Create a New Reconciliation

Reconcile an account’s transactions as shown on a specific month’s statement and including any uncleared transactions.

  1. Click on the “Financials” tab on the vertical Dashboard menu at the left side of the screen.
  2. Click on the “Reconciliations” tab.
  3. In the “RECONCILIATIONS” window that opens, click on the “+Add New Reconciliation” button at the top right.
  4. In the “RECONCILIATION DETAILS” window that opens, click on the “Account” dropdown menu and choose the account you wish to reconcile.
  5. In the “Ending Balance” box, enter the amount that the account should contain after all relevant cleared and uncleared transactions have been added to or subtracted from the balance on your statement.
  6. Click in the “Ending Date” box and select the effective date of the ending balance. This may be the same as or different from the date of your statement.
  7. When you are happy with your reconciliation setup, click on the “Save” button to proceed.
    • To exit the “RECONCILIATION DETAILS” window without creating a reconciliation, click on the “Cancel” button, press the “Esc” key, or click on the “X” in the top right corner of the window.
  8. Once you have saved your reconciliation setup, the reconciliation details screen appears. At the top, an information overview displays the beginning balance for the account, the sums of all payments and deposits, and the sum of all cleared transactions. It also displays the ending statement balance, the sum of all uncleared transactions, and the book balance of the account. Finally, it shows the difference between the ending statement balance and the book balance. If the difference between the ending statement balance and the book balance equals $0, click on the “Finish Reconciliation” button to complete the process and return to the “RECONCILIATIONS” window. If the difference does not equal $0, or you need to make other adjustments to the reconciliation, click on the “Save & Finish Later” button to return to the “RECONCILIATIONS” window.
  9. Below the information overview, the reconciliation details screen lists the transactions you have recorded as paid through this account during this reconciliation period.
    • To view only payments, click on the “Payments” button above the list of transactions. To view only deposits, click on the “Deposits” button. To view all transactions, click on the “All” button.
  10. The list of transactions displays the transaction date, type, account, payee, and amount. The “Actions” column’s three-dots menu enables you to edit or delete an individual transaction.
    • To clear a transaction and apply it to the reconciliation, activate the checkbox shown after its amount. To clear all transactions in the list and apply them to the reconciliation, activate the checkbox shown after the “AMOUNT” column header.
    • Below the list of transactions, the “+Add Transaction” button enables you to open the “ADD TRANSACTION” window and enter the details of an additional transaction. If you create a new transaction and designate it as having been paid through the account you are reconciling during the reconciliation period you are editing, the transaction will appear in the transaction list after you finish creating it.
  11. To return to the “RECONCILIATIONS” window, either finish the reconciliation or save it to complete later.