To ensure the accuracy of your business records, you should match your bank and credit card accounts’ balances with the bank and credit card transactions in your company file. This task is called reconciling accounts.
The Reconcile Accounts window is where you reconcile your accounts and verify that balances of credit cards and loans are correct.
Enter the account you want to reconcile, or click the search arrow to display a search list of accounts you can select from.
If you’ve previously reconciled this account, the date this account was last reconciled appears in this field. This field is updated with the date you enter in the Bank Statement Date field when you complete the AccountRight reconciliation process.
Enter the date that appears on your bank statement. Your entry here will be used to update the Last Reconciled Date field when you complete the AccountRight reconciliation process.
The calculated balance is the total of all previously cleared and reconciled transactions prior to the date that is entered in the Bank Statement Date field. (If the account has never been reconciled this field shows the opening balance for the account.)
This field displays the difference between the amount in the Calculated Statement Balance field and the amount in the New Statement Balance field. This amount must be 0.00 to successfully reconcile the account.
This column is where you select transactions for reconciliation. If a transaction in the list appears on your bank statement, select it for reconciliation by clicking in this column. If a transaction is selected and it doesn’t appear on the bank statement, deselect it by clicking in this column.
Note that if you download your bank statement using the Get Statement feature, many transactions will be automatically matched and selected.
This column displays the unreconciled transactions dated on or before the bank statement date you specified in the New Statement Balance field.
Click to open a shortcut menu of common actions and tasks associated with bank account reconciliation. Actions available from the menu are grouped into areas such as bank account reconciliation tasks, spend and receive money tasks, and banking information review tasks.
Choose a task from the list. For example, if you choose View Bank Register, the Bank Register window appears with the selected bank account already assigned to the window.
Click Cancel to close the window without reconciling.
