[16.4.76] Decoupled bank reconciliation from "Bank Accounts" tab

In the latest version, bank reconciliation is no longer available under Bank Accounts tab. I know this may come as a surprise as bank reconciliation naturally belongs to bank accounts.

With recent addition of bank reconciliation statements under Reports tab, it will make it more intuitive if bank reconciliation workflow is done from bank reconciliation statements.

So rather than having Reconciliation Date and Status column under Bank Accounts tab, it’s better to show reconciliation status under Bank Reconciliation Statements.

This way you can see how bank accounts have been reconciled over the period of time.

But there are more benefits to this approach. If you are reconciling bank account over longer period of time, it’s better to create multiple bank reconciliation statements (perhaps one each month) and reconcile them individually.

Or if you have uncleared deposits or uncleared payments, it is going to be more obvious to deal with them. To start bank reconciliation, you will need to click View button on bank reconciliation statement you wish to reconcile:

This will give you the statement:

Before you click on Bank reconciliation discrepancy amount, you will first check whether any uncleared deposits or uncleared payments have been cleared. If they have, you will click on the amount of uncleared transaction (in this instance Cheque #2322 and mark it as cleared so it disappears from the list of uncleared transactions on the bank reconciliation statement. This workflow forces you to deal with uncleared transactions before running actual bank reconciliation process.

Bank reconciliation process itself has been modified to better accommodate for issues I’ve seen people having. For example, if bank reconciliation assistant have been turned on, Manager would ask for many closing balances to establish on which specific days bank account doesn’t reconcile. This was frustrating to many people who thought the program keeps asking for various closing balances and there was no sense of progress. Some users out of frustration have been hitting Update button continuously to claim closing balance as zero which made reconciliation process even more difficult to go through.

The latest version makes it more obvious why Manager asks for these closing balances. For example, if Manager can break the period you are reconciling in half for easier bank reconciliation, it will show yellow notice.

It works the same way as bank reconciliation assistant except there is sense of progress and more visibility why the date has been chosen.

If you need more information on bank reconciliation workflow, see:



This is incredible! Thank you! Just in time, I was reconciling today! :smiley:


The first time I attempted reconciliation with the new scheme, a bank account appeared in the list of reconciliation statements that had never been created. It had the same name as a real bank account and showed as having been reconciled about 5 weeks ago. The reconciled balance in the extra account was the same as the actual balance in the similarly named real account on that date.

The extra account did not show up in the Bank Accounts tab. Its balance was not included on the Balance Sheet. I could not access it in any way to see if there was a current balance or any transaction history. After backing up, I deleted the extra Bank Reconciliation Statement without any apparent impact on anything else.

Any idea why this extra account appeared, @lubos?

The upgrade to the latest version will automatically create bank reconciliation statement for each bank account. You can delete bank reconciliation statements anytime you want since it is just a report.

OK, I think I understand. The 5-week old reconciliation report was one I had previously created and the other was the automatically generated one, as of the date of update. Is that correct?

If so, I misunderstood how the new scheme works, assuming it must be generating reports for today, whenever today might be, and that it would always do so to begin a new reconciliation process.

My question now is whether a reconciliation statement will be generated every time the application is updated or if that only happens the first time after this new scheme is installed?

It was only once off. Mostly for users who forgot when they reconciled the last time since reconciliation related columns have been removed from Bank Accounts tab.

Thanks a million, am one of those who now got used to reconciling by put multiple balances the program would ask.,