If you are like most people, you just go online to find out your bank balance (I do). And many people also ignore the bank balance showing in QuickBooks because it always seems to be messed up (I don’t do this, however).
These steps have replaced bank reconciliation, and that is a problem because mistakes are not getting fixed. Have you ever written a check for $10.00 when you really meant $1000. Or $43 instead of $34. Those are simple mistakes.
Have you ever entered a check twice? How painful is it when you enter a deposit twice?
Those are unintentional mistakes, but if they are not fixed, the mistakes become part of your financials, and that is a problem. A bigger problem is fraudulent transactions. Doing a regular monthly bank reconciliation is the typical way that these are found.
I know that all of those credit card charges are a pain. So I will show you a step-by-step procedure so that reconciling the bank account doesn’t take all day. Finishing it will be a reason to celebrate (really, I high-five myself when ever I finish a tricky one).