Reconciliation
At some point — per statement, or at month-end — you want proof that a bank account in your ledger and the bank’s own statement say the same thing. Not “probably fine because everything went through Bank Matching”, but line by line: every booking on the account either appears on the statement and gets ticked off, or stands out as the thing that explains the difference.
That’s what this screen does. Bank Matching is the day-to-day workflow that gets statement lines booked; it does not mark anything as reconciled. Reconciliation is the separate control step that stamps each ledger line as cleared — and if all your activity flows through Bank Matching, the check takes a minute and comes out at zero. The stamp is what the R column in the Trial Balance drill-down shows, so a reconciled account is verifiably reconciled anywhere you look at it later.
Go to General Ledger → Reports → Reconciliation (requires the reconciliation permission).
Loading a period
Search Params at the top takes three things: the account, the period, and how to display it.
Account Number lists every open ledger account as “number - description”, and the list is searchable — but it starts on the lowest-numbered account in your chart, so the first thing to do is pick your actual bank or cash account. Set From Date and To Date to the statement period, then Load Transactions.
The table shows a Beginning Balance row — the reconciled balance carried forward — then one line per movement with Date, Source, Description, a tick-off checkbox, Debit, Credit and a running Balance, with a Totals row at the bottom. Only posted entries appear; anything still waiting for approval doesn’t exist here.
One behaviour is central to how this screen works: entries from before the From Date that were never reconciled still appear. A payment booked in March that never showed up on a statement keeps surfacing in April, May, June — outstanding items cannot silently fall off the list. They stay in your face until they clear or you go and find out why they never will.
Summary or Detail
Summary View (the default) merges ledger legs that share the same date and source into one line — a single bank booking that settled several invoices shows as one row, exactly as it appears on the statement, and ticking it clears all the underlying entries at once. Detail View lists every leg separately. Summary is the natural fit for ticking off against a statement; switch to Detail when you need to see what a merged line is made of.
Ticking off and saving
Work through the statement and tick every line that appears on it. The checkbox in the column header ticks or unticks the whole list at once — useful when everything matches and you’d rather untick the one exception.
Then type the statement’s closing balance into Statement Balance.
Statement Balance is pre-filled from your own books — the balance of the entries already marked cleared up to the To Date (0.00 on a first reconciliation) — never from the bank. Leave it untouched and you’ve reconciled your books against your books, and proven nothing. The entire point of the exercise is overwriting that field with the figure printed on the bank statement.
Difference (read-only) is the beginning balance plus everything you’ve ticked, minus the statement balance. When it reaches zero, Save Reconciliation becomes available and you’re done: every ticked line is stamped with the Reconciliation Date shown above the table (the To Date if you set one, otherwise today). Unticking a previously cleared line and saving removes its stamp again — so a mistake is undone the same way it was made.
Ignore Difference lets you save with a residual difference anyway. It’s a deliberate escape hatch — a legacy rounding remnant you’ve decided to live with — not something to reach for routinely. A difference you can’t explain is the screen telling you a booking is missing, doubled, or sitting on the wrong account; saving over it just moves the problem into next month’s reconciliation.
Reviewing past reconciliations
Reconciliation Report (Cleared Only) lists only what was already reconciled in the chosen period, by cleared date, instead of the open items. Use it to reproduce a past reconciliation — for your fiduciary, or for yourself when a number from three months ago needs re-checking.
Foreign-currency accounts
Include FX Transactions only matters on accounts held in a foreign currency. Off (the default), exchange-rate difference legs are left out and the pre-filled statement balance excludes them — the list mirrors what the bank statement shows. On, the FX legs are listed too, so the balance ties out in your base currency. For everyday reconciliation against the bank’s statement, leave it off.
Where it fits in your month
Reconcile before you lock the period — it’s the last moment a missing or doubled booking is still cheap to fix. The picker lists every open account in your chart, not just banks; a closed ledger account no longer appears, so finish reconciling an account before you close it.