Reconcile a Bank Account

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

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.

Click here for more information on Bank Account Reconciliation.

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

Reconcile a bank account

1. Select Bank Account Reconciliation from the Banking menu, and that window opens.

2. Select the bank account you want to reconcile, and click Reconcile Bank, or click the Current Balance link. The Reconcile Bank Account popup opens. Note: The Last Reconciled date is read only and is the ending date from the previous reconciliation, and the Last Reconciled Balance is read only and is the ending balance from the previous reconciliation.

3. Enter the Statement Ending Date, or click the to select it.

4. Enter the Statement Ending Balance. The window then displays the transactions for the selected period. Example

Review items on the Pending Transactions tab

1. Review the items on the Pending Transactions tab.

2. Use the Add Journal Entry command to enter fees, adjustments, manual checks, and transfers as needed. Click here for instructions.

3. Check the box for any journal entry you want to remove from the register, and click Remove Journal Entry From Register. You're asked to provide a reason to be used as an audit trail.

4. Enter the Reason, and click Yes. The journal entry is removed from the register and from this window.

Review items on the Journal Entries not in Register tab

1. Review the items on the Journal Entries not in Register tab to bring in any cash-related journal entries. Note: This tab contains records previously entered through the Journal Entry window prior to the September 2019 release and any journal entries marked to not be included in the bank register.

2. Check the boxes for any transactions you want to add to the register, and click Add to Bank Account Register. You're asked to confirm the action.

3. Click Yes. The journal entry is added to the bank account register and transferred to the Pending Transactions tab.

Select the items to clear & finish

1. On the Pending Transactions tab, check the box(es) for transactions that have cleared the bank.

   • If most transactions have cleared, click the checkbox at the top of the grid to select all, then uncheck the boxes for the uncleared transactions.

   • To clear individual transactions, check the box for the transaction, then Tab down the column pressing the spacebar to clear individual transactions.

   • If you find you've marked an item that shouldn't be cleared, check its box, and click Unmark.

2. When you've selected all the transactions to clear, click Mark. The Reconcile Bank Account results popup opens displaying successes & failures.

3. Click Close when you've finished reviewing the results.

• AptaFund calculates the amounts for Cleared Deposits, Cleared Withdrawals, Cleared Bank Balance, and Difference.

• The transactions you've marked will be designated as Cleared in the Status column in this window and in the Bank Account Register window.

4. When the Difference field is $0.00, check the G/L Difference. This figure is the difference between your reconciled bank register and you general ledger. If there's a difference, you can investigate in this window or by using the Bank Account Reconciliation report. Click here for more information.

5. When the Difference field is $0.00, click Finish to complete the reconciliation.

• The Difference field will display $0.00 when (Beginning Balance – Total Cleared Withdrawals + Total Cleared Deposits) – Ending Balance = 0.00

• A Result window will open displaying successes and failures.

• Remember: You can click Finish Later to save your work and return at a later date.

6. Click Close when you're done reviewing the results.

If you can't get the Difference field to $0.00, you'll need to find and correct the discrepancies. Click here for help.

Return to Bank Account Reconciliation Overview