Account Reconciliation (bank matching)

Reconciliation checks that the account balance in the system equals the bank statement, and reveals missing or duplicate transactions.

1Open the screen

From the menu: Banking → Account reconciliation.

2Choose the account and period

Choose the Cash account (1020 Current account, for example) and the Accounting period, with the bank statement for the same period in front of you.

3Enter the statement balance

At the bottom, type the statement's closing balance in Statement ending balance.

4Tick the transactions on the statement

Tick Cleared next to each transaction that appears on the bank statement. The Unreconciled difference changes with each tick.

5Save

When the Unreconciled difference = 0, click Save.

⚠ If the difference doesn't reach zero, check your ticks against the statement — usually there is a bank transaction not recorded in the system (a bank fee, for example) or the other way round. Record it with an entry and reconcile again.