Bank Reconciliation

Reconciliation ensures that the transactions in the application match those in your bank statement. You must reconcile your accounts each month when you have your bank statement.

Note

You can only reconcile a month if the previous months have been reconciled.

To reconcile:

1. Choose the bank account
2. Choose the month
3. Enter the closing balance from your bank statement (the opening balance is the closing balance of the previously reconciled month)

The transactions displayed are those that have not yet been reconciled and were completed before the end of the month. You will be able to select all the transactions on your statement.

Note

The difference between the account balance calculated by the application and the one on your statement must be zero for the reconciliation to be validated.

Tip

Your reconciliation in progress is automatically saved, allowing you to complete it later. You can also add PDF files of your monthly bank statements to each reconciliation period.

Settings

Bank account	Select the bank account for which the reconciliation will be carried out. This account must be a checking account.
Period	To access a previous bank reconciliation, click on the desired period To start a new reconciliation, click on + New reconciliation and enter the start date and end date of the reconciliation. The start date must be the closing date of the previous reconciliation. Transactions with a start date are included in the list of transactions to be reconciled. The ones with the end date are not.
Starting balance	Bank account balance at the start of the reconciliation. The starting balance is the closing balance of the previous reconciliation.
Closing balance	Bank account balance at the end of the reconciliation
Modify the reconciliation	To access a previous reconciliation to modify it.
View the reconciliation	To consult a previous reconciliation without modifying it.
PDF File	You can attach one or more PDF files of your bank statement to each reconciliation. These documents can be added when creating the reconciliation or later by modifying an existing reconciliation.

Caution

When you modify a reconciliation that has already been validated, you break those that are subsequent to it.

Automatic Calculations

During reconciliation, the application automatically calculates and displays:

Total Debits	The sum of all debits from the transactions selected for reconciliation.
Total Credits	The sum of all credits from the transactions selected for reconciliation.
Difference	Calculated using the formula: Starting Balance + Credits - Debits - Closing Balance.