Reconcile your opening bank balance
We recommend that you reconcile your opening bank balance straight away. This makes sure you starting balance is correct before completing your first bank reconciliation.
You can only reconcile from a current or a credit card account. You cannot reconcile a cash account
Reconcile your opening balance
- From Banking, open the relevant bank account.
- Select Reconcile.
Enter the following information:
Statement Date: Change this to the date of your opening balance. This usually your Accounting Start Date. This will filter out any subsequent transactions and make it easier to find your opening balance transactions.
Statement End Balance: Enter the total amount of your opening balance.
Reference: This is just label for the reconciliation. If you use Opening Balance this will distinguish it from other reconciliations.
- Choose Apply.
You will then see your opening balance. Select Reconcile next to the transaction.
- To complete the reconciliation, select Finish.
- To print details of the reconciliation, click Print.