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Reconcile your opening bank balance

Created on  | Last modified on 

Summary

How to reconcile your opening bank balance in Accounting Start.

Resolution

We recommend that you reconcile your opening bank balance straight away. This makes sure 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. Click 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, click Print.