The reconciliation process does not affect any values on your system, and its use is optional. It lets you match each payment and receipt you have entered into the system against a physical bank statement. This helps you to ensure that the amounts are correct. For example, you may write a cheque for 100.00, but enter it into the system as 1,000.00. Alternatively, the bank can make an error. 

The reconciliation process also helps you know the value of the cheques that are not yet in your bank statement, so that you can plan your cash flow. For example, you may have cash in the bank, but unless you know the value of cheques that suppliers have not yet deposited, you do not know whether there are enough funds in the bank. If your reconciliation is up to date, you can view these undeposited cheques. 

NOTE: The bank reconciliation takes into account all payments, receipts and other transfers that you have entered. This includes customer receipts, supplier payments and other account transactions. 

You mark items as being present on the bank statement by selecting the Reconciled check box. 

How to Reconncile banks and credit card transactions

To select the bank name you want to reconcile click on the drop down arrow and select the bank Account>file in the amount under statement balance. adjust the date if you want for a specific period From and to date.

You can click on Display Reconciled Transactions to see the reconciled transactions  

• You can “Select All” to view all transactions and you can also “Deselect All”  
• On the “Reconciled Previously” box the screen show the amount of the previous recon. 
• On the “Reconciled Now” box it will show you the amount you are reconciling now  
• On the “Reconciled Total” box it will show you the total amount of your ”(Previous Recon and Reconciling now)”.
• “Save” you can click on save bottom to save  
• “Save and New” is for when you want to continue reconciling  
• “Print” the print option is for printing your recon.