How to reconcile a bank account

Bank reconciliation aligns your monthly bank statement with your recorded cash transactions in Accountability. It verifies all cash transactions are logged, accurately mirrors your actual bank balance, and ensures accurate financial reporting.

Steps: 

1. Navigate to ACCOUNTING > General Ledger > Bank Reconciliation. 
2. Select a BANK ACCOUNT NO.
3. Enter or select a BANK STATEMENT DATE.
4. Enter the BANK STATEMENT BALANCE - the balance according to the Bank Statement for this account at the date selected.  If detailed bank transactions have been imported into the platform, this field is automatically populated. 
5. Once entered,  the UNRECONCILED AMOUNT  will automatically be calculated. This is the difference between the GL Bank Balance and the Bank Statement balance for the date(s) specified.