Reconcile your opening bank balance

We recommend that you reconcile your opening bank balance straight away. This ensures your starting balance is correct before completing your first bank reconciliation.

You can only reconcile a current or a credit card account. You can't reconcile a cash account.

Reconcile your opening balance

1. From Banking, open the relevant bank account.
2. Select Reconcile.
3. Enter the following information:
   • Statement Date: Change this to the date of your opening balance which is usually your Accounting Start Date. This will filter out any subsequent transactions and make it easier to find your opening balance transactions
   • Statement End Balance: Enter the total amount of your opening balance
   • Reference: This is just a label for the reconciliation. If you use Opening Balance this will distinguish it from other reconciliations
4. Select Apply.
5. You will then see your opening balance. Select Reconcile next to the transaction.
6. To complete the reconciliation, select Finish.
7. To print details of the reconciliation, select Print.