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Bank Reconciliation is an operation used to compare your records of a bank account with the bank's records for a definite date, as shown in the Bank Statement.
To open this window select Banks and Checks / Bank Reconciliation from the Main menu or select
it from the Navigation pane: press the button  and select
the appropriate icon  Bank Reconciliation.
The Bank Reconciliation window shows all outstanding checks or payments and all deposits for the current date.
Deposits grid displays all payments that have been transfered to the selected account.
Date - The date the payment was received.
Check Number - The number of the check received.
Payee - The name of the Customer, Vendor or Payee the payment was received from.
Amount - The dollar amount of the payment received.
Description - Additional information about the transaction.
Checks and Payments grid displays all payments that have been drawn from the selected account.
Date - The date the payment was made.
Check Number - The number of the check written.
Payee - The name of the Customer, Vendor or Payee who received the payment.
Amount - The dollar amount of the payment.
Description - Additional information about the transaction.
Use the following steps to reconcile the Bank Account:
- In the Account to Reconcile field, select an account to be reconciled from the drop-down list.
- Use the Date drop-down calendar to select the date of reconciliation.
- Compare the Opening Balance amount shown in the Bank Statement with the amount shown in the Beginning Balance field of the Reconciliation window.
- Enter the Ending Balance amount shown in the Bank Statement in the Ending Balance field.
- Check the boxes beside the entries in accordance with the records in the Bank Statement. Deposits are in the top grid.
Checks and Payments are in the bottom grid.
To select all deposits and payments press the Select All button.
To unselect the checked boxes press the Unselect All button.
- After you have checked the entries that match the records in the Bank Statement click the Reconcile Now button.
The Items to be Reconciled group-box shows how many deposits and payments you have selected as cleared, the total count of deposits and payments and the dollar amount of those entries.
To see the source of any entry press the Go to Check button.
The Ending Balance field shows the same amount that has been entered in the Ending Balance field at the top of the window.
The Cleared Balance field shows the dollar amount of the cleared checks and deposits that have been selected in the dialog box.
The Difference field shows the difference between the balance with the bank and the real balance when the deposits and payments are selected.
The Post Difference to Account field shows the account the difference will be placed on.
After all the cleared checks and deposits have been selected, the difference between the Cleared Balance of an account and the Bank Statement Ending Balance should equal to zero.
If it is so, you have made the records correctly. Press the Reconcile Now button.
If the difference does not equal to zero, some information has been missed. After the Reconcile Now button is pressed the Warning about the existing difference will appear. To accept and post this difference press the Ok button. The amount of the difference will be placed on an account that has been selected from the Post Difference to Account field. Press the Cancel button to go back to the Reconcile window and search for missing or incorrect transactions in order to equate the Cleared Balance with the Ending Balance.
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