Article ID: 8646

Bank Reconciliation - Overview

When you complete a Bank Reconciliation in the program, you compare checks and receipts that you post to the Bank Journals to the items that appear on your bank statement. Essentially, you compare your records (Bank Journals) to the bank's records (bank statement) and reconcile any discrepancies between the two.

Take the following steps to reconcile your bank accounts in the program:

  1. Obtain and prepare the documents you need to reconcile the bank account
  2. Open the Bank Reconciliation Tool
  3. Enter Prior Items if this is the first reconciliation for the account
  4. Enter any known bank errors
  5. Mark all items that clear the bank
  6. Troubleshoot any discrepancies that exist after you mark all cleared items
  7. Print the Bank Reconciliation Report
  8. Close the Bank Reconciliation Tool