Understanding account reconciliation

When you receive a statement from the bank, you can reconcile your checking accounts against the transactions on the statement. Use the Bank Reconciliation (BANKREC) page to mark withdrawals and deposits within the statement period as cleared, and to enter miscellaneous transactions such as interest, finance charges, direct debits, and so on. After you mark withdrawals and deposits as cleared and enter miscellaneous transactions, Made2Manage shows you unreconciled transactions that require attention.

What transaction types can I reconcile?

You can also reconcile a cash account balance with the bank statement’s ending balance. this ensure that your cash account balance, including transactions after the bank statement period end date, the bank statement’s ending balance.

Before balancing your accounts for the first time, set a clear date to clear all checks created before the earliest check on your bank statement. This prevents transactions entered before the clear date from appearing as unreconciled in the Bank Reconciliation (BANKREC) page. The clear date you select is also used as the default Date Range: From date for existing receipts on the Deposit Master (DEPOSIT) page. This prevents you from seeing paid receipts not deposited before the clear date.

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