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The reconciliation wizard

This will open the reconciliation wizard. The first page of the wizard briefly describes the process you will follow. Click on Next to actually start the wizard.


Reconciliation wizard

Statement details

The statement date, starting balance, and ending balance can be found in your statement. Make sure that the figures match and click on the Next button. If the figures do not match then enter the figures as listed on your statement and click on the Next button.


Reconciliation wizard

Interest

If the statement reconciliation is on a bank account or any account with interest and/or charges fees, then enter these values in the appropriate fields. A category can be assigned for each of these amounts.


Reconciliation wizard

Note

The interest field is for interest you gained. If you have to pay interest, e.g., for a credit card account, this has to be entered as a charge.

Click on Finish to start matching your statement to what you have entered. Note that this completes the Reconciliation Wizard, but not the process of reconciliation. As described below, you still need to clear transactions and then tell KMyMoney that the account is reconciled.

Clearing transactions

To mark a transaction as cleared, click on the C column in the list view. A transaction is cleared when it matches the transaction on your statement.

During the reconciliation, any transaction can be edited to make it match the statement, and new transactions can be created as usual.


Reconciliation wizard

Completing Reconciliation

Finishing Reconciliation

The command frame (just below the transaction list area) displays the statement amount and the cleared amount. When the difference is zero then the account is reconciled and you can click the Finish button. When you do this, KMyMoney takes all the transactions which have been marked as cleared and marks them as reconciled, and the C column changes to 'R' to reflect the change. In addition, it saves the changes and records that the account has been reconciled.

Postponing Reconciliation

To postpone the reconciliation to a later time, click on the Postpone button. Any edits you have made to any transactions, such as marking them cleared, can still be saved before you exit KMyMoney, but you will have to run the reconciliation wizard again in order to reconcile the account. If you exit KMyMoney before clicking either Finish or Postpone, it has the same effect as clicking Postpone.