The “Transactions to Clear” tab contains both the transactions in the grid as well as the running balances for this account.
The transactions in the grid are all uncleared transactions for this bank account that fall within the date ranges in the setup. A transaction must match all those criteria to appear.
There are two different rows for balances at the bottom:
» On Statement—These numbers are coming directly from the statement setup. The beginning and ending balances you typed in and the checks, deposits, and journals are the totals of the transactions appearing in the grid.
» In Finance—These are balances that you currently have in Finance. So, the beginning balance is the current balance for this bank account as seen on the accounts grid. The checks, deposits, and journals are the totals of ALL uncleared transactions in the fund (including prior years). So, the more uncleared transactions you have through the years in Finance the higher these totals will be. Finally, the ending balance is simply the beginning balance less those uncleared transactions. Handled correctly, these numbers can help you discover transactions that were never cashed or deposited.
- To clear a transaction, click the check box in the center of the grid. When you do this, you will see the “On Statement” balance for that transaction type change along with the “Difference” total.
- As you continue to clear transactions, the “Difference” total will get closer and closer to $0.00.
- The reconciliation is ready to Post once all transactions from the bank statement have been checked and the “Difference” is $0.00.
- To post this reconciliation, click the Post button. The status in the registers for these transactions does not become “Cleared” until you Post.
- If you wish to print the reconciliation, answer yes to the first question. To finalize the post, click yes to the second question.
- If you are having trouble getting your “Difference” to $0.00, turn to the next page to see some of the troubleshooting options.