Initial Setup

The bank balance stored for the Bank Reconciliation Process must be in step with the actual balance at the bank.

Any Transactions which are included in the bank balance in the ledger but have not yet appeared on the bank statement must be recorded as “un-reconciled” transactions in the Reconcile All Screen. The net of these will be the difference between the bank balance stored in the ledger and the actual bank balance according to the bank statement.

To achieve this:

• Click the Set Open Balance button and enter the Current Balance of your bank account according to your bank statement.
• Where there are transactions that represent the difference between the bank balance in the ledger and the “Current Balance” as you have just entered, which are not already included on the list in this screen, click the Add Entry button and add any such transactions.
• Where there are transactions already on the screen that are included in the Current Balance of your bank account (as just entered), delete them [with F3 or the Delete Button].

Click on the “Show Balance” button. The Difference field should now be zero.