Reconciling account

Claire Green

I've just taken over working in Reckon from my partner and discovered he has not reconciled the account in over a year. I know this is probably covered in here somewhere already but I can't find how to do it.

We have 3 bank accounts and money is moved internally between them as well as incoming and outgoing. 

One account has all customer payments coming into it, and these have been deposited in Reckon already. Money is then moved from this account into either of the other two- Reckon has no idea about these transactions yet.

The second account has contractor payments and bills coming out of it. Reckon knows about these as they have been managed in Reckon Online Banking. However, it has no idea how the money has been put in that account.

The third account is our spending account. None of this has been entered.

Any help would be appreciated as our accountant still hasn't done our 2013-2014 tax return and won't until the account is reconciled.

Thank you!!!!!

Rachel Bailey

Hi Claire,

I hope i can help a little bit ...

To reconcile go to the banking drop down menu and select reconciliation. From there you can pick which bank account you would like to reconcile and the date.

As for the deposited money and transferring money between accounts, I go to the banking button again, select transfer money, then you just need to select the accounts the money is transfer from and into. Make sure you have deposited the money into the original account first. 
This way it will appear in both bank accounts when you reconcile.

Let me know if I can help any further. Rachel

Claire Green

Thanks Rachel and Kevin! That Transfer function sure makes everything a little clearer! Now for the mammoth task ahead......

Kwikbooks (Professional Partner)

Hi Claire

As well as the previous good advice, you also need to make sure there is  nothing leftover after you reconcile (except for current month entries).  After reconciling the first account, if you are missing entries in the 2nd and 3rd accounts I suggest you do a 'find' first, as there is a good chance some entries have been posted in the wrong account.  

Unreconciled entries (if not many) I move to one of the other accounts not yet reconciled and keep moving them down the line, if too many, and before you enter missing entries go to .. edit>find>advanced fined" and search by amount.  Put in the amount you are looking for ($55) and search, it will find any $55 in the file to see if entered in a different account, then move the entry. Also you can go to the reconciled bank account and check if entries you are looking for are still there unreconciled.... call if you need to 0429 305300

Scully

Well you certainly have helped me.  I am in the same boat except for 2014/2015 so here goes..................