Bank reconciliation is the process of matching a bank account’s records and balances with our accounting records. This process aims to determine the differences between our records and those of the Bank and record any changes in our records.
Reconciling bank accounts
To reconcile a bank account,
Reconcile a bank account
- In the main menu, go to Bank, then click on Bank Accounts.
- On the bank account, click on the actions menu and then on bank reconciliation.
- You can also click on the option “Pending” on the account’s Status if it has pending transactions to reconcile.
- In the Reconciliation screen, check each transaction in the list according to the Bank’s accounts statement.
- You can see the reconciliation summary with a reconciled balance, and the account’s balance according to our accounting records.
If we want to see the reconciliation report for this account, we click on the Reconciliation Report option in the left panel.
Once done, you can return to the bank accounts area. You can repeat this process for other accounts to reconcile them.