Help · Money

Reconcile your bank account

  • For: Accounts staff and the owner
  • Time: About 20 minutes
  • Part of: Money

Before you start

  • Your statement for the month, with its closing balance.

Steps

  1. Click Money > Bank reconciliation, then Start reconciliation.

  2. Choose the Account. Type the Statement date and the Statement balance. Click Start.

    A bank reconciliation in progress with statement balance, cleared lines, difference and a list of lines not yet on the statement
    1. Statement balance and difference
    2. Load statement
    3. Lines to tick and Mark cleared
    4. Complete
    Demo data

    You should see: A page showing Statement balance, Cleared lines, Difference and Books say.

  3. Click Load statement to match lines for you. Or tick the lines that are on your statement.

  4. Click Mark cleared. To clear everything up to the statement date, use Clear up to date.

    You should see: Cleared lines goes up and Difference goes down.

  5. Check In the books, not yet on the statement. These are items still on the way, such as a deposit.

  6. When Difference is zero, click Complete.

    You should see: The reconciliation shows as completed. It is final.

If something goes wrong

The difference will not reach zero

A bank charge or interest may be on the statement but not in your records. Record it as an expense first, then clear it.

I started on the wrong account

Click Discard and start again with the right account.

A line is on the statement twice

Check it really is two payments. If not, ask your bank. Do not clear it twice.

Still stuck? See Fix common problems.

Next steps