Reconciling Lowes Credit Card Account
- Look on the Statement for the Closing Date. This is not the same as the payment due date.
- In QuickBooks go to Banking –> Reconcile.
- Select the correct Credit Card Account
- Type the closing date from the statement into the box that says Statement Date.
- Type a zero in the ending balance. (this assumes you pay off the full balance each month.)
- (Hide the transactions after statement’s end) optional
- Check off the returns at the top of the statement that have not been checked in the previous reconciliation.
- Check off all the transactions that are on the statement.
- (Unhide the transactions after statment’s end) optional
- Look at the next month’s statement and check the payment amount of the check you have written to pay the bill.
- Look for returns on the next months statement and check all the returns that were prior to the closing date of the current statement.
- The difference in the cleared balance should be back to zero. When it is, click reconcile now. Then you are done for this month.
- Repeat for all the other months.