Reconciling a bank account

Reconciling proves that your books and the bank agree on the same date.

Steps

1. Start a reconciliation. Enter the statement end date and the ending balance printed on the statement.
2. Clear each item that appears on the statement. Automatic clearing handles exact matches; check the rest by hand.
3. Watch the difference. It must reach zero.
4. Finish. The cleared items are locked to this reconciliation.

If the difference will not reach zero

• An item on the statement is missing from your books: import or enter it.
• An item in your books has the wrong amount or date.
• The opening balance differs from the last statement. Check the previous reconciliation.

Cancel and undo

You can cancel a reconciliation in progress. A finished one can be undone while no later one exists. Both are written to the edit history.