Bank Reconciliation is crucial for ensuring accurate financial records. This guide provides an overview of how to reconcile your bank account and how to rectify errors made during reconciliation if required.

Once transactions for a bank account have been reviewed and finalised, they can be reconciled.

Follow these steps to reconcile your bank account:

1. Go to Banking > Bank Reconciliation.

2. Select the bank account and enter the Opening Balance.

3. Mark off transactions and ensure the Closing Balance matches.

4. Click Reconcile Completed to finalize the reconciliation.

If you need to edit reconciled payments, you can undo a bank reconciliation by going to Banking > Bank Reconciliation and selecting Undo Last Reconcile.

Once a payment has been reconciled, it can no longer be deleted. As such, it is important to ensure that all payment details and invoice allocations are correct before reconciling payments.

However, if an incorrect payment has been reconciled you can remove the reconciliation and then delete the payment by following these steps:

1. Go to Bank Feeds.

2. Open the Matched tab.

3. Locate the relevant bank feed transaction.

4. Select Unmatch for the transaction.

Note: This process should only be used if a correction is required, as reconciliations are intended to confirm that transactions are accurate and finalised.