#TipTuesday - Make your bank reconciliations easier 🧮

Kris_Williams

#TipTuesday - Make your bank reconciliations easier!

Bank reconciliations can be very daunting at times, especially to small business owners who don’t have a lot of bookkeeping experience.

With Reckon Accounts or Reckon Accounts Hosted, I always advise people to reconcile one page at a time, entering the closing date and balance at the end of each page. This way when you go into the bank reconciliation window you can tick the Hide transactions after the statement’s end date checkbox.

In most cases you can then click on Mark All and voila! The balance should be zero!

If the balance isn’t zero then you only have a single page of transactions to check on, firstly by unmarking all and then ticking one at a time.

Zappy

Well that's interesting. The best tip is to reconcile your bank to the end of the month regardless of the statement date so you only have twelve reconciliations every year. If your bank gets out of balance you only need to look in twelve places instead of doing something stupid like unreconciling the bank for twelve months. Like that's a sensible thing to do. This tip has saved my faux bacon or facon many times.

Zappy