Reconcile Bank Accounts

Reconciliation ensures your accounts start balanced and stay balanced. Consistent reconciliation — daily or monthly — can also alert you to potential issues such as bounced checks, overdraft fees, or incorrect entries. In Financial Edge NXT, you can conveniently reconcile your bank account's register with your bank account statement from several areas:

  • From a bank account record action bar, select More actions, then select Reconcile.

  • From a bank register action bar, select Reconcile.

  • When bank feeds are enabled, and an online bank account is linked to a bank account in Financial Edge NXT, select Reconcile from the bank feed action bar.

From the Reconcile page, you can specify a statement date and ending balance, select to reconcile manually or with bank feeds, match and clear transactions, and review your register prior to reconciling.

Warning: To reconcile, you must enable cash management in the subledger settings for a bank account. For more information, see Subledger Settings.