Perform a Bank Reconciliation

Perform a Bank Reconciliation

Overview  

The method used to perform bank reconciliations is described in the following video. The step-by-step instructions are below the video. 


Steps 

  1. Open the bank account.
  2. Use the filters to refine your entries and populate the grid.
  3. Click on the Edit button.
  4. Tick the Recon checkbox against the transactions to match those in your bank statement.
  5. Click the Save the Bank Account button.
  6. Check the final account balance matches the final account balance from the bank by clicking on the Actions button and selecting Check Reconciliation.
  7. Enter the final account balance and then click the Continue button.
  8. The system will inform you if the amount you have entered matches what the system has calculated it should be.
  9. Click Yes if it matches, if it doesn't match you will need to investigate the reason for the difference.
  10. Click Continue to close the popup.
  11. To commit the reconciliation, click on the Edit button.
  12. Click on the Actions button and select Commit Reconciliation.
  13. In the popup enter the final statement balance, statement page numbers, the reconciliation date and an optional note.
  14. Click Continue. The Reconciled To figure will be updated.


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