Account reconciliation

Account reconciliation provides a mechanism for you to reconcile all transactions performed on an account with those from an independent source, usually a bank account statement. This allows you to check that all transactions that have been performed on the account are valid and have been assigned the correct dates.

An account transaction is considered to be reconciled if it has been assigned a reconciliation date by entering a date for the transaction using the account reconciliation form. No transactions are reconciled unless done explicitly using the account reconciliation method.

An account can be reconciled over the current database or across multiple specified databases. This is especially useful in situations where one bank account is being used for transactions in multiple databases.

When an account is reconciled, the following chain of events takes place:

  • The account to be reconciled is specified by an Account code
  • The date Range across which to reconcile is selected. This determines which journal transactions for the account will be displayed and available for reconciliation
  • The Start reconciliation button is clicked, indicating that you want to begin assigning reconciliation dates to unreconciled transactions displayed in the list
  • The End reconciliation button is clicked, indicating that all dates entered for the displayed transactions are to be updated in the database(s)

Special actions available for users with Administrator permissions:

  • Payment details of payments to protected employees will not be visible if the current user doesn't have ADMIN permissions for the employees function

Database rules:

  • None