Bank Reconciliations
Manager Menu-Tabs > Cash Tabs > Bank Recnciliations
Bank Reconciliations
What Is A Bank Reconciliation ?
A Bank Reconciliation is just a record that is normally prepared each month after you receive your bank statement from the bank for the month. The record compares what you recorded in your cash records with what was recorded by the bank in your bank statement and provides proof as to the accuracy of your cash balance.
Why Is A Bank Reconciliation Important ?
Bank reconciliations help to identify discrepancies before they become problems. Periodic bank reconciliations also help to catch fraud and cash manipulations quickly to minimize damage to the company.
Why is the Balance Per Bank Statement and Balance Per Books Different ?
Timing is the answer. Some transactions recorded in the books have not yet been processed by the bank and some transactions processed by the bank have not yet been recorded in the books.
I'm from the "ole" school and like to do them the manual way.
Manager does provide an option to enable the Bank Reconciliations Tab.
See Manger's Instructions if you want to use this feature.