Saturday, December 29, 2018

Bank Reconciliations for Existing Accounts

To start reconciling an account with an existing balance you will need to create a dummy reconciliation dated prior to the month you want to begin.  When creating the 'dummy' reconciliation be sure to set the 'Ending Statement Balance' to the correct opening balance for the next month and mark off the 'Reconcile' option for all transactions that have already cleared.


When using Reconcile Bank Statement page, make sure to uncheck the feature Use Imported Statement Reconciliation Form in the Bank Account and check this if you want to use the Reconcile Account Statement page.

Steps to create a dummy reconciliation:
1. Navigate to Transactions > Bank > Reconcile Bank Statement/
Reconcile Account Statement
2. Select an Account
3. Enter the Statement Date
4. Deposits and Credits sublist > Mark off Reconcile if there are transactions to be reconciled
5. Enter an Ending Statement Balance
6. Click Save

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