When is a bank reconciliation complete?

The bank statement. All staff involved in bookkeeping with more than accounts receivable or accounts payable know the importance of regular and frequent reconciliation of the bank statement with the bank account as reported in the accounting system. The reconciliation of the monthly bank statement with the bank account balance reported in the accounting system […]

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Does QuickBooks Online have an amortization schedule?

Currently, QuickBooks Online doesn’t have a feature to automatically do amortization. Amortization of debts and assets will have to be done through manual transactions, such as checks and journal entries. For example, the Amortization of debts can be done with a check/cheque. Select the Plus icon (+) at the top, then Check or Expense. List the bank account that payment is made from […]

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