To ensure accurate accounts, reconcile your bank transactions against your bank statements each time you receive a statement.

Verify the bank account

1. Confirm you selected the bank account that matches the statement.
2. If you selected the wrong account, click Cancel, select the correct account, and restart the reconciliation.

Check the Statement Date

1. Confirm the Statement Date matches the date on your bank statement.
2. If the date is wrong, enter the correct date and click Apply.
3. Reconcile any additional transactions that appear on the statement.

Check the Statement End balance

1. Confirm the Statement End balance matches the ending balance on your bank statement.
2. If the balance is wrong, enter the correct amount and click Apply.

Match the correct transactions

1. Match each transaction to the bank statement amount and date.
2. If you reconciled a transaction by mistake, clear the Reconciled checkbox.
3. To clear all selections, click Unreconcile All Entries from the Interest and Charges menu.

Enter Bank Interest or Charges

1. Select Interest and Charges, enter the details, and Save.
2. To change these entries, clear the Reconciled checkbox, edit or delete the transaction, and click Save.

Edit or delete the transaction:

1. To edit, select the transaction, update the details, and Save.
2. To delete, select the checkbox and click Delete.

Check for missing transactions

1. Confirm that every transaction on the bank statement appears on the Bank Reconciliation page.
2. You’ll get "WARNING: if you click Finish the reconciliation is complete and cannot be undone!".  If you need to add or fix transactions, select Save for later before you finish, or click Cancel and restart.

Review saved reconciliations

1. Verify the Statement Date and Statement End balance before you continue.
2. Confirm reconciled transactions still match the statement.
3. Review the details until the difference equals zero. If it doesn’t, click Unreconcile All Entries in the Interest and Charges menu and restart.

Complete your first reconciliation

1. Confirm the opening balance is correct.
2. Compare the bank opening balance to the bank’s opening balance. Go to Settings, Opening Balances, Bank Opening Balances.
3. If the balance is wrong, update it and click Save.