Hi Hector. i am teaching myself Quickbooks and your videos are exactly what i needed. i can really relate to your lingo keep the videos coming i find them invaluable.
Hi Hector, your videos have changed the game for me in QB, Thank You. In your video at 5:05, on 07/04/2017 there are two expenses from Hicks Hardware. One matched from bank statement and the other maybe a receipt uploaded separately. How do you combine both of those in 1 so the receipt and the one with the clear date both match? Thank you, I watched all your reconciling videos to try and find the answer.
@@HectorGarciaCPA If I choose to create an expense from a receipt (since I don't see any proper amount to make a match), will an expense get matched when I go to the banking tab (after my bank account has registered the expense?) ?
We started a non profit Co. this year. We have one account in US dl and one in Ca dls, my home currency is in Ca dl because the Co. is Canadian. But I receive payments in the US dl account (mostly via transfers). From this US dl account we make payments (in US dl) and transfers to the CA dl account to make payments in Ca dl too. Do I have to use multicurrency? do I have another option to avoid using muticurrency? As you can see both accounts (US Dl and Ca Dl are linked) and my reports and transactions must be in CA Dl.
@@HectorGarciaCPA But I found one of your videos about multicurrency back on 2016 and you mentioned that you will make more in deep videos about this topic. Do you have more material about this? Regards Maria.
Hector, do you have a video on one who is just getting back to accounting and Quickbooks and their client drops off all their paperwork from Sept 2019 (he started his company back then) to date. He wants everything reconciled (and I am just relearning this system). What would you do first? I feel like adding in all the years receipts/expenses on his credit card and a few invoices (he does not have a lot of work re: covid ) =( He has bank loans and that kind of baffles me. Lots of transfers in his bank via e-transfer. Would appreciate your feedback and maybe you do need to make a video for those people that are coming back into the accounting mix. Thanks, I have learned so much from you already!!
Help please i'm going crazy trying to figure out why my business credit card wont reconcile correctly to zero. Its 5 credit card payments from my business checking to my business credit card. when i highlight the 5 charges with the little checkmark instead of the totals going down they go up..But when i add all 5 charges up it equals the exact amount needed to get to zero? So its backwards it seems? So statement balance - clear balance = the same number but its doubled
Hello Hector, I am reconciling a credit card statement and would like the correct procedure at the end when the month reconciles. It asks "pay all or a portion of the bill now" or "enter a bill to pay later", I have always skipped that step and have ton's of outstanding entries but have unreconciled all of 2020 for other reasons and would like to do it the correct way according to you .
Hi, So This means f can reconcile even though there is no clear date or a green box? this gets confusing, I want to say thanks for your amazing videos so helpful.
Hi, thanks for the video, I have a question do I need to have bill enter for each bank transaction to match, I am working with the owner who pays bills by bank and CC and sometimes does not provide the invoices for me to enter to QPO.
question. before reconciling what records are suppose to be matching to the bank statement. I put in expenses from receipts of purchases so that is what is logged. If they were paid by CC and the CC is paid in a lump sum, how do I separate this from what I have logged as expenses. Im having a hard time to understand reconciliation.
I do not understand this if your ending balance, is -209.48 ( 5000 - 8480.83 +3,271.35) why your difference is 0 ??? What is the subtraction that QB is doing?
Hi Hector, I subscribed your page. Recently I added credit card account to QB. Before I made credit card payment through one of the bank a/c. which is already linked with Quick books. Now my question is how can I match these two transactions in my bank it is showing as spent and under credit card showing as received. I matched the transaction in this way under expenses created check under payee given the credit card holder name and in bank a/c column from which bank a/c under category I selected the credit card and given the amount in the particular column. Thus the transaction matches both the bank a/c and credit card also. But whatever paid amount shows in banking tab under credit card remaining balance and quick books paid amount in -value.
@@HectorGarciaCPA Thankq so much.. still now I didn't add any of my credit card transactions to QB. Payment of credit card transactions through record transfer shows my QB balance as negative balance . I think I need to add all the transactions of credit card. First time I'm doing this your suggestion is more valuable to me.
Hello Hector ! Thank you for your amazing videos. What my register is balanced and matches my bank statements, but is QB shows a different amount and unable to reconcile? I believe the statement ending balance is incorrect. Thank you, how do you find where the statement ending balance is entered?
