Click on Reconciliation in the Finance section
Clicking on Reconciliation will bring up the following screen which will allow you to select a Bank Account for Reconciliation.
Click on Select Bank for Reconciliation to go to the next screen.
You will get a list of all the reconciliation records that has been done for the Bank Account so far.
Click on New Reconciliation to go to the next screen
Enter the Bank Statement Date and the Bank Ending Balance on that date.
Click on Reconcile and Save to do the Bank Reconciliation.
The Reconciliation will show you the difference amount and an error message if the amounts are not reconciled.
Here’s a few things to look into if your reconciliation comes up with a difference.
- Make sure you have entered the Bank Ending Balance correctly.
- Verify which of the checks were not cleared by clicking on Uncleared Transactions.
- If not cleared and needs to be cleared click on the check box for the transaction and then click Save.
- Check if any transactions for Deposits, Withdrawals or Transfers were entered in error or any new ones that need to be entered.
- After following the steps above, click on Reconcile and Save again will try to do reconcile again.
- It will save the transaction if it reconciles.
- Click on Display/Print to export the data to a PDF, Word, Excel or for the print output.