Another overlooked feature in the bank reconciliation module of QuickBooksTM is the “Hide transactions after the statement’s end date” box in the upper right hand corner of the bank reconciliation screen.
So, why would you click that button?
To save you from having to search through transactions not relevant to your current month reconciliation. Often when reconciling it’s already two weeks in to the next fiscal month, which means all the transactions you have entered since the end of your bank statement date are going to show in the reconciliation window, but are not relevant to the bank statement you are reconciling for last fiscal month.
The one caveat to clicking this button is if you have misdated something for your current reconciliation, you may miss it if you hit that button. For example, bank charges for July 31, you dated August 31 when entering them in your bank register. If you are reconciling for July, you may end up entering your July 31 bank charges again because you can’t see them. If you are missing something that you know you entered in to your register, you can always unclick the “Hide” button to find the transaction, change the date on the transaction if necessary, then click it again to finish your reconciliation.
Improvements coming in QuickBooksTM 2009…you will finally be able to sort the checks and payments/deposits and other credits columns, in the bank reconciliation window by date, check, payee, and amount. This is a huge improvement and will make the bank reconciliation process easier and quicker. Stay tuned for more news about QuickBooksTM 2009.
*Please note that all QuickBooksTM Tips are based on QuickBooks for the PC. If you have either the Mac or Online version of QuickBooksTM, these tips may not be applicable.