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You are here: Experts > Shopping > Credit/Debt Management > Quicken & Other Budget/Accounting Software > Balancing someone else's checkbook
Expert: Linda Saltz, CPA, QBalance.com
Date: 9/17/2008
Subject: Balancing someone else's checkbook
Question
whats the best way to balance someone elses brokerage account? i dont have access to her accounts only a years worth of statements
Answer
Hi Susan,
If you have the bank statements that will be all you need to reconcile within your accounting software.
Brokerage account statements consist of a money market account, stocks & bonds held, and buys & sells, dividends received & reinvested.
So are you reconciling a personal brokerage account or a business brokerage account and are you reconciling to a QuickBooks or Quicken software or to a manual check register?
You need to figure out if you will be asked to track the cost basis
of each of the investments and also the different types of income (interest, dividends, gains & losses on stock sales)
Let me know and I will be able to make further recommendations.
Linda Saltz, CPA
Advanced Certified QuickBooks Advisors
www.qbalance.com
We sell QuickBooks supplies at a discount.
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