Review incoming banking and credit card transactions daily or weekly depending on number of transactions. This gives you an opportunity to review bank and credit card transactions for accuracy and catch fraudulent charges in real time or missed deposits due to bank error. If your books match your bank, you can monitor your cash balance and avoid costly bank charges due to bounced checks.
After you have reconciled all the transactions to your monthly statement, it is important to print the reconcile report and review the uncleared transactions. Clean up any old transactions.
Checks that are lost should be cleared out and reissued if necessary. The only items that should be in the uncleared section will be current transactions
QB tip: Use bank feeds and clear transactions for quick reconciles at month end.