There is an interesting feature of QuickBooks that very few users are aware. QuickBooks helps in the  reconciliation of various accounts. These accounts also include credit card accounts. It becomes important to reconcile the credit card account on a monthly basis as soon as you receive the credit card statement via email or by post.

Credit Card companies usually do not make errors. Nevertheless, you should check your credit card statement. In case of an error, you should inform your credit card company within the stipulated time. In case there is an error and you do not inform the company in time, you will have to bear the cost.

It is very important to check the items that appear in the credit card statement also appear in the quick books. There is some variation or the other between the two many a times. It is very important to enter the missing items before one begins the process of reconciliation. There is a set procedure to open the quick book.

Do not wait for a long time before you begin reconciliation. The backlog in number of transactions that you will have to reconcile will increase. It will become more difficult for you to reconcile your credit card statement.

The first step is to start QuickBooks. Select banking and then the reconcile option from banking. This will open the reconciliation window. Now, go to the drop down box of the accounting software. Now, choose the credit card account you wish to reconcile and the statement date.

Now, start the verification process. You need to verify whether the beginning balance of the credit card statement is the same as the beginning balance of the account in QuickBooks. In case both the amounts are the same, you might have altered or wiped off the previous transaction. Now, enter the ending balance as depicted in credit card statement.

After you have entered the opening and closing balances, match the transactions with the charge and cash advances columns with the charges in your statement. After you have done that, match the payment entries in QuickBooks with the payment entries in your statement. This will provide you with a complete reconciliation with your credit card statement.