Reconciling proves that your books agree with your bank statement for a period, then locks that period so it can’t drift. From the register, click New → Reconciliation to open the reconciliation overview, which lists every account and its reconciliation history.
Starting a reconciliation
- On the reconciliation overview, find the account and click New reconciliation
- Upload your bank statement PDF (or use Continue without a statement)
- Set the Closing date and Statement closing balance from the statement. The opening balance carries over from your last reconciliation
Working through the statement
Check off every transaction that appears on your statement. As you go, the summary card shows your Cleared total and a Difference.
The Difference is what’s left between your statement and your books. It turns green at $0.00, which means everything lines up. Anything you don’t check off stays outstanding and carries into your next reconciliation (uncashed checks, deposits still in transit).
When the difference reaches $0.00, click Finalize.
Reviewer sign-off
If your organization has reviewer roles, the reconciliation is marked Finalized and waits for their signature. Each reviewer opens it and clicks Sign this reconciliation. Once everyone has signed, it’s marked Official. If no reviewers are set up, it counts as signed the moment you finalize.
Download the record any time with Download summary PDF from the finalized view. It’s stamped OFFICIAL once all reviewers have signed.
Your first reconciliation
The first time you reconcile an account, New reconciliation takes you to a one-time Set up starting point screen. Mark everything through the date you last trued up your books as cleared, uncheck anything still outstanding, and set your starting point. This lets you bring years of history current in one pass.
Notes
- Finalizing locks the period. Transactions dated in a finalized period can’t be edited or deleted. Use Un-reconcile on the most recent reconciliation to reopen it.
- If your statement PDF has selectable text, you can click a line on the statement to check off the matching transaction.