Bank account reconciliation overview

Alerts and notices

Reconciling bank accounts is a complex process. In Accounting CS, the Actions > Reconcile Bank Accounts screen and the Actions > Reconcile Impound Bank Accounts screen enable you to easily reconcile Accounting CS bank accounts. You can download transaction data from your financial institution and then match and clear those transactions against transactions entered in Accounting CS. Or you can manually clear transactions entered in Accounting CS using a printed or online bank statement.

Note: Before you can reconcile an impound bank account, you must set up at least one account as an impound account.

For a graphical representation of the bank account reconciliation process, see the bank account reconciliation workflow.

Resources to help you through the reconciliation process

Bank account reconciliation workflow

Reconciling bank accounts

Reconciling impound bank accounts

Clearing transactions during bank account reconciliation

Importing bank statements for reconciliation

Importing statements for impound bank account reconciliation

Potential reasons that certain transaction are not available to be modified

Troubleshooting an unreconciled amount in bank account reconciliation

Tasks you can do within the Reconcile Bank Accounts screen and the Reconcile Impound Bank Accounts screen

Each of the tabbed pages in these screens focuses on a different aspect of the reconciliation process.

  • Download transactions from your financial institution and then match those transactions to those entered in Accounting CS via the Bank Statement Import tab.
  • Clear Accounting CS transactions in the Deposits & Additions tab, the Checks & Payments tab, and the Direct Deposit tab using a printed or online bank statement.
  • Manually enter adjustments for the client in the Client Adjustment Transmittal tab, and then have the client make those same changes in their bank account records.
  • View the unreconciled amount and a summary of the reconciliation in the Account Summary tab and, if necessary, make adjustments to the bank account for the unreconciled amount.
  • View information about the source of data for unreconciled accounts and possible causes of the unreconciled amount in the Reconciliation Summary tab.

Depending on which tabbed page is active, the Edit menu and right-click context menu may include commands that enable you to do the following tasks.