Question

One major benefit of using the Bank Feeds feature in QuickBooks Online is that as you _________________ or __________________ transactions in QuickBooks Online from the downloaded transactions from the bank, they are marked ___________________. This makes the end-of-period bank reconciliation more efficient.

Answer 1

Answer: One major benefit of using the Bank Feeds feature in QuickBooks Online is that as you Exclude or Add transactions in QuickBooks Online from the downloaded transactions from the bank, they are marked Reconciled. This makes the end-of-period bank reconciliation more efficient.

Explanation:

Bank feeds is the online transaction platform provided for the customers to connect with the bank and download the transactions and access other online services. These transactions saves time for the users.

Bank reconciliation is checking the balances of the bank statement and the cash account. The difference in both the books are checked and reconciliation statement is passed to match both the books. Manual reconciliation takes time whereas it is easier to do it through quickbooks in online.