Reconciling allows you to ensure that your real bank balance matches your Sage bank balance. We recommend that you reconcile your accounts, but it's not mandatory.
Reconciling just means that you've checked that the transactions entered into Accounting match the transactions in your actual bank account.
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
NOTE: You can reconcile both a current or a credit card account. You can't reconcile a cash account.
CAUTION: Once a Bank Reconciliation is completed, you can't delete it.
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.
Before you begin
Make sure you have your bank statement handy as you'll need this.
Make sure you record all of your applicable transactions using one of the methods below:
Reconcile your transactions
Now that you’ve set things up, it’s time to reconcile - Read reconcile your bank account.