Reconciling online accounts is designed to reconcile your account against a paper statement. Preparing your account reconciliation with QuickBooks online ensures that you work with real time online balance.
It is also a method to verify with QuickBooks and your bank same information as of your last statement date. Monthly online reconciliation of your accounts can guarantee that you have the most accurate data.
First of all, you have to prepare the bank reconciliation in QuickBooks Online, what you need to do is to click on the Gear icon then click on Reconcile. Then fill out the Reconcile Statement. If in any case you did not see the Reconcile window, you or someone else using the account has already done the reconciliation.
To start the reconciliation process, you have to connect your bank and credit card accounts to QuickBooks Online. From the Left Navigation Bar, click Transaction and then go to Banking. Then click on Add Account. Here, you may enter the Logo of your Financial Institution. Enter your Online ID or your User Name on the space provided, then enter your Password. Wait for a few minutes to complete the connection process. A dialog box will appear and ask you to map the bank accounts from your financial institution to the bank accounts n your chart accounts list.