Bank Account Reconciliation Overview

The goal of reconciling is to make sure the records in AptaFund match your bank account statement.

About bank account reconciliation

Bank accounts must have been set up and have opening balances in order to be available for reconciliation.

If you have missed several months, the best way to catch up is to reconcile each month separately until you are current. Then if you find discrepancies, it will be easier to find the source.

Features of the Reconcile Bank Account window

If you need to close the Reconcile Bank Account window in the middle of reconciling, you can click Finish Later, and AptaFund will save your changes.

The Reconcile Account window does not display previous reconciliations. To view a previous reconciliation, run the Bank Account Reconciliation Report.

Click here for a description of the Reconciliation Summary  fields at the top of the Bank Account Reconciliation window.

This window has two optional system grid display settings available in the menu — Only Show Unreconciled Transactions and Show All Transactions. The default is to only show the unreconciled transactions.

Journal entries & reconciling the bank account

If you are increasing cash, debit cash and credit expense or revenue. For example, when making a journal entry for interest, debit cash and credit revenue. If making an entry to void a prior year check, debit cash and credit expense.

If you are decreasing cash, credit cash and debit expense or revenue. For example, if you're entering a bank charge, credit cash and debit expense.

Cash-related journal entries are added by default to the bank register when they're posted, eliminating the need to manually pull them into the register when reconciling. These journal entries are included in the Reconcile Bank Account window with the status Outstanding. Click here for more information.

Out of balance

If the Difference field in the Reconciliation Summary isn't 0.00, click here for information on correcting the differences.

What if the bank account is out of balance with the general ledger? Click here for information on researching this issue.

Use the Bank Account Reconciliation window to:

• reconcile the accounts with your bank statements

• view source records by clicking the Source Reference hyperlink

• add journal entries to enter fees, adjustments, and transfers as needed

• remove journal entries on the Pending Transactions tab from the bank account register

• add journal entries from the Journal Entries not in Register tab to the bank account register

• undo reconciliations

Return to Banking Overview