Reconciling your Bank Account (with video)
Click the Banking icon.
- Click Reconcile underneath the account you would like to reconcile.
- Click Begin Reconciliation.
- Enter the bank statement ending date and ending balance in appropriate fields.
- Click Continue Reconciliation.
- Compare your bank statement to the list of transactions in MoneyMinder’s reconciliation list. For each item that shows on your bank statement that matches MoneyMinder, place a checkmark in the box under the “Cleared” column.
- Once you have checked off all transactions that appear on your bank statement, look to see if the “Record Reconciliation” button appears.
- If it does, click Record Reconciliation.
- If it does not, MoneyMinder and the bank statement do not agree yet. The most common errors that occur are:
- Transpositions in numbers
- An unrecorded transaction (either a check, deposit, bank fee, or a bank error)
- Entering a transaction into MoneyMinder twice
- Entering an incorrect date on a transaction
- MoneyMinder needs to mirror the bank statement and reflect what actually happened at the bank.