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Bank Reconciliation

Bank Reconciliation

Bank Reconciliation is made easy with Fast Accounts.

1. How to Reconcile a Bank Account

  1. Go to Banks
  2. Select Reconcile

This will open Bank Reconciliation Screen.

Step 1

  1. Select Bank Account
  2. Enter the bank statement Closing Date
  3. Enter the bank statement Closing Balance
  4. Press Load Transactions

Step 2

  1. Tick the transaction as per bank statement
  2. The Difference will become “0”, once all transaction as per the bank statement are ticked.
  3. Enter the bank statement Closing Balance
  4. Press Save and Close, it is all done.
  5.  
Tick the transaction as per bank statement

2. Bank Reconciliation Report

Go to Reports, in Cash & Banks section, select Bank Reconciliation report.

Bank Reconciliation Report

3. How to fix Previous Reconciliation Balance Difference

In case you have edited a bank related transaction after reconciliation, it will become unreconciled. As a result when you doing reconciliation, you will note a warning message.

  1. Select the Bank Account
  2. Enter the bank statement Closing Date (same as in the warning message)
  3. Enter the bank statement Closing Balance
  4. Press Load Transactions

This will load any unreconciled items. Tick the transactions as per the bank statement and press save and Close.

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