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