After you set up your accounting software, it’s important to reconcile your bank account vs what’s in your accounting system. Now,  this is super important.  The bank balance account never lies.  The bank accounts where all the transactions actually happen. The bank is the official record of your bookkeeping and accounting transactions - at least those that impact your cash position. The best accounting software, like QuickBooks Online, has direct API connections into your bank account. You enter in your username and password, and the accounting software grabs all the financial transactions.Then, you can match all of the transactions in your bank account against what’s in the accountant software. It’s this nice little clearinghouse in what accountants call “reconciling”. The thing about accounting software is that you can manually create entries - they are called “journal entries.” This means that you could actually make transactions up out of thin air. But if you reconcile them and actually match them against bank transactions, you can’t make something up - your accounting data and system become reliable.  A  good example of why is it so important is sometimes people might put fake revenue transactions or fake expenses or make journal entries to cover up expenses so that no one could see them. But if you’ve compared your entries against the bank feed, you are much less likely to have fraud. So, reconciling cash is your way to detect fraud. We do this at Kruze for our clients, and if you are using the software to do DIY your accounting, you should to. To reconcile in QuickBooks Online, look on the left side of the screen at the navigation, and click on Accounting. You should see a Reconcile button pop up.