Bank reconciliation

Bank reconciliation compares your books with the bank statement. You tick the vouchers that appear on the statement; when the cleared balance equals the statement balance, the reconciliation is finished. Anything left unticked is a deposit in transit or an outstanding payment.

Go to Bank › Bank Reconciliation and click Reconcile Bank Account. Reconciliation uses the Bank Reconciliation permission.

Reconciling

1. Choose the Bank Account, the Statement Date and the Statement Closing Balance from your bank statement. Click Continue.
2. The screen lists all uncleared deposits and payments dated on or before the statement date, plus the Opening cleared balance (from the last reconciliation).
3. Tick each voucher that appears on the bank statement. Tick shown / Untick shown tick everything in the current search; search by voucher, cheque or reference.
4. Watch the totals: Cleared balance, Statement Balance and the Difference.
5. Save Draft to continue later, or, when the Difference is zero, Finish Reconciliation (needs the approve permission for bank reconciliation, which is also needed to Undo one).

"The difference must be zero to finish." If it isn't, look for vouchers missing from your books (bank charges, interest) and add them with a bank transaction, or for amounts typed wrongly.

All amounts are in the bank account's currency.

After finishing

• The ticked vouchers are locked: they can't be changed or deleted until the reconciliation is undone.
• The reconciliation page shows the Bank Reconciliation Statement: balance per bank statement, add deposits in transit, less outstanding payments and cheques, giving the adjusted bank balance, compared with the balance per books.
• Print it with Print, PDF or Excel.

Rules

• One draft per bank account at a time ("This bank account already has a draft reconciliation. Open it instead."). Discard Draft removes a draft.
• A statement date can't be before the last reconciled statement.
• Undo reopens a completed reconciliation; only the latest one of an account can be undone.
• If a voucher dated on or before the statement date changed after reconciling (for example a payment that isn't locked, such as a POS sale or a journal), it is marked Changed after reconciliation, and only the change is open next time.

Reports

Uncleared Transactions and Reconciliation History are under Reports › Bank.