How to Reconcile a Bank Account

Author: support staff Reference Number: AA-00578 Created: 2011-02-15 04:22 Last Updated: 2013-11-19 21:33

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From the Banking menu, select Check Reconciliation
Select a bank from the Bank Account drop down list.
Enter the statement balance in the Bank Balance field.
Enter the statement date in the Reconciliation Date field.
Check the Clr (Cleared) checkbox for each transaction that has cleared the bank.
Once you have checked all of the cleared items and the Unresolved Difference equals zero, click the Reconcile button.

Additional Notes

To close the form without reconciling, click the Leave button. Any transaction that has been marked as cleared will remain marked as cleared, but the transaction is not considered as 'reconciled' until the Reconcile button has been clicked.
The Statement Difference equals the Bank Balance that is entered less the Last Statement Balance.
The Last Statement Balance can be edited from the Bank Accounts form.
The Cleared Balance equals the sum of all transactions marked cleared on the Check Reconciliation form.
The Unresolved Difference equals the Statement Difference less the Cleared Balance.
To edit any of the bank transactions, click the Edit (magnifying glass) button.