Reconciling your Bank Account

 

  • 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.

 

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