Section 13: Accounting Register

Register - Reconcile

When you receive your bank statement and are ready to verify that all your checks and deposits have been properly entered, begin the bank reconciliation process. 

1)   At the Register tab, click the Reconcile button or click Balances: Reconcile Bank.

2)   The Reconcile Bank Statement window will open. 

Section One

a.   Enter the Opening Balance

b.   Enter the Closing Balance

Section Two

c.   Verify the Fiscal Year beginning date

d.   Enter the statement date

e.   Enter the amount of interest earned

f.    Enter the ATIG/D code or click the Interest ATIG/D button to select the appropriate code from the list. 

g.   Enter the amount of the service charge shown on the bank statement

h.   Enter an ATIG code or click the Charge ATIG/D button and choose from the list.

Click OK to continue the reconciliation. 

3)   The next window will show as a new Reconcile tab along with Register, Checks, Paychecks, Deposits, and Invoices.

The un-cleared checks are shown on the left side of the window and deposits are shown on the right side of the window. 

At the bottom of the window are the Opening Balance and Closing Balance amounts you entered in the previous screen. 

    The Amount Remaining is the amount of un-cleared checks and deposits.  The statement is reconciled when the amount remaining is zero.

    Clear the checks and deposits by clicking in the Clr column and making a check mark beside transactions that have cleared the bank.

    As you clear the transactions, the total of Checks and Deposits is calculated beneath the columns so you can verify these totals against the totals on bank statement.

Menu choices for the Reconcile tab are:

New - You can enter a new check, pay check or deposit from this menu choice in the event you find a transaction that was not entered. 

Edit - Edit a transaction if it is not correct.  Place the cursor on the transaction to select it, and then click Edit. 

Delete - Delete a transaction.  Place the cursor on the transaction to select it, and then click Delete.

Statement - Opens the Reconcile Bank Statement window to make changes to the information you previously entered in this window.  The information entered in this window is shown at the bottom of the Reconcile tab.

View - When a menu selection is selected, it will have a check mark beside it.  If you select Sort by Date, the transactions will be sorted by date.  If Sort by Number is selected, transactions will be sorted by check/deposit number.  Select Show the Check Payee to see the Payee column in the checks column and select Show Deposit Vendor to see the Vendor column in the deposit window.

Finish - Choose this option to finalize the reconciliation.  When the reconciliation is final, checks and deposits that have been cleared and do not appear in the reconciliation window again. 

Close - Will close the Reconcile tab but not finalize the reconciliation.