How to Reconcile transaction with your statement
The reconcile process can be done quite easily use the existing features and as so, it has no dedicated feature or dialog.
- Step 1: Get your statement
- Step 2: Open the corresponding account
- Step 3: Change to sort the transaction list by ascending date
- Step 4: Ensure the date range will not hide transactions
- Step 5: Ensure there is no reconciled transaction past the statement start date
- Step 6: Ensure the Bank balance of the account is equal to the initial amount of your statement
- Step 7: Change the Status quick filter to [Unreconciled]
- Step 8: Check and mark each transaction as Reconciled
- Step 9: The Bank balance should match your statement end balance
Check and mark each transaction as Reconciled
One transaction at a time:- change the transaction status to [Reconciled]
- after each, ensure that the Bank balance is still on track with your statement
- if not, try to find what is wrong before continuing
you may have ticked the wrong transaction, or amount is not correct
If the balance are not equals at the end ?
Here's a few tips on how to manage the decay that may occur during or at the end of the reconcile
- change the filter to [All range] [Any type] [Any status] to help finding transaction
= this icon shows the transaction you have changed- measure the decay, it might just be a single transaction missing and try to find it
Finally, it is sometimes easier to go back and start reconcile at the beginning.