Reconciling your bank statements
Once you have added a bank statement and imported the transactions, click on the "Reconcile" button at the top right to see the reconciliation page.
You will see your balances at the top, then two columns. The left column contains your statement transactions, green are income and red are expenses, and the right column is where you reconcile them.
There are 4 tabs:
- Create - click this if you don't have an income/expense already in the system for this transaction and the system will create one and reconcile it.
- Match - click this to match the statement transaction to an income/invoice already in the system
- Split - click this if you want to split this statement transaction over more than one income/invoice
- Transfer - click this if you want to mark this transaction as a bank transfer
When you click either Match or Split on an income transaction, you wil see a drop down option to select the relevant record. Click on the "Include older" link if the income/invoice is a really old one that you want to reconcile and the system will list all invoices/income, not just the recent ones.
To use the reconciliation functions, you need to add or import your bank statements. Once you have added a statement, click on the "Add Transaction" button or the "Import Transactions" button to add your statement transactions. Click on the ...
At least one bank account must be added before you can start reconciling your bank statements. The opening balance field must be the actual opening balance of the bank account for the month that you start using the accounting features. You only need ...
Income is any amount that comes into your club bank account. income is added automatically when you are reconciling invoices. Click on the "All" button at the top to filter by reconciled or un-reconciled income. The account code can be anything you ...
An expense is any amount that comes out of your club bank account. Expenses are added automatically when you reconcile Purchase Invoices. Click on the "All" button at the top to filter by reconciled or un-reconciled expenses. The account code can be ...
The bank reconciliation report allows you to view the balances and income/expenses for a given period in a given bank account. Click on the printer icon to print this page.