Why to Reconcile Quickbooks on a Daily Basis

I have been in the habit of reconciling QuickBooks on a daily basis for as long as I can remember. When I was a really small business (that is, working solo) it was easy to manage reconciling on a daily basis. As I grew, both I and my business found that maintaining the habit of reconciling every day became even more important.

If you are confused by the phrase "daily reconciling," let me explain. Most financial institutions provide a daily ending balance at the end of each day’s transactions. Some institutions, like Chase, provide a balance after every single transaction. What this allows you to do is reconcile QuickBooks to your actual bank balance every single day.

Author: Matt Roberge

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