Thanks for you for these Online Tutorials. I am going through the transition of moving some of my bookkeeping clients from the desktop version to online. One thing I am having trouble with is the reconciliation with one client. They write as many as 300 checks per month and when reconciling, if I have to change a check amount, when I go back to the reconciliation, it takes me back to the top of the page. Is there a setting to allow me to continue where I left off?
what if you started entering your banking transactions manually, then later download from the bank. Will it duplicate everything? Should I delete what I have entered and start fresh?
Hi Hector I have a doubt, in reconciliation recently I have connected the credit card to QuickBooks online now I have to reconcile the credit card. Still now I didn't enter any of the transaction of credit card in quickbooks. But, opening balance show as 0. Once I enter all the transactions in quickbooks and match them accordingly then my opening balance will change? Please clarify my doubt.
Hi Hector. i am teaching myself Quickbooks and your videos are exactly what i needed. i can really relate to your lingo keep the videos coming i find them invaluable.
Thanks.
This was so helpful!! I just switched to QBO from Desktop -- your video was very clear and informative. Thank you!!
Good!
Thanks a lot Mr. Hector, I am new in QuickBooks after see your video I seem easy to me
Love this Hector, your videos are great for a new person.
Otis Fitz great!
im curious about ending balance 7:01 the ending balance is 209.48 while you put it in the ending blance is 3700 ? how was that
??
Great info. You do a good job of making QuickBooks understandable. .
Jan Mayberry Thanks and glad you like it!
A great video for beginner.
Thanks!! Gave me hope that I can use quickbooks.
Good!
Hi Hector, your videos have changed the game for me in QB, Thank You. In your video at 5:05, on 07/04/2017 there are two expenses from Hicks Hardware. One matched from bank statement and the other maybe a receipt uploaded separately. How do you combine both of those in 1 so the receipt and the one with the clear date both match? Thank you, I watched all your reconciling videos to try and find the answer.
You should match the receipts FIRST, then you will see the transaction matched on the banking side
@@HectorGarciaCPA If I choose to create an expense from a receipt (since I don't see any proper amount to make a match), will an expense get matched when I go to the banking tab (after my bank account has registered the expense?) ?
thanks Hector. Good details to know as I go about learning this software.
Excellent videos! They are a great resource especially combined with the pro advisor training
:)
We started a non profit Co. this year. We have one account in US dl and one in Ca dls, my home currency is in Ca dl because the Co. is Canadian. But I receive payments in the US dl account (mostly via transfers).
From this US dl account we make payments (in US dl) and transfers to the CA dl account to make payments in Ca dl too. Do I have to use multicurrency? do I have another option to avoid using muticurrency?
As you can see both accounts (US Dl and Ca Dl are linked) and my reports and transactions must be in CA Dl.
Lourdes Alvarez i don’t support multicurrency , I recommend to hire a consultant that does
@@HectorGarciaCPA Is there a way to avoid using multicurrency?, taking into account that I have to use both accounts (US Dl and CA Dl) for payments?
@@HectorGarciaCPA But I found one of your videos about multicurrency back on 2016 and you mentioned that you will make more in deep videos about this topic. Do you have more material about this? Regards Maria.
Hector, do you have a video on one who is just getting back to accounting and Quickbooks and their client drops off all their paperwork from Sept 2019 (he started his company back then) to date. He wants everything reconciled (and I am just relearning this system). What would you do first? I feel like adding in all the years receipts/expenses on his credit card and a few invoices (he does not have a lot of work re: covid ) =(
He has bank loans and that kind of baffles me. Lots of transfers in his bank via e-transfer. Would appreciate your feedback and maybe you do need to make a video for those people that are coming back into the accounting mix. Thanks, I have learned so much from you already!!
Enter the data manually in the register, that would be a first.
Help please i'm going crazy trying to figure out why my business credit card wont reconcile correctly to zero. Its 5 credit card payments from my business checking to my business credit card. when i highlight the 5 charges with the little checkmark instead of the totals going down they go up..But when i add all 5 charges up it equals the exact amount needed to get to zero? So its backwards it seems? So statement balance - clear balance = the same number but its doubled
love your videos, I find when I click add it makes double or triple entries in the ledger, why is this? am I doing something wrong?
If you are seeking duplicates.. use “Match” instead.
Hector, you're the best! Thank you!
Louise Decoteau :)
hector as always. the best !. This is an excellent video.
Hello Hector, I am reconciling a credit card statement and would like the correct procedure at the end when the month reconciles. It asks "pay all or a portion of the bill now" or "enter a bill to pay later", I have always skipped that step and have ton's of outstanding entries but have unreconciled all of 2020 for other reasons and would like to do it the correct way according to you .
Buenas tardes, es posible un video de conciliacion en espanol?
