Case category//How do I...//banking/reconciliation
Author:
anth.richardson@sage.com
Reconcile your bank account
Description
To ensure your transactions and bank balances in Sage 50 Accounts are accurate. Reconcile your bank account each time you receive a statement from your bank.
TIP:If you use an online banking service, you may be able todownload your bank transactions instead of entering them manually.
Select the first transaction that appears on your bank statement.
ClickMatch >>
The transaction moves from the Un-matched transactions pane to the Matched transactions pane.
Repeat Steps 1 and 2 until all transactions match your bank statement. TIP:To select more than one transaction you may need to hold down theCtrlkey. You can amend your settings to allow you to select multiple records just by clicking on them.Read more >
If you haven't entered a transaction into Sage 50 Accounts, but it shows on your bank statement, you canpost an adjustment.
You can save the reconciliation at any point and complete it later, clickSave progress. To open the saved reconciliation, clickUse Saved.
At any point before you reconcile, to see a list of currently unmatched items, clickReport.
Step 4 - Reconcile your bank statement
Once you match all the relevant transactions:
Check theMatched Balanceand theStatement Balanceare the same.
TheDifferenceshould be zero. If the difference:
Is zero
Click Reconcile.
A progress bar appears while the software flags your transactions and creates a PDF file of your reconciled statement.