ARCIHVE: Reconcile the cash account for the first time

Clear all transactions previously reconciled

1. Select CM, Transactions, Reconcile Checking Account.
2. Select the cash account.
3. Use the previous month statement ending date and reconciliation date.
   For example, if July is the first month you reconcile, use June 30 as your ending and reconciliation date. 
4. Clear transactions that have cleared your bank. Only uncheck outstanding items.  
    TIP: Hold down on keyboard space bar to clear transactions automatically.

Note the differences on the Reconciliation Summary screen

1. Select Reconciliation Summary.
2. Note the Difference values for the Cleared and Outstanding columns.
3. Close out of the Reconcile Checking Account.

Enter a bank transaction for the difference

1. Go to CM, Transactions, Enter Bank Transactions
2. Enter a bank transaction for the Reconciliation Summary Cleared difference
   • Enter a credit if the difference is negative
   • Enter a charge if the difference is positive
       CAUTION: Uncheck the Post to G/L checkbox before posting the transaction 

Adjust the Statement ending balance on the first screen of the reconciliation

1. Select CM, Transactions, Reconcile Checking Account.
2. Clear the Outstanding difference.
   • Add the amount to the Statement ending balance if the difference is negative
   • Subtract the amount from the Statement ending balance if the difference is positive 
3. Click Reconciliation.
4. Clear the credit or charge transaction you created above.
5. Select Reconciliation Summary.
6. The Cleared and Outstanding difference values must now be $0.00.
7. For the next reconciliation, use the statement ending balance from Step 2 as your new statement beginning balance.

How to reconcile your cash account