The reconcile feature is meant for reconciling accounting transactions in the Manage Module, Accounting system with transactions on your bank statements. This feature is only available for asset account types.
- In the Chart of Accounts, double-click on an asset account to open the Transaction History window.
- Click Reconcile. A list of existing reconciles will open.
- Click Add to start a new reconcile. All transactions not yet reconciled will list.
- Date: Change the date to match the bank statement date.
- Starting / Ending Balance: Enter the Starting Balance and Ending Balance on the bank statement. The Target Change value will reflect the difference.
- Compare the transactions with the bank statement, and when there is a match, click in the X column. The Sum of Transactions value will change as you go.
To quickly search the list of transactions for a specific amount, enter a value in the Find Amount field. Matching results will highlight yellow.
- When the Target Change and Sum of Transaction values match, check Locked to prevent users from editing the transactions.
- Click OK to complete the reconcile. Only transactions with an X will be saved in the reconcile. These transactions will also be marked with X in the Clear column in the Transaction History window.
To print a list of the transactions, click Print.
To edit a locked reconcile, double-click into the reconcile and uncheck Locked.