Bank Reconciliation


When you reconcile a Bank Account:

  • you’re matching the transactions on your Bank Statements with the transactions in the respective Bank and Credit Card accounts in your system.

  • creating and saving a record of the reconciliation.

Reconcile a Bank or Credit Card account

Banking>Bank Account>Actions>Reconcile

  1. Enter the target statement end date and it’s respective ending balance.

  2. Click ‘Continue’

  3. The system will create a ‘New Reconciliation' Document with a Status of ‘Pending’. If you decide to suspend the reconciliation task, you can ‘Save and finish later’. The Document will remain ‘Pending’.

  4. Match the transactions on the statement with the system records. Click in the checkbox to the left of the transaction to record the match. Notice the balance of ‘Amount Reconciled’ will increase, and the residual balance will be displayed in the ‘Amount Not Reconciled’.

  5. If you find an amount that does not match, then investigate and enter the unmatched amount onto the appropriate Document(s).

  6. When you’ve completed the reconciliation, click ‘Save’. The reconciliation will be saved for reference.

To find a ‘reconciled’ or ‘pending reconciliation’ Statement,

Bank Accounts>Find.

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