QB Issue Resolution:

The “bank amount” is confirming that your ‘reconciled balance’, in QuickBooks, as of the statement date matches the bank statement balance.  Through the reconciliation process, you have acknowledged that all postings to/from the bank, as noted on the bank statement, agree with your reports.

The book balance includes:

1)   deposits in transit (deposits posted in that month that did not clear on the bank statement)


2)   uncleared checks (checks posted in that month, or a prior month, that have yet to clear the bank)

The “3-way” part includes a reconciliation of who owns the monies held in trust.  You should be able to produce a report that shows each client’s trust fund balance remaining as of that date – the total of which should match your book balance.

I hope this helps,

Resolution for Issue 'Doing a 3-way reconciliation for a law firm what is a reconciled bank amount and a book amount.' available: Yes (Solved).
Source: Intuit Community forum.

Doing a 3-way reconciliation for a law firm what is a reconciled bank amount and a book amount.: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.

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