way to approach the reconciliation of your accounts is to go back to the month you first stopped reconciling and start again. It may seem overwhelming. Do one month at a time and only do one or two at a time. Taking it in pieces will make the project more manageable.

    If you need help or have questions, please feel free to email me off board.


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    Well, it is important to know that this process is complex. You need to figure out how to go about this one. - Marla Ahlgrimm


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    A bank reconciliation statement is an outline of banking and business action that accommodates a substance's ledger with its monetary records. The statement diagrams the stores, withdrawals and different exercises influencing a ledger for a particular period.


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    I suggest you to move on QuickBooks Online. Where you can start syncing your Banks, Credit Cards, and PayPal with QuickBooks Online. You don't need to import anything manually. So your all data entry work will be ended. You don't need to worry about historical data. We are able to migrate QuickBooks Desktop data into QuickBooks online. So try it one time and I am sure you will keep it up.


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    You invest in a mutual fund, you put your funds in a pool of shares. In doing so what is the primary difference between index funds and actively managed funds? you purchase the units or shares of the particular fund. Similarly, as more investors are investing, the fund raises its units or shares.


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    thanks for sharing with us


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    thanks for sharing with us


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