- Cash Book > Bank Account Programs > Reconcile Cash / Bank Statement.
- Bank Account > choose the bank account you want to reconcile.
- Statement date > enter the ending date of the statement that you're checking.
Tip: The statement ending date is used as a cut off point, it's the latest date that you are to reconcile. Any transactions you enter with a posting date after the statement ending date will not be displayed.
- Starting Balance > check or enter the starting balance.
Tip: This value should be the same as the statement balance in Cash Book > Bank Account Programs > Display Bank Account Balances. If not, edit as required. If this is the first time you're reconciling the bank account, leave the starting balance as 0. The first transaction on the bank reconciliation window should be the opening balance. You will need to reconcile the opening balance transaction first, even though this will not appear on your bank statement.
- Ending Balance > check or enter the ending balance.
Tip: This is the balance you're aiming to reconcile your bank account to. This value is usually the final balance on the bank statement. Basically, the starting balance, plus or minus the entries you reconcile or match off against your statement, will equal the ending balance.
To begin the reconciliation > OK.
All the unreconciled cash receipts and payments are displayed. Each line displayed represents either a withdrawal or a deposit.
- To add new transactions to the reconciliation window, for example a bank charge > Add > select the required option > enter the relevant information > Save.
- To reconcile an item, double-click it. Continue until you've reconciled all of the items which appear on your bank statement.
- Check the ending balance and reconciled balance are the same and the difference is 0 > Save.
- If the reconciled balance doesn't match the ending balance, select one of the following options:
To continue > OK.
When prompted to print the Cash Book Summary Report > Yes > Print.
- Go back and finish reconciling the account - Use this option if you want to complete the reconciliation, and match off any entries needed to get your reconciled balance to match your statement balance.
- Ignore the difference and save the reconciliation - Use this option if you are happy to complete the reconciliation with a difference between the reconciled balance and statement balance, for example, because there are entries on your bank statement which are under query and you can't therefore match the balance on your statement.
- Save the work I've done so far. I will come back and complete the reconciliation later - Use this option if you want to pause the reconciliation and complete it later. For example, if need to take a break or do some other work before you can finish the reconciliation. When your restart the bank reconciliation, you'll then be asked if you want to continue where you left off.
Note: This is the only time you can print this report, you won't be able to print it later.
When the Cash Book Summary Report appears > select the Print button.