Have you ever wanted to reconcile a bank account in QuickBooks on a daily basis? It's very easy to do, if you have the correct information. You will need a report from the financial institution showing three things:
1. The opening balance of the account on that day
2. All banking activity for the day
3. The closing balance for the day
With these three pieces of information, you can reconcile any account in QB on a daily basis.
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 showing the above information. If so, then you are all set to do daily reconciliations.
We're all familiar with monthly statements. They have the same information as what I show above: an opening balance as of the first day of the month; All activity for the month; And a closing balance as of the last day of the month. Knowing this, it is possible to do bank recs for other time periods: weekly, bi-weekly, or any other time period. It does not even have to be a regular time period. You can reconcile for a week, then for a day, then for three days, then for three weeks. As long as each report / statement from the bank shows the above information, recs can be done on whatever time basis suits you.
Not that I recommend irregular recs, because I do not. I only point them out to show that it's not the time period that is most important, it's the three pieces of information I show above that are important. Irregular recs could be problematic for other reasons, so my suggestion is that, as a rule, everyone does their recs on a regular basis.