How do I Reconcile my bank account?

Before proceeding please make sure you have brought over your opening balance entry for your bank and reconciled it. Read here: How do I begin my bank reconciliation?/Upload Opening Bank Statement

Now, to reconcile your bank account:

  1. Navigate to Accounting → Bank reconciliation → Reconcile Bank Account.
  2. Select the ending/closing date and enter the ending/closing amount.
  3. Click “Start Reconcile”.
  4. The left-hand side represents the bank transactions (if you have imported the bank statements) and the right-hand side represents the system transactions.
  5. Match the transactions and click on ✓ to confirm/reconcile.
  6. In case the system suggests similar transactions, select the correct transaction from the pop-up window and confirm.
  7. Continue with any remaining transactions.
  8. If all the transactions are correctly reconciled, the ‘Difference’ amount on the top right corner of the page will be 0 and the starting balance will equal the ending balance.
  9. Click finish and a pop-up window will appear offering you to view a detailed report of your reconciliation.
  10. Repeat the above steps for the next reconciliation you want to perform.

Video tutorials:


Was this article helpful?

Related Articles