Bank Acc. Reconciliation Table

List of Fields in the Table

If you have set up bank accounts in your program using the bank account feature, the Bank Account Reconciliation feature enables you to easily verify that your bank account records are in agreement with those of the banks at the end of a specific period.

The transactions on the bank's statement must be entered on the reconciliation lines. You can choose to have the program fill in the reconciliation lines for you as a suggestion (see 4. below). This feature can also help you in posting the transactions recorded by the bank that you have not yet recorded. All the transactions on the bank's statement must then be applied to the bank account or check ledger entries on the relevant bank account. When the bank reconciliation balances, you can post it.

After you post the bank reconciliation, the program creates a Bank Account Statement and inserts the ending balance of the bank account on the relevant Bank Account card. This allows you to keep track of all bank account transactions and maintain an updated file of your bank account statements in the program.