Task 3: Reconcile

To reconcile the account

1	Go to the Banking command centre and click Reconcile Accounts. The Reconcile Accounts window appears.

2	In the Account field, select the bank account you want to reconcile.

3	In the New Statement Balance field, type the closing bank balance as of the day prior to your conversion month (for example, the closing balance as of 12/31/2008).

4	In the Bank Statement Date field, type the first date of your conversion month. (For example, if your conversion month is January 2009, enter 01/01/09.) Your uncleared transactions appear.

When you recorded uncleared transactions, the same account was debited and credited with the same amount. Therefore, an uncleared transaction appears as both a deposit and a withdrawal.

5	For each uncleared withdrawal, click the select column next to the deposit.

6	For each uncleared deposit, click the select column next to the withdrawal.

When each uncleared transaction is selected, $0.00 appears in the Out of Balance field.

7	Click Reconcile. A confirmation window appears.

■	To print a report, click Print Report. When the report is printed, click Reconcile.

■	To reconcile without printing a report, click Reconcile.

■	To change any details you entered in the Reconcile Accounts window, click Cancel.

Related Topics

■	Do an initial bank reconciliation

■	Reconciling your bank accounts

■	Month-end procedures