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As you probably know, in a reconciliation, you compare your records of a bank account with the bank's records of the same account. You should be able to explain any difference between the two accounts — usually by pointing to checks that you've written but that haven't cleared.
The first step, then, is to supply Quicken with the bank's account information. This information comes from your monthly statement. Supply Quicken with the figures it needs as follows:
Verify the opening balance.
Quicken displays a figure in the Opening Balance text box. If this figure isn't correct, replace it with the correct figure.
Enter the ending balance.
Move the cursor to the Ending Balance text box and type the ending, or closing, balance shown on your bank statement.
Provide the statement's ending balance date.
Move the cursor to the New Statement Ending Date text box and type the ending date for the statement you're using to reconcile.
Enter the bank's service charge.
If your bank statement shows a service charge and you haven't already entered it, move the cursor to the Service Charge text box and type the amount.
Type a transaction date for the service charge transaction.
You can adjust a date one day at a time by using either the + or - key.
Assign the bank's service charge to a category.
Quicken helps you out by displaying the Bank Charge category in the first Category text box — the one beneath the Service Charge text box. If you want to use a different category, click the down arrow in the Category text box to open the Category drop-down list box; then select a category by scrolling down the list and pressing Enter.
Enter the account's interest income. Enter a transaction date for the interest income transaction. Assign the interest to a category. Tell Quicken that the bank statement is complete.
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