Reconciling a bank account
Reconciling a bank account is also called as balancing an account.
- Open Reconcile from the Banking menu.
- Fill in the details.
- Enter the "Service Charges" and "Bank Interest earned" with correct date.
- Enter the closing balance amount.
- When the reconcile starts, it will list all the transactions.
Print Reconcile statement using "Print" option.
- Check the transaction with the bank statement by selecting the checkboxes present.
- If there is no difference and every transaction is matched with the statement then click "Finish Reconcile".
- If any transaction is missing from the statement then add that entry and click Finish the Reconcile.
- If there is any difference in the transaction then use "Make Adjustment entry" option to adjust the entry and Finish the Reconcile.