Have you ever been able to reconcile your QuickBooks bank account on a daily basis? It's very easy to do it if you have the right information. You will need a report from a financial institution that will present three things:
1. Opening balance of the account on that day
2. All Banking Activities of the Day
3. Closing Balance of the Day
With these three information, you can conclude your accounts on a daily basis in QB.
Most banks and credit card companies offer online services. If you need to reconcile an account on a daily basis, see if you can go online and print a report that contains the above information. If so, they are all set for daily reconciliation.
We all know the monthly statements. It has the same information as above: the opening balance since the first day of the month; all activities in the month; and the closing balance until the last day of the month. With this in mind, it is possible to transfer bank transfers to other periods: weekly, biennial or any other period. It does not have to be a regular period. It is compatible for one week, then for one day, then for three days and then for three weeks. As long as any report / statement from the bank shows the above information, you can always do it at any time.
We do not recommend it to be illegal because it is not. I just show you to show that this is not the most important period, the three information I've shown above are important. Irregularities may be problematic in other respects, so I suggest that everyone should regularly do it.