Finalize Reconciliation

When you select Finalize, you can review details comparing your register and cash account to your statement. You can also view a breakdown of posted and not yet posted transactions.

Tip: The total under Transactions after statement date includes all cleared, posted transactions with a post date that occurs after the statement date.

A warning detects when the register is out of balance with the statement (the balance must be zero in order to reconcile). You can clear the necessary transactions or create an adjustment. For more information, see Bank Account Adjustments.

Alerts detect unposted subledger or general ledger journal entry transactions that may cause the GL cash account to be out of balance. We recommend you post these transactions before continuing with the reconciliation process.

To reconcile transactions, select Reconcile now. Transactions marked as Cleared on Review register will be included in the reconciliation. After the process completes, a new entry appears in the bank account's reconciliation history to reflect the most recent process, and the status for all associated transactions is set to Reconciled.

Note: Keep in mind you can Save and close, and return to your reconciliation process at any time. When you save and close, all of your progress saves. Unless you save and close or reconcile, the only changes that save are adjustments you add and bank drafts you record.