Reconciliation Basics

When you start a new month’s reconciliation, first verify the Beginning Balance matches the beginning balance on your bank statement (1). If it does not, then something is wrong or was changed in a previous month’s reconciliation. If the beginning balance does not match, you may not be able to reconcile the current month. Follow the tips in the Beginning Balance section of the Reconcile Bank Statement help topic to find the problem.

If the Beginning Balance does match your bank statement, proceed with the reconciliation. Enter the Ending Balance from your statement on the Reconcile screen (2).

Click Clear for the deposits that have cleared on your bank statement. When complete, the Cleared Subtotal (3) should match the deposits total from your bank statement.

Last, click Clear for the payments that have cleared on your bank statement. The Cleared Subtotal (4) should match the checks and other deductions total from your bank statement.

The difference should be 0 when everything is correctly reconciled.

Click Finished to complete the reconciliation.