Yo no hago mucho contenido en español
I think you can add a subtitle feature on your phone
Hello Mr. Garcia! Do you do Quickbooks cleanup? If so, how much do you charge?
Hi, So This means f can reconcile even though there is no clear date or a green box? this gets confusing, I want to say thanks for your amazing videos so helpful.
Yes, correct
Hi, thanks for the video, I have a question do I need to have bill enter for each bank transaction to match, I am working with the owner who pays bills by bank and CC and sometimes does not provide the invoices for me to enter to QPO.
Thank you Hector for the video. That is very useful!
Great! You welcome
question. before reconciling what records are suppose to be matching to the bank statement. I put in expenses from receipts of purchases so that is what is logged. If they were paid by CC and the CC is paid in a lump sum, how do I separate this from what I have logged as expenses. Im having a hard time to understand reconciliation.
Does it mean that all transactions in banking are not the all in all transactions recorded by the bank.
No.. sometimes the users enter their own.
Hello Hector, can I reconcile only the present year, and disregard the previous.years that is not yet reconciled?
You would need to force reconcile previous years
hi again hector, i love your voice. :) hehe
I do not understand this if your ending balance, is -209.48 ( 5000 - 8480.83 +3,271.35) why your difference is 0 ??? What is the subtraction that QB is doing?
This video is a year old.. is impossible to see what the math was exactly.. but if you follow the steps, you should be fine.
Hi Hector,
I subscribed your page. Recently I added credit card account to QB. Before I made credit card payment through one of the bank a/c. which is already linked with Quick books. Now my question is how can I match these two transactions in my bank it is showing as spent and under credit card showing as received.
I matched the transaction in this way under expenses created check under payee given the credit card holder name and in bank a/c column from which bank a/c under category I selected the credit card and given the amount in the particular column. Thus the transaction matches both the bank a/c and credit card also. But whatever paid amount shows in banking tab under credit card remaining balance and quick books paid amount in -value.
Undo both reconciliations, make one transfer to hit both accounts, delete any duplicates; re reconcile.
@@HectorGarciaCPA Thankq so much.. still now I didn't add any of my credit card transactions to QB. Payment of credit card transactions through record transfer shows my QB balance as negative balance . I think I need to add all the transactions of credit card. First time I'm doing this your suggestion is more valuable to me.
vani mahesh yes you need to add the charges now
@@HectorGarciaCPA thankq so much...
Hi, Hector.. One question, please, how can I register a maintenance fee in my reconcile?
John Johnson go to the register of the bank or credit card and add the expense there.
@@HectorGarciaCPA Than you.
Hello Hector ! Thank you for your amazing videos. What my register is balanced and matches my bank statements, but is QB shows a different amount and unable to reconcile? I believe the statement ending balance is incorrect. Thank you, how do you find where the statement ending balance is entered?
I would have to see it.. I can’t know form here what is wrong with your QB
What if books and statement is balanve but on Quickbooks there is a difference?
Means that there are uncleared transactions
Thanks for you for these Online Tutorials. I am going through the transition of moving some of my bookkeeping clients from the desktop version to online. One thing I am having trouble with is the reconciliation with one client. They write as many as 300 checks per month and when reconciling, if I have to change a check amount, when I go back to the reconciliation, it takes me back to the top of the page. Is there a setting to allow me to continue where I left off?
No solution for that... don’t modify the check on that screen.. use another screen/tab for that
@@HectorGarciaCPA Thank you, I'll try it.
Great video. However, the background music is a bit distracting.
Yes it is.
How do I clear up my reconciliation discrepancy Report? That has already been reconciled.
An accountant needs to undo the recs
what if you started entering your banking transactions manually, then later download from the bank. Will it duplicate everything? Should I delete what I have entered and start fresh?
Angela Hall it might.. you have to make sure you delete any downloads from a period you already reconciled
Hi Hector
I have a doubt, in reconciliation recently I have connected the credit card to QuickBooks online now I have to reconcile the credit card. Still now I didn't enter any of the transaction of credit card in quickbooks. But, opening balance show as 0. Once I enter all the transactions in quickbooks and match them accordingly then my opening balance will change? Please clarify my doubt.
No... you May need to enter the opening. Balance yourself
Thank you. As per the statement I need to enter opening balance or I can take credit card limit as my opening balance and match expenses accordingly?
How do you unreconcile if you missed an error?
Shelley Lamas you need to ask your accountant to do it... QB doesn’t let you unreconcile.
Thank you!
You welcome.
Thanks
hi everyone
You Good!!!
Thanks