Introduction to bank reconciliation
Reconciling allows you to ensure that your real bank balance matches your Sage bank balance. We recommend that you reconcile your accounts, but it is not mandatory. This explains how to get started with reconciling your bank accounts.
Why reconcile your bank account
Reconciling just means that you have checked that the transactions entered into Sage Accounting match the transactions in your actual bank account.
This makes sure that
You have entered all transactions correctly.
The bank balance you see in Sage Accounting accurately reflects the balance of your actual bank account.
Your financial reports are accurate.
You can reconcile a current or a credit card account. You cannot reconcile a cash account.
Reconciling for the first time
We recommend that you reconcile your opening bank balance first. This makes sure that your bank balance is correct and matches the opening balance from your bank statement when you do your first reconciliation.
Read Reconcile your opening bank balance to learn more.
Before you begin
Make sure you have your bank statement handy as you'll need this.
Before you reconcile, make sure you record all of your applicable transactions using one of the methods below:
Connect Sage Accounting to your bank to import transactions automatically
Reconcile your transactions
Now that you’ve set things up, it’s time to reconcile. Read Reconcile your bank account