New Bank Reconciliation

@lubos - I know that an overhaul of bank reconciliation is on your list, but are you able to give us a date when this will be implemented please? Thanks!


Let’s not call it “new bank reconciliation”.

By end of this week, you will be able to reconcile bank account even if you don’t know closing balances on various days. Is that what you are after, right?


Brilliant. That is what I am looking for.

What about a bank Reconciliation Report. Will that also be possibleP?

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Hi @lubos … Not quite I think. By definition, you cannot reconcile to an unknown balance. Usually there are missing entries in the book-keeping, so one needs to be able to vouch (tick/check) individual items or bulk items to narrow the gap, and to be able to amend/add/change so that everything matches. The QB desktop version model does this perfectly.


Yes, that’s why I’ve just added support for unpresented cheques and (soon) uncleared deposits. Report will follow soon after.

I’m actually familiar with Quickbooks process. You still need to provide Quickbooks ending balance as per bank statement. Then enter missing transactions (if there are any) or fix any errors before you can reconcile. This exactly what you will need to do in Manager. The only difference is that in Manager, no ticking process will be required because it won’t be needed. Anyway, let me implement it and have a look when available.

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That sounds just the ticket! Roll out the beta version @lubos … !!


@lubos - any news on this?

Desperately waiting for an improved reconciliation option …


Have you tried reconciling in the latest version? It’s now possible to turn off “reconciliation assistant” so you won’t be asked for daily closing balances.

I never know when there is a new version! I’ll download it and try …

Thanks, @lubos

I have been slowly reconciling the bank, and am getting my head round it (at one in the morning!)

The traditional book-keeper’s way of doing this is by marking an entry in the books as reconciled and at the same time marking the bank statement when they match, thus revealing the differences (dates, wrong entries and so on) - so that correcting entries can be made or altered in the books … and so working towards closing the difference, and ultimate reconciliation to the penny/cent/centime or whatever. This has been the method since I first kept company books in 1969, and the only true way. I was taught this method - as were millions of book-keepers worldwide from a century or two of previous ledger clerks’ best practice.

It led to the computerised systems in Sage, Quick Books and many other accountancy programmes, because underlying them was 1) double-entry and 2) accuracy to the smallest currency denomination.

It also allows book-keepers to reconcile in batches and to a variety of time periods.

I have to say that your method deviates from this accepted norm! But I am learning to work it, however counter-intuitive or awkward it is. While an improvement, it is - with the greatest respect - still very laborious and peculiar.

The “reconcilation assistant” does NOT make this faster, but encumbers it, so for those of us who work in the centuries-old way we would like to disable it. The only thing is I can’t !!! I toggle it to disabled, and the process still asks me to reconcile day by day. I have downloaded the latest version, so I wonder if this is a glitch?

We need a ticking process please.

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And rustymar’s suggestion would be a great help too …

I’ve been biding my time because I know improvements are still in the works. But I want to report that I’ve had the same problem as @ChrisLO with the assistant not disabling. Perhaps my history will shed some light on why this happens so it can be fixed.

At the beginning of February 2015, I decided to try importing a bank statement. The next time I reconciled, I had the well-known problem that Manager wasn’t allowing for the float between a transaction being entered and the check, deposit, or debit card transaction learning the bank. No matter what I entered for balances, something else was off. I finally had to give up and reconcile offline. I no longer import bank statements.

When the ability to disable the assistant was introduced, I thought my problem would be solved, but it persists. Only by coincidence did I have a week with no bank transactions. I lied to the supposedly disabled assistant as to daily balances for a lengthy string of preceding transactions until it was finally satisfied. But what satisfied it was completely artificial. So as far as Manager is concerned, I am reconciled. But I know I’m really not.

So I have not imported any statements. Where/how do I disable the assistant?

When looking at your list of bank account(s), click on the blue date under Reconciliation Date. You will see a dropdown box.

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By the way, I would be interested to know if the assistant actually is disabled. My thinking is that I may have been trapped in the loop I was because I had previously tried to use the assistant and abandoned the effort. I thought Manager had unfinished routines that it would not let go of.

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That seems to be my problem. It is now disabled, but on accounts that I had previously started but not completed a reconciliation on it is asking my for daily balances from January.

@roth, it sounds like we did indeed have the same problem: once started, for whatever reason, the assistant does not seem to give up. So far, I have not tried a new reconciliation with the assistant disabled. We’ll see what happens.

@lubos, It seems I am not alone here! You say “It’s now possible to turn off “reconciliation assistant” so you won’t be asked for daily closing balances.”

How? Because this feature doesn’t seem to work for many of us.