DESKTOP EDITION CLOUD EDITION SERVER EDITION GUIDES FORUM

Monthly Bank Reconciliations


#1

Bank reconciliations asks for bank balance of most recently entered transaction. Anyway of doing month by month bank reconciliations. My tax year runs from Oct to Sept. Being new to Manager I entered a years worth of transactions. + most recent ones upto January the 24th 2014. I am asked to enter the bank balance for Jan 24th 2014. I would like to reconcile firstly Oct 2012, then Nov 2012 and so on till Sept 2013 Giving the opening and closing balances for each month. Is this possible?


#2

Yeah, I’m going to do something about this before end of this week.


#3

The latest version (14.1.33) now supports custom bank reconciliation date.

Go to Bank Accounts tab, then click Edit button on bank account that you want to set custom bank reconciliation date form and check the box Internet banking is not available for this bank account. This will allow you to set the custom date for bank reconciliation purposes.

For your use case, I don’t think you need this feature anyway. This is mostly for users who don’t have Internet banking and can only reconcile through bank statements which don’t arrive until end of the month making Bank Accounts tab in constant unreconciled state.

If for whatever reason you still want to keep going month by month, you can use this feature. First set the last bank statement date to Oct 2012, once reconciled, keep changing the date until you are done.