Witness the New QBO Reconcile Feature

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New bank rec

Will intuit be fine-tuning to allow sorting by memo column as was available in the prior version of the new bank rec?

Elyse Perlik 8 days ago

Be sure to pass on 'feedback'

At the presentation of the new feature I attended Intuit seemed very interested in viewer (user) input regarding the new reconcile, so I would say just be sure to send feedback using the channel provided within the product(s).

insightfulaccountant.com 7 days ago

Machine Logic

Hey Murph, if you are correctly matching and processing the bank feeds - the bank reconciliation IS as easy as entering the bank ending balance and date and that it is, you are usually reconciled at zero within seconds.

Kathy 13 days ago

Machine Logic

Absolutely do not agree with Machine Logic here - some duties should not be delegated to a machine - or to the bookkeeper who writes the checks! I often find payments of the same amount paid on the same day but to different payees - when this is on a paper check it is easy for the machine to clear the correct transaction. Also there is a problem when bookkeeper has misprinted her checks - ever have a printer that requires you to print first check number last? When it is not a paper check then the system will not know which six of your ten payments have cleared - think not about ach payments - they always clear - but payments made by third party on your behalf, like PayChex or others - not all third party payors are direct depositing - some still issue a a paper check when requested to do so. Please also REMIND bookkeepers that having a zero balance on the reconciliation report does not mean that you are FINISHED. You are only finished recording what the bank knows about - you must READ the uncleared transactions to determine if you have stale checks or duplicated items. Duplications will remain unreconciled unless someone is on their toes - will the machine make decisions over stale checks and duplications? I think not.

Diane Sloan 12 days ago

Murph - I'm the one who really likes the New Reconciliation

I really like the new reconciliation. I think it is a step in the right direction! I especially like the cleared date column. This is super helpful for accounts w/ Bank Feeds. The cleared date vs. the posted date was always one of my gripes with using Bank Feeds on the old reconciliation. I would almost always have to clear everything and start over.

Caleb L Jenkins, CQP | top '40 Under 40' In Accounting Profession 14 days ago

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