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The reconciliation wizard |
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This will open the reconciliation wizard with the first page informing you of what will happen briefly. Click on Next to actually start the wizard.
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.
If the statement reconciliation is on a bank account or any account with interest and/or charges then enter these values in the required fields. A category can be assigned to the transactions.
The interest field is for interest you gained. If you have to pay interest for e.g. a credit card account, this has to be entered as charge.
Click on Finish to start matching your statement to what you have entered.
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. The command frame lists the statement amount and the cleared amount. When the difference is zero then the account is reconciled and you can click the Finish button to save the transactions. To postpone the reconciliation to a later time click on the Postpone button. During the reconciliation any transaction can be edited to make it match the statement and new transactions can be created as usual. After clicking on the Finish button the transactions are marked as reconciled and the C column changes to 'R' to reflect the change.
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