Account Reconciliation

The first line shows the closing balance of the Bank/Charge statement that you last reconciled.

Each subsequent line shows an accounting item accumulated in this account that has not yet been checked off against a Bank/Charge statement.

The push-button functions let you carry out all actions necessary to update the account and reconcile it with statements received.

These unreconciled account items are displayed in date sequence and have the following fields:

Statement Number. All the lines of the display will have blanks in this column to show that they have not yet been checked off against any Bank/Charge statement.

Reference. Any two characters that you may want to use to denote a particular type or source of item, eg a cheque number, or AM to denote an American Express charge.

Description. To tell you what this accounting item is.

Debit. A value in this column tells you that this item is money received if this is a Bank account, or a payment to a Charge company.

Credit. A value in this column tells you that this item is a payment out of a Bank account, or an amount charged on a Charge account.

Balance. Starting with the closing balance of the last statement reconciled, all unreconciled debits are added and credits are subtracted giving a running subtotal after every item in the account. If CR appears immediately after a value in this column, it shows that the balance of the account at this point was in credit. If this is a Bank account, a CR balance means that you are overdrawn!

See also:

Reconciling a Bank or Charge A/c

Starting a new Bank or Charge A/c

Statement numbering

Year end actions for a Bank or Charge A/c

Getting the correct opening balance