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'.

Re: Release 2.1 - Bank Reconciliation. How to?

Hi Joe,

I observed that in Demo of FA 2.2RC Bank reconciliation is not working as expected.
in online demo of 2.1.7 it is working fine.

Could you please take a look and help to resolve this ?



Re: Release 2.1 - Bank Reconciliation. How to?

The bugfix has been included in 2.2 final.  Invalid reconciliations made due to the bug in 2.2RC can be fixed manually after selecting '00/00/0000' bank statement date. Thank you for the bug report.

Re: Release 2.1 - Bank Reconciliation. How to?

Hi Joe,
How do I enter interest received in a bank account?  Do I use Deposits and log it to account 4440 Other Revenue>Interest and just enter the amount of the interest and the date?



Re: Release 2.1 - Bank Reconciliation. How to?

Try a Journal Voucher: Debit Bank, Credit Interest Received Income