Catching up on old reconciling whats the easiest way??

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Jess_8078757
Jess_8078757 Member Posts: 3 ✭
edited February 2017 in Accounts Hosted
Hi there
i have just taken on managing a friend's bookwork on Reckon accounts.
Im just learning this program so would love any help!
1- he is up to date with tax returns etc so thats fine. but hasnt reconciled on the program since 2011!!! he has entered in all transactions so he's up too date with that.
2 - do i have to back date reconciling to 2011 or can i just start from end of 2015 for example?
3 - what is the deal with the ticks next to transactions? he told me to just go along and tick all the boxes but from what im reading if you reconcile they will automatically tick is that right?? or do i have to manually tick all boxes from like 2014??

any help would be great
thanks!!

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  • John G
    John G Reckon Staff Posts: 1,570 Reckon Staff
    edited February 2017
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    Hi Jess,

    Welcome to the Reckon Community.

    The reconciliation process is to ensure your company file's bank ledger entries corresponds with the bank's record of transactions. 

    Firstly, make a fresh backup of your company file and get details of the last reconciliation from Reports > Banking > Previous Reconciliation (you may already have a printed copy of this report)

    Start the Reconciliation in Reckon Accounts and confirm that the Beginning Balance corresponds with the Bank Statement Balance on the reconciliation date of the last Reconciliation in 2011. 

    Then enter the Statement Date and Bank ending balance and proceed with your reconciliation.  Tick off all transactions - Cheques and Payments; and, Deposits and Other Credits - to your chosen Statement Date (either to the last available statement date, or to some date in the past like 31/12/15 you suggested).  It'll be easier to click on Mark All and then untick the transactions after your chosen date.   

    Check the difference in the bottom right - it most likely will not be 0.00 which is the object of your task.  Untick other transactions that do not appear on your bank statements since 2011 until the Difference amount reaches 0.00.  Complete the reconciliation.  

    Hope this helps,


    regards,
    John

  • Jess_8078757
    Jess_8078757 Member Posts: 3 ✭
    edited March 2016
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    Thanks John it worked :)

    Was wondering if you could help with another question?? when i enter transactions ie expenses on the window it automatically comes up with cheque number in that number window as we dont write cheques and use EFT as main payment method how do i change that auto prefill to EFT ?? thanks!
  • John G
    John G Reckon Staff Posts: 1,570 Reckon Staff
    edited December 2016
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    Hi Jess,

    Just overwrite the cheque Number field with whatever description you want:

    image



    regards,
    John

  • Kat_8116978
    Kat_8116978 Member Posts: 6 ✭
    edited March 2016
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    Hi, could you please clarify for me, in the 'Begin Reconciliation' window is the 'Statement Date' the date of the first transaction on the bank statement (opening balance) or is it the date of the last transaction (closing balance) on the bank statement?

    Many thanks

  • John G
    John G Reckon Staff Posts: 1,570 Reckon Staff
    edited February 2017
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    Hi Kat,

    Welcome to the Reckon Community.

    The Statement Date is the date of the Bank Statement you have receive from the Bank.
    The Ending Balance is the last balance on this statement.
    The Beginning Balance should be the opening balance on this Statement.


    Hope this helps.

    regards,
    John
  • Kat_8116978
    Kat_8116978 Member Posts: 6 ✭
    edited March 2016
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    Hi John
    Thank you for your welcome, I really appreciate you taking the time to respond to my question. Unfortunately I am still a bit unclear. The reason being is, on my bank statements the bank has two dates recorded like this as shown below, there is no actual 'Statement Date' recorded:
    Statement begins 30 June 2014
    Statement ends 6 July 2015
    and within my version of QB the reconciliation requires me to put one of those dates in the 'Statement Date' field as shown below. I am confused about which one should go in this field, are you saying that in this field I should put the 'Statement begins' date?
    image
    thanks again for your assistance
    Kind regards,
    Kat
  • John G
    John G Reckon Staff Posts: 1,570 Reckon Staff
    edited February 2017
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    Hi Kat,

    My apologies for not making it clear - it is the "Statement ends" date that needs to be entered, 


    regards,
    John
  • Kat_8116978
    Kat_8116978 Member Posts: 6 ✭
    edited March 2016
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    Thanks John :)

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