What this screen is for
Reconciling means agreeing what your books say about a bank account with what the bank's own statement says for the same period. This screen lists the reconciliations you have started, with the bank account, the statement period, the statement closing balance, the remaining difference and the status. Counts of total, completed and in progress sit above the list, and you can search or filter by bank account and status.
When to use it
Work through a reconciliation at the end of each statement period. A difference that will not clear usually points to an entry missing from the books, a duplicate, or a payment recorded on the wrong date — which is exactly what the exercise is meant to surface.
What you see on this screen
Three cards, counted across every reconciliation rather than the page on screen: Total Reconciliations, Completed and In Progress. The table carries:
- Bank Account — the account being reconciled
- Period — the statement start and end dates
- Statement Balance — the closing balance the bank's statement shows for that period
- Difference — what is still unexplained between the statement and the books; a finished reconciliation reads zero
- Status — In Progress, Completed or Cancelled
- Actions — Continue on one in progress or View on a finished one, and Remove on a cancelled one
Remove appears only on a cancelled reconciliation, because cancelling is what releases its transactions back for use.
Filters and actions
Search by bank account, bank name, or status runs on the server, so it finds matches on later pages too; the cross clears it. All Bank Accounts and All Status narrow the list further. New Reconciliation in the header starts one.
Status values
- In Progress — started; its transactions are held while you work through it
- Completed — finished and agreed
- Cancelled — abandoned; its transactions have been released and the row can be removed
Related
- Bank Statements — import the statement before reconciling
- Bank Book — the movements making up the balance being reconciled