Bank reconciliations compare your records with the bank’s records – making sure they match. These are usually done on a monthly basis when you receive your bank statement.

Create Reconciliation #

1. Navigate to Bank→ Bank Reconciliation.
2. Click Create.
3. Choose the Bank Account from the drop down list.
4. Enter the Statement Date.
5. Enter the Beginning balance reported by the bank on the statement.
6. Enter the Ending balance reported by the bank on the statement.
7. Click Refresh to see the transactions recorded in AccountingSuite during this time span.
8. For each transaction listed, find it on the statement and click Cleared.
9. Compare the figures at the bottom of the screen to ensure that the difference is equal to zero.
10. Click Post and Close to save the Reconciliation or Save to save a draft.

Status indicators #

“Completed” and “Pending” are status indicators commonly used to describe the progress of orders, projects, or tasks within a system

• Completed: This status indicates that all actions or requirements related to an order or task have been fulfilled, and it is now fully finished.
• Pending: This status indicates that an order or task is still in progress, with some actions or requirements yet to be completed, meaning it is not finalized.