Preparing for Bank Reconciliation

Purpose: The administrator prepares the resources needed by the Treasurer to reconcile QuickBooks to banking transactions.

Matching Bank Transactions

The church bank accounts are linked to QuickBooks such that any transactions that clear the bank will automatically show up in QuickBooks. For each bank account listed on the Bank Transactions page.

1. Verify QuickBooks Suggested Matches

• Click on Pending.

• Use the pulldown to filter for Suggested matches.

• If the dates are identical or pretty close and the bank description is consistent with the transaction description in QuickBooks, click on the Match link on the far right to confirm the suggested match.

2. Match Transactions with Multiple Possible Matches

• Use the pulldown to filter for All transactions.

• If QuickBooks identified 2 or more existing transactions that could match a bank transaction, click on the Suggested Matches link and pick the existing QuickBooks transaction that matches the bank date and bank description.

• Click on Match.

• Repeat until all suggested matches whether single of multiple are posted.

3. Resolve Bank Transactions Not Found in QuickBooks

• For any of the remaining bank transactions that you determine to be legitimate, create the appropriate QuickBooks expense,  deposit or bank transfer and match it to the bank transaction.

• If a bank transaction is clearly an Amazon purchase follow the steps for Recording Amazon Purchases.

• Any bank transaction that you cannot substantiate should be brought to the attention of the Treasurer immediately.

Preparing for Bank Reconciliation

1. Download Bank Statements

• Simmons Bank:

  • Log into Simmons Bank.

  • Download the statements for each account.

• PNC Bank:

  • Navigate to Account Activity page at PNC Bank.

  • Download the bank statement.

2. Organize Files

• Move all downloaded PDF files to the Bank Statements folder on Google Drive.

3. Match Transactions in QuickBooks

• Navigate to the Banking transactions page in QuickBooks.

• Match all transactions for the month just ended (see above).