How to Mark Cleared Checks and Deposits in QuickBooks 2016 - dummies

How to Mark Cleared Checks and Deposits in QuickBooks 2016

By Stephen L. Nelson

From the Reconcile window, you tell QuickBooks which deposits and checks have cleared at the bank. (Refer to your bank statement for this information.) Follow these steps:

  1. Identify the first deposit that has cleared.

    Just leaf through the bank statement and find the first deposit listed.

  2. Mark the first cleared deposit as cleared.

    Scroll through the transactions listed in the Deposits and Other Credits section of the Reconcile window, find the deposit, and then click it. You also can highlight the deposit by using the Tab or arrow keys and then pressing the spacebar. QuickBooks places a check mark in front of the deposit to mark it as cleared and updates the cleared statement balance.

    If you have a large number of deposits to clear and you can identify them quickly, click the Mark All button and then simply unmark the transactions that aren’t on the bank statement. To unmark a transaction, click it. The check mark disappears.

  3. Record any cleared but missing deposits.

    If you can’t find a deposit in the Reconcile window, you haven’t entered it into the register yet. Close or deactivate the Reconcile window by clicking the Leave button. Now open the register and enter the deposit in the register in the usual way. To return to the Reconcile window, either reopen it or reactivate it.

    Or you can just choose Banking → Make Deposits and open the deposit screen right on top of the Reconcile window, if you like. Record the deposit and then click the Save & Close button. When you open the Reconcile window again, the deposit appears in the Deposits and Other Credits area.

  4. Repeat Steps 1–3 for all deposits listed on the bank statement.

    Make sure that the dates match and that the amounts of the deposits are correct. If they’re not, go back to the transactions and correct them. To get to a transaction, click the Go To button. You see the Write Checks or Make Deposits window where the transaction was originally recorded. Make the corrections there and then click Save & Close. You return to the Reconcile window.

  5. Identify the first check that has cleared.

    No sweat, right? Just find the first check or withdrawal listed on the bank statement.

    QuickBooks enables you to sort the transactions listed on the Reconcile window by clicking the column headings in the Checks and Payments section and in the Deposits and Other Credits section. You might want to experiment a bit with this handy feature. Sorting and re-sorting transactions — particularly in high-transaction volume bank accounts — often eases the work of reconciling a bank account.

  6. Mark the first cleared check as cleared.

    Scroll through the transactions listed in the Checks and Payments section of the Reconcile window; find the first check; and then click it. You also can highlight it by pressing Tab and an arrow key. Then press the spacebar. QuickBooks inserts a check mark to label this transaction as cleared and updates the cleared statement balance.

  7. Record any missing but cleared checks.

    If you can’t find a check or withdrawal in QuickBooks, guess what? You haven’t entered it in the register yet.

    Close or deactivate the Reconcile window by clicking its Leave button or by activating another window. Then display the register and enter the check or withdrawal. To return to the Reconcile window, reopen or reactivate it. Or you can just choose Banking → Write Checks, create the check right on top of the Reconcile window, and then click Save & Close to return to the Reconcile screen and carry on from where you left off.

  8. Repeat Steps 5–7 for all withdrawals listed on the bank statement.