Reconciling your bank account makes sure your actual bank balance matches your Sage Accounting balance.
This ensures that:
You've entered all transactions correctly
The bank balance you see in Accounting accurately reflects the balance of your actual bank account
Your financial reports are accurate
You can reconcile both a current or a credit card account.
NOTE:
You can't reconcile a cash account.
We recommend that you reconcile your accounts, but it's not mandatory.
Reconciling for the first time
We recommend that you reconcile your opening bank balance first. This ensures your bank balance matches the opening statement for a smooth first bank reconciliation.