Bank reconciliation is the process that explains the difference between the balance shown on your bank statement and the balance shown on agrē's balance sheet for the same date.
I want to read the Initial Bank Reconciliation white paper (with screen shots).
What you'll find:
To reconcile a bank account balance
Navigate
to General Ledger > Bank Reconciliation.
The Bank Reconciliations window opens.
In
the Choose Account box, enter the bank
account that you want to reconcile.
Only GL accounts flagged as reconcilable
and that you have permission
to reconcile will be listed.
Click
Retrieve.
A list of previous bank reconciliations appear in the grid.
Click
Add.
The Bank Reconciliation window opens.
Note
Any pending reconciliations for an account must be completed before a new one can be added.
In the Statement Balance box, enter the ending/closing balance from your bank statement.
In the Statement Date box, enter the ending/closing date of the bank statement.
Click Display Transactions.
In the Cleared column, check the box for each transaction that matches with your bank statement.
Tip
If additional journal entries are required to reconcile (e.g. to add a bank service charge), you can click Add Journal Entry and add them from here.
Click Save Cleared Items.
If the Difference is not $0, the Continue? window opens and you are asked "Do you want to continue to work on the reconciliation?"
Click Yes if you want to continue clearing items now.
Click No if you want to return later where you left off.
Tip
To see a list of transactions that are cleared so far, select the pending bank reconciliation and click Preview Item to view the Bank Reconciliation report.
If the Difference is $0, you will be asked if you would like to Finish the reconciliation.
If you change your mind, you can Undo the reconciliation.
Because you may not have time to complete an entire reconciliation at once, agrē allows you to 'save as you go' without having to reconcile the entire balance.
If you saved your bank reconciliation “in progress” by clicking the Save Cleared Items button, you’ll need to return to the Bank Reconciliation window once you’re ready to finish the reconciliation.
To complete a bank reconciliation at a later time:
Navigate
to General Ledger > Bank Reconciliation.
The Bank Reconciliations window opens.
Select the same bank account and click Retrieve.
Select
the pending bank reconciliation
and click Complete.
The Bank Reconciliation window opens.
Click Display Transactions.
In the Cleared column, check the box for each transaction that matches with your bank statement.
Tip
Sort by the Cleared column (click the column header) to move items you've already checked to the bottom of the list.
When
your reconciliation is complete and the Difference
is $0, click Finished
to reconcile.
The ending balance from this reconciliation will be the starting balance
of the next bank reconciliation.
If you change your mind, you can Undo the reconciliation.
Click
Yes to view the Bank
Reconciliation report.
or
Click No to complete the reconciliation
without viewing the report.
Tips
To see a list of cleared transactions at
any time, select a finished bank reconciliation and click Preview Item to view the Bank
Reconciliation report.
To view a list of unreconciled transactions, navigate to General Ledger > Reports and run
Unreconciled
Bank Transactions.