QuickBooks Tip for Health & Wellness Pros: How to Reconcile Accounts in QuickBooks Online
As a health and wellness professional — whether you're a personal trainer, massage therapist, acupuncturist, or holistic coach — keeping your finances healthy is just as important as keeping your clients healthy. One of the most overlooked yet critical steps in bookkeeping is reconciling your accounts in QuickBooks Online.
Why Reconciliation Matters for Wellness Business Owners
Reconciliation is the process of comparing your QuickBooks Online transactions with your actual bank and credit card statements. This ensures your income, expenses, and bank balances are accurate — so you’re not caught off guard during tax season.
When you reconcile monthly, you:
Catch errors (like missed payments or double charges).
Track business expenses (like product orders or studio rent).
Prepare clean financials for tax deductions (like mileage, training, and supplies).
How to Reconcile in QuickBooks Online
Log in to QuickBooks Online.
Go to the “Accounting” tab and select “Reconcile.”
Choose the account (business checking, savings, or card).
Enter the statement ending balance and date from your bank.
Match transactions in QuickBooks to your statement one by one.
When the difference is $0.00, click “Finish Now.”
Best Practices for Wellness Entrepreneurs
Reconcile your accounts monthly — not just at tax time.
Keep receipts for supplements, software, equipment, and marketing.
Use class or category tracking in QuickBooks for services like private sessions, memberships, or workshops.
Mistakes to Avoid
Forgetting to track recurring memberships or online sales.
Ignoring personal expenses accidentally paid from business accounts.
Waiting until year-end to sort through receipts and invoices.
Not recording client refunds properly.
FAQ
Why is reconciliation important for wellness professionals?
It keeps your books accurate and ready for tax deductions — especially when tracking supplies, certifications, or business miles.
Can I reconcile manually without QuickBooks?
You can, but QuickBooks simplifies the process, especially for multi-service offerings and growing client bases.
What if I’m months behind?
A professional bookkeeper can clean up your books and get you back on track quickly.
📞 Need help reconciling your accounts or organizing your QuickBooks?
Book a free call with Dr. Bryan Raya, QuickBooks ProAdvisor:
👉 https://calendly.com/dbr_bookkeeping/book-a-free-call-with-dbr
Let’s start Doing Business Right.
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