LedgerMatch
How to Reconcile in QuickBooks Online (And a Faster Alternative)
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QuickBooks Online reconciliation works well — when the bank feed imports cleanly. When it does not, you spend hours troubleshooting. This guide covers both the QBO process and a CSV-based alternative that skips the bank feed entirely.
QuickBooks Online has a built-in reconciliation tool that guides you through matching bank transactions to your books. This guide covers the exact steps — and explains when the QBO workflow breaks down and what to do instead.
How to Start a Reconciliation in QuickBooks Online
- In QBO, go to Settings (gear icon) → Reconcile
- Select the account you want to reconcile from the dropdown
- Enter the Ending Balance from your bank statement
- Enter the Ending Date (the last day of your statement period)
- Click Start Reconciling
QBO will show you a split view: your bank transactions on one side, your QBO transactions on the other. Transactions that QBO has already auto-matched via the bank feed appear with a green checkmark.
Step-by-Step: Matching Transactions in QBO
- Review auto-matched transactions — confirm each match is correct before accepting it
- For unmatched bank transactions, find the corresponding QBO entry and check the box on both sides
- For bank transactions with no QBO match, click Add — this creates a new entry and you categorise it
- Watch the "Difference" figure in the top right — you need it to reach $0.00
- When Difference = $0.00, click Finish Now to complete the reconciliation
How to Fix a QuickBooks Reconciliation Discrepancy
- Run a Reconciliation Discrepancy Report (Reports → Reconciliation Discrepancy) — this shows transactions edited or deleted after a prior reconciliation
- Check for duplicate transactions in the bank feed register
- Verify that your opening balance in QBO matches last month's closing balance
- Look for transactions entered with the wrong date that pushed them into the wrong period
When the QBO Bank Feed Does Not Work: The CSV Alternative
QuickBooks bank feeds break for several common reasons: the bank connection expires, the feed imports duplicate transactions, historical data is unavailable, or your client does not use QBO at all. In these cases, the CSV method is faster and more reliable.
The CSV method: download your bank statement as a CSV from your bank's website. Export your ledger transactions as a CSV from whatever system you use. Then match them row by row — manually in Excel, or automatically with a tool like LedgerMatch.
QuickBooks Reconciliation vs CSV Reconciliation: Comparison
- QBO bank feed: fast when it works, but requires a live bank connection and can import errors
- QBO manual matching: reliable but time-consuming for high transaction volumes
- CSV reconciliation: always available, no connection required, works for any accounting system
- LedgerMatch: CSV reconciliation with automatic matching — handles 500+ transactions in under 10 minutes
Frequently asked questions
Why does my QuickBooks reconciliation not balance?
The most common causes are: a transaction that was edited or deleted after a prior reconciliation (check the Reconciliation Discrepancy report), a duplicate bank feed import, an incorrect opening balance, or a transaction entered in the wrong period. Run the Reconciliation Discrepancy report first — it usually points directly to the problem.
Can you reconcile QuickBooks without a bank feed?
Yes. Download your bank statement CSV from your bank and manually match transactions in QBO, or use a CSV reconciliation tool like LedgerMatch to handle the matching outside QBO. Many bookkeepers prefer this approach because it does not depend on a live bank connection.
How do you undo a reconciliation in QuickBooks Online?
In QBO, go to Settings → Reconcile → History by account → find the reconciliation → click Undo. Note that undoing a reconciliation marks all transactions from that period as unreconciled — you will need to redo the entire reconciliation. Only undo if you have identified a specific error that needs correcting.
Does LedgerMatch work with QuickBooks exports?
Yes. QuickBooks can export any account register as a CSV. Upload that CSV alongside your bank statement CSV to LedgerMatch, and the matching engine handles the rest. This works for QBO, QuickBooks Desktop, and any other accounting system that can export to CSV.
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