The process of reconciliation ensures the accuracy and validity of financial information. Follow the instructions below to reconcile an account. In order to be reconciled, an account must be set as a "Bank Account" in the Options dropdown when editing that account.
- Navigate to Accounting, click Banking, and then select Reconcile.
- Locate the account and then click Reconcile.
- Enter the Reconcile Date and the Bank Balance amount and then click Continue.
- Enter an amount into the Beginning Balance field and then click Continue.
This section needs to be completed only when reconciling an account for the first time.
- Click the plus icon to add any prior uncleared transactions.
- Click Reconcile.