Bank reconciliation
Checking off your recorded transactions against a bank statement until the difference is zero, then locking that statement.
In Solo Superstars
Open Accounting › Reconcile, pick the account, enter the statement ending balance and date, and tick each line that appears on the statement. When Difference reads 0.00, lock it. Alison pre-ticks lines she matched on import, so most months are a review, not a hunt.
Example
July statement ending 9,650: 41 lines cleared, difference 0.00, locked on August 3.
Codes shown are the defaults a new workspace starts with. Yours may be renamed or renumbered — check Accounting › Chart of accounts. See the full default chart.
Also called
- reconcile
- rec
- QuickBooks: reconcile
Related
- Statement ending balance — The closing balance printed on the bank statement you are reconciling against. The target the cleared lines must reach.
- Cleared — A transaction you have matched to a line on the bank statement during reconciliation.
- Difference — During reconciliation, the statement ending balance minus what you have cleared. Zero means you can lock.
- Reconciliation lock — Finishing a reconciliation at difference zero freezes its cleared lines so they cannot be changed without reopening.
- Reconciliation report — The record of a finished reconciliation: statement balance, cleared lines, uncleared lines, and who locked it when.