Tuesday, February 20, 2024

How to reconcile in QuickBooks?

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Since November 6, 2024, Receipt-AI has been available for One-Click Reconciliation in QuickBooks online.

How to reconcile in QuickBooks with One-Click

Before November 6, 2024:

This guide is for reconciling bank transactions with expenses in your QuickBooks Online account. 'Expenses' are the costs or money spent in running your business. There are two steps:

Step 1. Categorize Transaction

Step 2. Attach Receipt

If you are using QuickBooks mobile app:

Learn more: How to reconcile in QuickBooks online app

If you are using QuickBooks website:

Step 1: Categorize Transaction

1. Click Transactions -> Bank Transactions

How to reconcile in QuickBooks: Select transactions, and then Bank Transactions from the left bar menu.

2. Select an expense transaction, select a category, then type the vendor name under 'Vendor/Customer'.

See the example where we use a Heroku transaction in Office Expense: Software Category.

* Receipt-AI includes the business purposes for your receipt when you upload them using SMS and Email. If you don't use Receipt-AI, make sure to include a memo here.

How to reconcile in QuickBooks: Select a category (for example,

3. If the vendor does not already exist, click '+ Add new (Vendor Name)'.
Select 'Vendor' contact type and click 'Save'.

How to reconcile in QuickBooks: make sure the contact type is 'vendor', and then click 'save'

4. This will bring you back to previous page, click 'Confirm' to finish categorizing the transaction.

How to reconcile in QuickBooks: Click 'Confirm' to finish categorizing the transaction.

Step 2: Attach Receipt

5. Click 'Categorized' to locate the transaction you just confirmed. Then, click on the blue mark labeled 'Expense: Office Expense'

How to reconcile in QuickBooks: Click 'Categorized' to find the transaction we just confirmed. Click the blue mark next to the transaction labeled: 'Expense: Office Expense'

How to reconcile in QuickBooks: Click the blue mark next to the transaction labeled: 'Expense: Office Expense'

6. It will open a new window. Scroll to the bottom and click 'Show existing' under 'Attachments'.

How to reconcile in QuickBooks: A new transaction window opened, Click 'Show existing' to see a list of receipts uploaded from Receipt-AI

7. You will see a list of receipts uploaded by Receipt-AI. All the receipts are renamed with the date, vendor name, and total to help you quickly navigate to the receipt you want.

Find the receipt for the transaction and click 'Add'.

How to reconcile in QuickBooks: Navigate through the list of receipts uploaded by Receipt-AI. Once you find the receipt for this transaction, click 'Add'.

8. You should see the receipt displayed under 'Attachments'. This indicates that the receipt has been successfully attached to your bank transaction. Click 'Save and Close'.

How to reconcile in QuickBooks: Click 'Save and Close' to complete the document matching process.

Congrats! You've just reconciled your first bank transaction. We recommend categorizing all transactions in QuickBooks first, and then matching each receipt with its transaction to save time. With Receipt-AI, we make it easy to upload receipts to your QuickBooks account using email and SMS. All receipts are renamed to help you quickly find the specific receipt you need.