Complete the First Bank Reconciliation
Go to Bank Reconciliation.
Click Manual Reconciliation.
Select the relevant Bank Account.
Select the Period you are reconciling the bank for.
Enter the Date you are reconciling your bank statement to.
Enter a Statement Reference Number.
This will increment by one automatically, but you can update the statement reference if required.
Enter the Opening Balance from your bank statement.
For the first bank reconciliation, this is the opening balance on your first statement.
After the first reconciliation, the Closing Balance from the previous statement becomes the Opening Balance for the next statement.
Enter the Closing Balance from your bank statement.
Click Next.
Select all relevant Transactions that appear on the bank statement.
Click Reconcile.
If You Cannot Reconcile the Bank
You will not be able to reconcile a (Manual) Bank Reconciliation because the Running Total in the top right of the Reconciliation screen is not the same amount as the Closing Balance.
You will be able to click Reconcile once both of these values are equal.
The Running Total begins as the Opening Balance and changes value as items are selected on the reconciliation.
If you cannot reconcile the bank:
Check that the Closing Balance you entered matches the Running Total shown on screen.
If there is a discrepancy, make sure:
All relevant transactions are selected in the reconciliation.
All transactions from the bank statement have been entered into the software.