K2 Tech Update | Tech Tip
QuickBooks :: Creating a Reconciliation Report in QuickBooks
In QuickBooks, a custom report can be very helpful when attempting to reconcile an account. Such a report sorts transactions by payee, and all transactions for a specific vendor, customer, or employee are subtotaled. The reconciliation report also filters information based upon the "cleared" status. To create the reconciliation report, begin by selecting Reports, Custom Transaction Detail as shown in Figure 1.
Figure 1 - Selecting Custom Transaction Detail Report
Select Modify Report and change the display options. Select "All" dates so that any relevant transactions regardless of the date will be included in the report. Subtotal the report by Payee; subtotaling by payee is preferable to subtotaling by vendor or customer because it reduces the possibility of the report excluding transactions that do not have a vendor or customer name, such as transactions using employees or other names. Finally, we will remove columns that are not necessary as shown in Figure 2. More specifically, the settings modified on the Display tab are:
- Dates = All,
- Total by = Payee, and
- Uncheck columns for Account, Class, Cleared, and Split.
Figure 2 - Reconciliation Report Display Tab
Select the Filter tab and filter the report by the Account you want to reconcile. In addition, set the Cleared filter to No to remove completed transactions; this will provide relevant information and reduce the report length as shown in Figure 3.
Figure 3 - Reconciliation Report Filters Tab
Select the Header/Footer tab and change the Report Title to reflect the account number and the name of the account in accordance with our naming convention as shown in Figure 4.
Figure 4 - Reconciliation Report - Header Footer Tab
Upon completing the report, it will resemble the one pictured in Figure 5.
Figure 5 - Sample Reconciliation Report
This report should help to identify the transactions that constitute the balance for an account in QuickBooks.
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