Topic: Release 2.1 - Bank Reconciliation. How to?
Bank Reconciliation
1. Select the account you want to reconcile.
2. Get your bank statement (from the bank)
3. The first time you reconcile you will need to enter a reconcile date and a start balance... Or 0 for the start balance if it is actually a new account.
4. Enter the end balance from the statement
5. Check entries that match the entries from your bank statement
6. If all entries match, 'Difference' should be 0. If it is, you are done and you have reconciled your account for the period. If you have some transactions unchecked, they will wait for next bank statement to be reconciled. If you have some transactions on bank statement but absent in system, go to the Bank Payments/Deposits and enter missing transactions, then repeat step 5.
7. All checked items are recorded as reconciled in the bank_trans table and the last ending balance and reconciled date is recorded for that account in the bank_accounts table.
8. The next time you reconcile against a bank statement, the ending balance from the last reconciliation is automatically used as the starting balance for this reconciliation. You enter the ending balance for this reconciliation and repeat steps 5-7
9. If you want for some reason to find transactions reconciled with bank statement on given date select the document date with the selector. If you have a lot of bank statements entered you can skip the bank statement selector and enter date of bank statement in Reconcile Date directly. If there is no bank statement reconciled on given date the selector will display 'New'.
