Hello my friends!! I felt I needed to put a special video, just to highlight the one part of bank Reconciliation that challanges everyone whoi starts reconciling late. It's because most people start way AFTER the first month of usage, that the begining blance is not zero and they aften don't know what it was or should have been. So, this vidoe gives specifc, clear steps on how to reconcile an old account that you never reconciled before. There's simple steps but every once in a while, there comes a challanging situation that is clealry addresses here. I also decided to show this special case as a prectical, step-by-step example so people who arte curios, can see the whole picture and know what do do and undewrstand why you do it. I hope you will clcik "like" and subscribe to help support the feree channel for eveyonw. -Mark
Wow, thanks! I'm very glad you liked it and I hope it helped you and I hope you will always click like after watching each one to help support the free channel for everyone and please subscribe and stay in touch! Mark
Awesome, thank you! I'm very happy that this is helping good people and please stay in touch with anything else you might need in QuickBooks I hope you remember to click like after watching each one to help support the free channel for everyone and please subscribe Mark
Thank you for asking The link to the full playlist for QuickBooks online bank reconciliation is in the description field below the video You can also find it if you click in the top right corner of the video to get the links to the other playlist Please confirm that you found it, and if not, then I will send you the link. Please let me know Mark
@@worldwidequickbooks thanks for your reply. The title is Quickbooks What is Bank Reconciliation, not Full Bank Reconciliation Course Quickbooks Online. I've been looking for the Full Course. I had a problem right now reconciliation right now. Thank you
Thank you so much for being a loyal fan and I'm really doing my best to adapt to the new way of recording myself and the new way of editing So I'm like a blacksmith who stops to sharpen the blade but I hope the recordings of myself and the new editing style will be better for everyone in the long run There's a lot more to come and it's coming soon and faster so you will be happy and thank you again and I hope you will always click like after watching each one to help support the free channel for everyone and please encourage people to subscribe Mark
Hi Mark. You requested I ask my question here. Should I do the same process you recommended in the video if I have all the monthly bank statements? I’ve been tasked with doing a 2024 YTD cleanup. I only got this account Sept 2024 and all 2024 was not reconciled. Per your video, you said to clear all up to the month I want to reconcile. Question- should I follow what you suggested to bring 2024 current or should I look at each transaction for each month? I hope this question makes sense. Thanks! Iris
Nice to meet you Iris and I'm glad to have your question This video shows that you only really have two choices in your position, you could go all the way back to the very beginning of the account and reconcile each month all the way up to your start date which would take forever, or you could do exactly what this video shows on your declared start date the one that you mentioned in your comment According to what you told me I assume that all prior months before the start date you mentioned have never been reconciled so the method in this video would be absolutely perfect just watch it a couple of times and give yourself a chance to think about each of the important parts Then top confidence that if you do what it says everything will work out I'm also hopeful that within the next couple of months and definitely before the new year I will have the full bank reconciliation course up here on UA-cam and it will be a special incredible great course that you could do the whole course with and this video is only a small part of it That will improve your skills and gain Insight but I hope you'll have this fixed by then and thank you for asking Mark
Yes there's another journal entry called beginning balance journal entry but this is specifically referring to the one that relates to reconciliation and the other account involved in addition to your cash account is mentioned in the video there's a specific account that changes Let me know if the video clears up the confusion or if you think there was something I needed to change Mark
Hello my friends!!
I felt I needed to put a special video, just to highlight the one part of bank Reconciliation that challanges everyone whoi starts reconciling late. It's because most people start way AFTER the first month of usage, that the begining blance is not zero and they aften don't know what it was or should have been. So, this vidoe gives specifc, clear steps on how to reconcile an old account that you never reconciled before. There's simple steps but every once in a while, there comes a challanging situation that is clealry addresses here. I also decided to show this special case as a prectical, step-by-step example so people who arte curios, can see the whole picture and know what do do and undewrstand why you do it.
I hope you will clcik "like" and subscribe to help support the feree channel for eveyonw.
-Mark
Simply the best, most clearly explained lesson of QBO on UA-cam, Great job and thank you!
Wow, thanks!
I'm very glad you liked it and I hope it helped you and I hope you will always click like after watching each one to help support the free channel for everyone and please subscribe and stay in touch!
Mark
@@worldwidequickbooks Will do Mark!
I'm so glad you have new video Mark! Been watching your old videos. I love the way you explain things, so crystal clear! Appreciate you man!
Awesome, thank you!
I'm very happy that this is helping good people and please stay in touch with anything else you might need in QuickBooks
I hope you remember to click like after watching each one to help support the free channel for everyone and please subscribe
Mark
hi didn't see the full bank reconciliation course QuickBooks online , can you give the link pls
Thank you for asking
The link to the full playlist for QuickBooks online bank reconciliation is in the description field below the video
You can also find it if you click in the top right corner of the video to get the links to the other playlist
Please confirm that you found it, and if not, then I will send you the link. Please let me know
Mark
@@worldwidequickbooks thanks for your reply. The title is Quickbooks What is Bank Reconciliation, not Full Bank Reconciliation Course Quickbooks Online. I've been looking for the Full Course. I had a problem right now reconciliation right now. Thank you
sir waiting for your reply thank you
@@worldwidequickbooks i did not see the video for full bank reconciliation please help thank you
Hi mark it's been so long waiting for new and long courses plz make some advanced clurses
Thank you so much for being a loyal fan and I'm really doing my best to adapt to the new way of recording myself and the new way of editing
So I'm like a blacksmith who stops to sharpen the blade but I hope the recordings of myself and the new editing style will be better for everyone in the long run
There's a lot more to come and it's coming soon and faster so you will be happy and thank you again and I hope you will always click like after watching each one to help support the free channel for everyone and please encourage people to subscribe
Mark
Hi Mark. You requested I ask my question here. Should I do the same process you recommended in the video if I have all the monthly bank statements? I’ve been tasked with doing a 2024 YTD cleanup. I only got this account Sept 2024 and all 2024 was not reconciled. Per your video, you said to clear all up to the month I want to reconcile. Question- should I follow what you suggested to bring 2024 current or should I look at each transaction for each month? I hope this question makes sense. Thanks! Iris
Nice to meet you Iris and I'm glad to have your question
This video shows that you only really have two choices in your position, you could go all the way back to the very beginning of the account and reconcile each month all the way up to your start date which would take forever, or you could do exactly what this video shows on your declared start date the one that you mentioned in your comment
According to what you told me I assume that all prior months before the start date you mentioned have never been reconciled so the method in this video would be absolutely perfect just watch it a couple of times and give yourself a chance to think about each of the important parts
Then top confidence that if you do what it says everything will work out
I'm also hopeful that within the next couple of months and definitely before the new year I will have the full bank reconciliation course up here on UA-cam and it will be a special incredible great course that you could do the whole course with and this video is only a small part of it
That will improve your skills and gain Insight but I hope you'll have this fixed by then and thank you for asking
Mark
@@worldwidequickbooks thank you so much! I’m going to do as the video says! Can’t wait to see the full reconciliation training. 👍😊🔥
Is the beginning balance adjustment done with a journal entry? What would the 2 accounts be for this adjustment?
Yes there's another journal entry called beginning balance journal entry but this is specifically referring to the one that relates to reconciliation and the other account involved in addition to your cash account is mentioned in the video there's a specific account that changes
Let me know if the video clears up the confusion or if you think there was something I needed to change
Mark